Supply chain strains and changes in inventory demand are just a few of the challenges manufacturing companies have seen over the last few years. Driven by multiple factors, these challenges have driven companies to look at internal changes to help them free up capital. How inventory is managed, when it’s
As the construction industry faces another year of shifting momentum, the latest 2025 CICPAC Economic Newsletter offers critical insights into the forces reshaping the field. From tariff-driven cost volatility and inflationary pressure to workforce shortages and historic legislative incentives, this quarter’s report captures a sector navigating immediate challenges while preparing
IRS Ruling Creates Potential Win-Win for Employees Many companies have established leave-sharing plans, which allow employees to donate accrued leave time for use by others in the company. In general, the employee who donates the time will report that paid time off (PTO) as taxable compensation on their W-2. However,
During the height of the pandemic in 2020, carmakers across the world struggled to maintain adequate inventory, largely due to a global microchip shortage, and had to find new ways to shore up revenue and profit – we shared insights on how they managed in a recent video, available on
Note: The information in this blog is accurate as of 1:00 PM ET on March 5, 2025. We will continue to monitor news out of Washington and will update as information becomes available. Update 3: As of Thursday, March 6, 2025, President Trump has announced that Canadian and Mexican tariffs
The last of the Big Three accounting standards changes – the Current Expected Credit Losses (CECL) is now in effect for non-financial institutions. And as with revenue recognition and lease accounting, that means big changes are on the horizon. First, some background on the CECL In June 2016, the FASB
In May, Ohio Valley Associated Builders and Contractors (ABC) and Barnes Dennig partnered on an Ask the Experts panel discussion on PPP loans and other aspects of the CARES Act and the FFCRA. This summary outlines the questions and answers from that session. The on-demand recording is also available for
On November 2, 2020, the Ohio Bureau of Workers’ Compensation (BWC) board approved a third dividend to Ohio businesses to provide continued financial support through the COVID-19 pandemic. The dividend, totaling $5 billion, is provided to eligible employers based on their billed premiums for the policy period of July 1,
https://www.youtube.com/watch?v=55kCaiQ5y1w Can’t watch the video? Download the transcript. What do you need to know to be ready for your first employee benefit plan (EBP) audit? What are common mistakes and watch-outs? And what’s the 80-120 rule again? Barnes Dennig EBP Audit professionals unpack critical elements of first-time EBP audits. If
Declining health and growing data are two of the four major economic trends that will shape the construction industry over the next half-decade, according to a new report by construction research and consulting firm FMI. In “The New Economy Versus the Old Economy: Winners and Losers in Tomorrow’s Built Environment”
This is an update to a previous post on the Ohio Scholarship Donation Credit. Reducing your income taxes while benefiting a charitable organization at the same time provides a welcome opportunity for many taxpayers. The State of Ohio introduced the Ohio Scholarship Donation Credit in 2021, and it continues to
The IRS has released additional guidance on how individual taxpayers can determine their deduction amounts for qualified tips and overtime wages under the OBBBA for 2025. This update is important because Forms W-2 1099 forms will not be modified for 2025 to reflect these new deductions. Refresher As noted in