The current bonus depreciation rule came into play under the Tax Cuts and Jobs Act (TCJA) in 2017. Under TCJA, qualified property placed in service between 2017 and 2022 can be fully deductible. After 2022, this deduction has gradually been phased down to 80% in 2023, 60% in 2024, and
Have you ever thought about whether your 401(k) benefits are the same as other employees within your Plan? Are you getting the same benefits as someone who is more highly compensated? Luckily for you, Employee Benefit Plans are required to go through compliance testing to ensure that benefits within your
Updated guidance from the Multistate Tax Commission (MTC) could mean new income tax nexus for manufacturers – and while states must first adopt the guidance before it becomes law, the time to map the potential impact is now. Public Law 86-272 – the backstory In 1959, Public Law (PL) 86-272
https://www.youtube.com/watch?v=0RgqoJidGSM Can’t watch the video? Get the transcript. When you own and actively run a business, life can often feel like you’re standing on a wobbly three-legged stool where the legs represent your business, your personal life, and your financial situation. If any one of those legs is out of
With 2025 and a new presidential administration well underway, new tax proposals are poised to reshape the tax landscape for both businesses and individuals – and may have a significant impact on tax deductions, tax credits, and overall tax liabilities for virtually every taxpayer. We’re taking a look at the
Can’t watch the video? Get the transcript. What’s in the video? Fractional accounting and advisory services are a smart solution for fast-growing businesses and non-profits that need strategic financial leadership — without committing to a full-time hire. Today’s fractional model goes far beyond bookkeeping, delivering hands-on advisory support that helps
On May 9, 2019, Ohio’s House of Representatives passed House Bill 166 by a vote of 85-9. This is a two-year state budget bill that, if passed in it’s current form by the Senate and signed by the governor, will make several significant changes to Ohio tax law. The House
Indiana State Bill 382 was enacted on March 15, 2022, when signed by Governor Eric Holcomb. Authored by Senator Travis Holdman and Senator Brian Buchanan, the bill covers various tax and fiscal policy, but most excitingly for those in the affordable housing industry, creates a state tax credit. The credit
How has data analytics helped drive the decision-making process in your industry? In Wholesale and Distribution, there are countless data points to help distributors make informed decisions for best practices. As technology and capabilities grow, there are many opportunities to enhance workflows and productivity throughout the industry. Five key tactics
What key trends are driving construction in 2025, and what’s the industry’s expected trajectory this year? On February 7, 2025, Barnes Dennig, BMO, Michaelis Corporation, and USI Insurance hosted top construction consulting firm FMI’s Emily Beardall as she unpacked emerging trends in the construction industry. Right now, industry leaders and
The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially, only community financial institutions will be able to make
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. Interim Rules The immediate effective date of this interim final rule will benefit small businesses so that they can immediately