Transaction accounting involves recording, summarizing, and reporting financial information. It also involves keeping a detailed record of every transaction as it occurs so you can present a clear picture to measure progress and performance. Maintaining such records accurately is critical to management’s understanding of the financial performance of the company
The CARES Act contains robust tax provisions effective for years 2018, 2019, and 2020, including those that allow taxpayers to take advantage of specific expensing rules for the affected years. How can you maximize those provisions for your business? There are many options to consider, and you may be wondering
The Ohio Department of Job and Family Services (ODJFS) has announced up to $25 million in federal Coronavirus Aid, Relief and Economic Security (CARES) Act grants to non-profit agencies that serve low-income Ohioans and have been adversely impacted by the COVID-19 pandemic. Awards will be provided in a discretionary manner
Looking to move into a new market? Ready to invest in R&D? You’re probably going to need to raise some new capital. But, it takes a lot of time, effort, and creative energy to get the cash you need. Investors, including lenders and equity providers, ask for lots of information
The COVID-19 pandemic brought seemingly endless challenges for virtually everyone – families, individuals, businesses, and non-profit organizations alike. Helping navigate these challenges has been the focus of multiple federal relief packages passed over the past 18 months – and other local government issues (including those involving municipalities) have largely been
Clarity. Continuity. Confidence. Managing the family portfolio and household operations shouldn’t feel like a second full-time job. At Barnes Dennig, we help families simplify complexity with integrated financial and lifestyle support that flexes as your needs evolve. Our Family Office & Advisory Services team provides right-sized, right-now solutions. We deliver
Specific Tax Provisions to Leverage for Optimized Results The March 27th, 2020 signing of the Coronavirus Aid, Relief, and Economic Support (CARES) Act created immediate economic support in the form of loans, subsidies, and much-needed tax relief, including several important tax provisions. The CARES Act increases interest expense
Despite the many challenges of 2020 and the global pandemic, many of us are fortunate to have remained in good health – but others are not so lucky. Especially as the country faces an aging population, many families must travel to nursing homes or adult care facilities to see loved
Did you receive an IRS notice to submit a previously filed 2020 tax return? As the Internal Revenue Service struggles with a still massive backlog generated by the pandemic and staffing challenges – the same issues impacting nearly every sector of the economy – some automatically generated IRS notices are
In a surprise move, on May 20, 2020, the Financial Accounting Standards Board (FASB) approved a one-year deferral to the effective date of the revenue standard (FASB ASC Topic 606, Revenue from Contracts with Customers) for all nonpublic and not-for-profit entities that have not issued their financial statements.
Construction companies and contractors in Dayton and across Ohio are faced with a bevy of management challenges. Not only are there traditional accounting and financial reporting concerns, but also issues unique to industry companies. This requires management to focus on traditional issues such as cash flow optimization, job costing analysis,
The decision to sell a business can be a difficult one, and rarely do business owners know when exactly the right time to sell is. As private equity buyouts have surged in recent years, especially in the wholesale distribution industry, it has become increasingly important to always have your business