Implementing the new lease accounting standard is turning out to be more complicated than many originally expected – and one of the biggest challenges is identifying and properly classifying leases (not all leases that qualify under the new standard necessarily say “lease” at the top of the document). Once you’ve
The SECURE Act (Setting Every Community Up for Retirement Enhancement), passed in late 2019, included the most updates to retirement legislation in over a decade. The legislation’s goal was to encourage more Americans to improve their retirement savings. As we noted at that time, the provisions of the SECURE Act
2019 began with expansion for the construction industry, a recent Associated Builders and Contractors, Inc. (ABC) study reports. According to ABC, nonresidential spending totaled $762.5 billion for January 2019, which represents an increase of 4.8 percent over January 2018. Similarly, FMI’s recent first quarter 2019 report indicated the engineering and
Over the course of the COVID-19 pandemic, the Small Business Administration (SBA) has been charged with the challenging task of managing important relief programs including the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program. The ongoing changes, clarifications, and updates have left many borrowers’ and applicants’ heads
A new bill, the Prioritized Paycheck Protection Program (P4) Act, was introduced in the Senate on June 18, and if it becomes law, it will allow certain small businesses to apply for a second Paycheck Protection Program loan (PPP). The PPP – which offers loans that can amount to as
Accurate preparation of a trust tax return goes well beyond mere numerical calculations and form submissions – a comprehensive grasp of the trust’s framework, operational dynamics, and financial undertakings is imperative. Trust analysis is a cornerstone in this endeavor, ensuring meticulous adherence to tax statutes while optimizing tax efficacy. Let’s
In Fall 2019, Barnes Dennig’s Transaction Advisory Services group presented an expert panel discussion tasked with solving the puzzle of buying, selling and valuing a business. The panel was led by moderator Dino Lucarelli, CPA, director and leader of Barnes Dennig’s Transaction Advisory Services group, who has been leading successful
Financial due diligence is an essential review of your organization’s financial health. Similar to an audit, financial due diligence includes bringing in an outside firm to get a better understanding of your financial situation and future prospects. It’s also a critical part of any merger or acquisition – as a
Where Public Service Meets Peace of Mind The challenges faced by government agencies and educational institutions require a special kind of expertise—ours. Our specialized educational and governmental services practice is dedicated to providing comprehensive audit and financial services tailored to meet the specific needs of these sectors. With a focus
Organizational leaders make decisions every day with a focus on the future. That future picture relies heavily on the forecast and projections – so they need to be accurate. Unless you’ve got a crystal ball, financial forecasting and projections take work. It requires a special combination of knowledge and skill