With the increasing cost of employee health care benefits, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). For eligible individuals, an HSA offers a tax-advantaged way to…
Employers offer 401(k) plans for many reasons, including to attract and retain talent. These plans help an employee accumulate a retirement nest egg on a tax-advantaged basis. If you’re thinking about participating in a plan at work,…
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for 2021). Wages and self-employment income above this threshold aren’t subject to Social…
By Donald Zwilling, CPA, ABV, Director How Did Your Career Start at Barnes Wendling? After graduating from the University of Dayton in a 1967 summer school ceremony, I was hired by Barnes Wendling and started on September…
Negotiations continue in Washington, D.C., over the future of President Biden’s agenda. Tax law changes may be ahead under two proposed laws, the Build Back Better Act (BBBA) and the Bipartisan Infrastructure Bill (BIB), also known as…
Run a business for any length of time and the importance of cash flow forecasting becomes abundantly clear. When payroll is due, bills are piling up, and funds aren’t available, blood pressure tends to rise. For this…
Are employees at your business traveling again after months of virtual meetings? In Notice 2021-52, the IRS announced the fiscal 2022 “per diem” business travel rates that became effective October 1, 2021. Taxpayers can use these rates…
Low interest rates and other factors have caused global merger and acquisition (M&A) activity to reach new highs in 2021, according to Refinitiv, a provider of financial data. It reports that 2021 is set to be the…
We originally published this article in late 2021 but thought it relevant to re-share. We updated data for 2023. Do you use an automobile in your trade or business? If so, you may question how depreciation tax…
The U.S. economy has been nothing short of a roller-coaster ride for the past year and a half. Some industries have had to overcome seemingly insurmountable challenges, while others have seen remarkable growth opportunities arise. If your…
Commercial loans, particularly small business loans, have been in the news over the past year or so. The federal government’s Paycheck Protection Program has been helpful to many companies, though fraught with administrative challenges. As your business…
Ideally, investment planning involves a long time horizon – 10, 20, or even 40 years – to reap the benefits of long-term gains in the stock market. When you’re saving for buying a house, paying college tuitions,…
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