If you do not have a procurement department taking care of the Request for Proposal (RFP) process for you, and especially if cloud-based providers are new to you, here are some tips for planning for the RFP process. (Planning is important; remember the carpenters’ creed: “measure twice, cut once.”) Recognize
The IRS has provided guidance to employers that provide matching retirement plan contributions based on student loan payments – a provision of the SECURE 2.0 Act of 2022. Notice 2024-63 implements Section 110 of the SECURE 2.0 Act of 2022; this section allows employers with a 401(k) plan, 403(b) plan,
How will SBA review good-faith certification of need for PPP Loan? Today, the SBA published more guidance on safe harbors for loan certification for borrowers who received PPP loans less than $2 million, and guidance on certifications for PPP loan borrowers in excess of $2 million. Further guidance is needed
Construction consulting experts FMI released their third-quarter outlook for the construction industry, and as we look at where we’ve come and where we’re headed, 2024 presents an intriguing confluence of growth and challenges. Despite the heightened anticipation of a broader anticipated recession dangling over the U.S. economy, the construction industry
The Tax Cuts and Jobs Act (TCJA) of 2017, introduced under former President Donald Trump’s administration, substantially altered the U.S. tax landscape. However, many of its provisions are set to expire at the end of 2025, leading to speculation about how these changes may affect taxpayers and the broader economy
The 2030s are poised to be a transformative decade, marked by a significant economic depression. Renowned economists Brian Beaulieu and Alan Beaulieu of ITR Economics recently shared insights into the expected downturn, offering a roadmap for businesses and individuals to not only survive but thrive during this challenging period. The
Barnes Dennig hosted its second international roundtable on October 30, 2019 to gather companies together to discuss how the tariffs have impacted them and how to reduce the impact tariffs have had on their companies. David Schwartz, practice group leader of international trade at Thompson Hine, joined the discussion to
Understanding Outbound Transactions Cross-border taxation can be divided into various categories based on the type of the transaction, with the highest division being “Inbound vs. Outbound.” Inbound refers to non-U.S. persons (and in this case, “persons” meaning both individuals as well as entities) having U.S. income. Outbound is the opposite,
With more than two decades of experience with Barnes Dennig, Steve plays an integral role in the firm’s assurance practice, including involvement with some of the firm’s largest and most complex assurance clients, particularly in the Wholesale/Distribution industry. Steve serves various clients in multiple industries with a significant concentration in
With the passing of the One Big Beautiful Bill Act (OBBBA), a new temporary deduction for car loan interest for individual taxpayers has been introduced. Effective for tax years beginning after December 31, 2024, and before January 1, 2029, interest paid on a qualifying car loan will be deductible. What
On November 6, 2019, Ohio Governor Mike DeWine signed a bill into law that strikes the ban barring attorneys and lobbyists from using the Ohio business income tax deduction (BID). Ohio S.B. 26 repeals a provision that excludes income earned from the practice of law or lobbying from being eligible
In addition to the welcome news for PPP loan recipients that associated qualified expenses are in fact tax-deductible, the Consolidated Appropriations Act (CAA) substantially expands Employee Retention Credit (“ERC”) benefits. Some employers may now be eligible to retroactively claim the credit on qualified wages going back to March 12, 2020.