The Office of Management and Budget (OMB)’s new 2022 Compliance Supplement means changes for your next non-profit audit, if Federal programs and funding are involved. And unlike previous years, The OMB doesn’t expect to issue a future amendment to the supplement – so that means both auditees and auditors can
The SECURE Act, which was passed in December of 2019, brought significant changes to retirement accounts, specifically to the treatment of inherited retirement accounts – including eliminating the so-called “stretch IRA,” and adding a new 10-year “clean out” rule that requires beneficiaries from inherited retirement accounts to fully distribute the
A common perception of “estate planning” involves wealthy families managing their fortunes and negotiating complex legal documents to minimize tax burdens. In reality, estate planning is crucial for people of all income levels. It’s not just about distributing wealth but also about ensuring your wishes are respected, and your loved
Barnes Dennig is dedicated to helping you identify opportunities, options and strategies to minimize the impact of the COVID-19 Pandemic. Visit our COVID-19 Advisory Services Page here to learn more. Economic impact payments: What you need to know In an information release, the Treasury Department and IRS have announced that
Virus Protection Has a Whole New Meaning Remember when “virus protection” only referred to malware? When we talked about “wiping phones” prior to March of 2020, it was all about erasing data from a lost device. With millions of people around the world working from home and spending endless hours
Construction Executive Magazine’s hot-off-the-press Top 50 Construction Accounting Firms™ for 2022 names Barnes Dennig to its exclusive list, reinforcing the firm’s strength in accounting and business consulting for the construction industry. “It’s a great honor to be a part of this prestigious list for the third time,” says Barnes Dennig
On July 22, 2019, a bill (the Research and Development Tax Credit Expansion Act) was introduced that would be effective for taxable years beginning after December 31, 2019 to expand refundability and increase simplification of the research credit for certain small businesses. The Research and Experimentation (R&E) tax credit promotes
What if you could get insights into what other Wholesale/Distribution companies in our region are paying, and what benefits they offer? It’s a definite competitive advantage for hiring and retaining hard-won talent – especially in the current labor market. Barnes Dennig, USI, and WesBanco are sponsoring a new Compensation, Benefits,
Barnes Dennig is dedicated to helping you identify opportunities, options and strategies to minimize the impact of the COVID-19 Pandemic. Visit our COVID-19 Advisory Services Page here to learn more. Updated Guidance on Tax Credits for Paid Sick, Paid Family and Medical Leave and Employee Retention Credits as well as
On March 15, 2021, Kentucky Governor Andy Beshear signed into law House Bill 278, which allows expenses paid with PPP loan proceeds to be tax deductible for Kentucky income tax purposes, providing much-needed relief for taxpayers. The passage of the Consolidated Appropriations Act (“CAA”) in late December provided taxpayers the
In March 2021, Congress appropriated $28.6 billion to the Small Business Administration (SBA) for a Restaurant Revitalization Fund (RRF) through the American Rescue Plan Act (ARPA) of 2021 to assist restaurants, bars, and other food service businesses experiencing substantial revenue loss and unemployment resulting from the COVID-19 pandemic. The SBA
As a follow-up to prior IRS guidance discussed in our earlier blog, the IRS released Revenue Procedure 2025-28 on August 28, 2025, providing detailed guidance on how businesses should handle research and experimental (R&E) expenses under the One Big Beautiful Bill Act (OBBBA). These changes significantly alter the tax treatment