530A Accounts: Form 4547 The new 530A accounts (also called Trump accounts) created under the One Big Beautiful Bill Act (OBBBA) are new tax‑favored retirement‑style accounts for children, created under IRC § 530A and set up using IRS Form 4547, Trump Account Election(s). If you have a child, a 530A
While the new Corporate Alternative Minimum Tax (CAMT) may not apply to certain taxpayers, it may still generate additional reporting requirements. Here’s what you need to know. The Backstory The CAMT, created by the Inflation Reduction Act, imposes a 15% minimum tax on the Adjusted Financials Statement Income (AFSI) of
More Than a Paycheck Of course we offer a competitive salary that’s equitable and tied to performance, but there’s more to working at Barnes Dennig than just the paycheck. Relationships matter here. You’ll see that in the way we work with clients, but you’ll feel it in the way we
When an employee leaves your company before they’re fully vested in their 401(k) plan, those unvested funds become forfeitures. How you handle these forfeited amounts is critical, as improper management could put you at odds with the IRS. The IRS has proposed regulations that outline exactly what you can do
Companies of all sizes are required to prepare financial statements for internal and external stakeholders. In the U.S., Generally Accepted Accounting Principles (GAAP) has been the most popular accounting framework for decades, but it’s not the only option. Three alternatives – two based on international standards and one new option
https://www.youtube.com/watch?v=ueTrXZkjXq4 Can’t watch the video? Get the transcript. In the final episode of the DIY SOC Reporting series, top SOC reporting pros, Robert Ramsay and Bryan Gayhart, dive into security criteria – what they are, how to determine which ones apply to your business, and where to get started. While
Applications Open July 1 A $1 million program in Kentucky provides a unique opportunity for a state tax credit: The Endow Kentucky Tax Credit Program offers a credit toward Kentucky income tax following a contribution to permanent endowment funds at Horizon Community Funds. The program, which is available for individual
A critical update from the Department of Health and Human Services (HHS) provides new reporting requirement clarifications for non-profits that received Provider Relief Funding (PRF) under the CARES Act. And entities with fiscal year-ends (FYE) on or after June 30, 2021, will feel the impact first. FYI on FYE The
Hiring has changed. Growth plans shift, hiring needs evolve, and many organizations don’t need the same level of recruiting support year-round. As part of our Fractional HR Support & Advisory Services, our talent acquisition capabilities give organizations access to experienced recruiting professionals with the flexibility to scale support as hiring
Watch on-demand as our team delivers a 60-minute webinar covering how non-profits can safeguard their finances against uncertainty. Against the complex and ever-shifting background of today’s political climate, balancing your non-profit’s mission-driven focus and financial sustainability can be especially daunting. This balance is made even more challenging due to unpredictable
One of the significant tax law changes with the One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, is related to the timing of tax deductions for research and experimental expenditures under Section 174. Amortized R&D expensing under TCJA Under the Tax Cuts and Jobs Act
Non-profit leaders face immense pressure to balance mission impact with operational efficiency. Human resources (HR), including compliance, talent management, and workforce development, sits at the center of this challenge. Yet, many organizations struggle to meet the budget and resource requirements to sustain a full-time, senior HR executive or team. This