The One Big Beautiful Bill Act (OBBBA) relieves the filing requirements for certain 1099 forms used to report various types of income. These include: Form 1099-MISC: for reporting miscellaneous income, Form 1099-NEC: for reporting non-employee compensation, and; Form 1099-K: for reporting payment card and third-party network transactions. As of July
529 plans have long been a great option for efficiently saving for college expenses – but when the SECURE 2.0 Act was passed in December 2022, they got even better thanks to a new option for 529 plan rollovers. The new provision allows for tax-free and penalty-free rollovers from a
The forces driving the global economy are increasingly complex, shaped by evolving inflation trends, demographic shifts, and fiscal policies that promise to influence growth trajectories in the United States and globally. In this exclusive virtual event presented by Barnes Dennig, Huntington Bank, and Frost Brown Todd, Connor Lokar, senior forecaster
In what seems to be an everlasting battle, the effects of the pandemic are still being felt nationwide. It has required businesses to adapt and change what was once the norm. Allowing employees to work from home has been a major change made by many employers. This has raised concerns
The non-profit sector has always been the heartbeat of our communities, the first to respond in times of crisis, and last to leave when the work is done. Today, as we face unprecedented challenges in terms of funding, the regulatory environment, and rapid economic change, it’s time to reflect on
Corporations and businesses with international operations may soon see a bigger tax bill. On March 31, 2021, President Joe Biden unveiled the American Jobs Plan, which focuses on upgrading and repairing physical infrastructure, investing in manufacturing, and expanding long-term healthcare services. And to offset the cost of the American Jobs
Commitment to Community Commitment to community is a defining principle for Barnes Dennig, and we work tirelessly to enhance and enrich the communities where we all live and work. We recognize much of our success has been supported the strong, vibrant markets that we serve, and feel fortunate to be
As President Trump gears up to sign an executive order expected to encourage private-market investments in U.S. retirement plans, the financial community is split on the benefits and risks of including private equity in 401(k) plans. This move could signify a significant shift in the retirement savings landscape, potentially opening
When stakeholders such as funders, lenders, investors, or board of directors request financial statements, they may be looking for varying levels of assurance. Some want a high level of assurance, others are comfortable with a lighter level of review, and some simply need clear, well-organized financials. Understanding the differences between
In its latest economic update, Construction Industry CPAs and Consultants (CICPAC) outlined major factors and risks the construction industry faces. Real GDP, labor costs, and the availability and price of raw materials top the list – but a few others may come as a surprise. We’re hitting the highlights –
Construction Executive Magazine’s hot-off-the-press list of Top 50 Construction Accounting Firms™ for 2021 names Barnes Dennig to its exclusive list, reinforcing the firm’s strength in accounting and business consulting for the construction industry. “It’s a tremendous honor to be a part of this prestigious list for the second time,”
In the fight against the ever-increasing threat of cybercrime, the payment card industry (PCI) Security Standards Council has issued an updated PCI Data Security Standard (DSS) – version 4.0. The new standard went into effect on March 31, 2024, and compliance is critical for maintaining secure payment environments – and