What are these two schedules? Schedule K-2 “Distributive Share Items – International” and Schedule K-3 “Share of Income, Deductions, Credits, etc. – International” are intended for pass-through entities (PTE) to consistently report international tax information. This allows for clearer instructions to owners to report the international income, deductions, and information
Cost Segregation Studies When the dust settles on your expensive new building project, or your purchase of an existing facility, your first thought may likely be, “How quickly can I recoup some of my investment?” Depreciation on real property (buildings) can last up to 39 years – so you won’t
Meeting the Challenges of Success Barnes Dennig Furnishes Innovation to Like-Minded Manufacturer Successful CPA Jon Randman was ready to change direction — in more ways than one. He’d made the decision to leave Chicago and return to his hometown of Cincinnati. And, seeking a career change, he’d also bought a
In March, The Internal Revenue Service (IRS) announced the extension of filing and payment of federal taxes due on April 15, 2020, to July 15, 2020. This extension allows for no late filing penalties or interest to be assessed. Notice 2020-23 was issued late last week to provide additional tax
Trusts are foundational tools in estate planning, enabling you to manage and distribute assets according to your preferences. But is a simple or a complex trust the right tool for your situation? The choice profoundly influences tax outcomes and overall financial strategies, so to help you identify which is a
You likely had filed your Form 5500 for your employee benefit plan prior to its October 15 due date. If you delayed filing because the plan’s financial statement audit was not yet complete, the Department of Labor (DOL) advises that you reconsider. Employee benefit plans that are considered “large plans”
Soliciting online donations is emerging as the preferred fundraising method for many nonprofits, and it’s easy to understand why. Donors have discovered that online gifts are quick and easy to make, and nonprofits are happy that donation receipts can get generated instantly, making record-keeping a breeze. According to a recent
As we monitor ongoing developments and safety information related to the Coronavirus (COVID-19), we wanted to reach out and let you know how Barnes Dennig is addressing these issues. Since the day we were founded, we have been organized around two priorities: exceptional client service and our steadfast commitment to
Reconnecting with Barnes Dennig Helps Company Reclaim Its Identity Tax Strategies & Construction Industry Experience Key to a Strong Start He’d made up his mind. It was time to buy his company back. That company was TP Mechanical, a plumbing and mechanical design and installation business with locations in three
Recent advances in technology have accelerated the way that business are evolving at an unprecedented rate. The dawn of 5G and advances in communications technology have sped up expectations on both the business and consumer ends of business: Companies like Amazon have completely overturned decades-old business models and core competencies
The intense focus and passion of an entrepreneur or small business owner is reflected in their unrelenting commitment to success. The early mornings and late nights create the “sweat equity” that builds the business’s value. As success builds and growth takes off, it’s critical to have an accurate and reliable
The One, Big, Beautiful Bill Act (OBBBA) has brought about a variety of changes to the tax landscape, including a key change pertaining to the excess business loss (EBL) limitation. This provision, initially a part of the Tax Cuts and Jobs Act of 2017, has been made permanent by the