When entrepreneurs come together to begin a business, they are bombarded with legal filings and agreements drafted by their counsel that they rush to sign, often without considering the future ramifications. Many times, these agreements are standard…
For the second consecutive year, the IRS has postponed implementation of a new rule that would have led to an estimated 44 million taxpayers receiving tax forms from payment apps and online marketplaces such as Venmo and…
These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What makes intangibles so complicated? IRS regulations require the capitalization of costs to: Acquire or create an intangible asset, Create…
If you’re contemplating selling your manufacturing business, be sure you understand the tax implications. Business structure (as well as the transaction) can impact your tax bill and, therefore, your net proceeds from the sale. Here are some issues to consider.…
We originally published this article in 2022 but thought it relevant to re-share. We updated data for 2023. In recent years, merger and acquisition activity has been strong in many industries. If your business is considering merging…
Prepare for the New 1099-K Threshold Now Businesses should be aware that they may be responsible for issuing more information reporting forms for 2022. More workers may fall into the required range of income to be reported.…
What are the tax consequences of selling property used in your trade or business? There are many rules that can potentially apply to the sale of business property. Thus, to simplify discussion, let’s assume that the property…
If you run a business and utilize payment apps such as Zelle, Venmo, Square, or PayPal, you could be affected by new tax reporting requirements that take effect for 2022. They don’t alter your tax liability, but…
We originally published this article in 2021 but thought it relevant to re-share. We updated data for 2023. If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions…
Our own Floyd Trouten joins a group of financial experts to discuss getting your business accounting prepared for any transaction in any economy at the 2020 Smart Business Dealmakers Conference. Featuring: Floyd Trouten, Director, Barnes Wendling…
In this episode Director Mike Pappas discusses how important it is to have an Exit Plan before you are ready to actually exit your business. He will discuss the following: The importance of exit planning The key…
Selling your business can come with a lot of uncertainties In this Part 2 series we will further discuss if this is the right time to sell your business. Key items discussed: Basics of Business Worth and…
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I appreciate the exceptional tax advice we received over the years. The (BW team) has a good grasp of our business needs. Thank you for your excellent service.
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Barnes Wendling has been our company accountants for over seven years. Their knowledge has been instrumental in helping us grow strategically during this time. And although we’ve seen many changes in our economy that we cannot control, we’ve always been able to trust the Barnes team to be by our side. The Barnes team feels like family. We can’t thank them enough for their support!
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Barnes Wendling has been our company accountants for over 15 years. During this time, the business has grown exceptionally, and Barnes has kept pace, providing accurate, quality advice. Our finances are more efficient than ever, and the expense of hiring Barnes has been a definite positive add to our bottom line. I give my highest recommendation to their firm.
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Barnes Wendling has provided us guidance and recommendations that have strategically helped strengthen our business and position ourselves for growth. We needed to hire a new VP of Finance and Controller this past year, and they were instrumental in helping us find the best candidates for our company.
Sara Blankenship - President, Kaufman Container
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We value the trust, accuracy of information, and reliability of Barnes Wendling and Mike Essenmacher personally. Mike has been instrumental as a trusted advisor on accounting, tax, and personnel issues. His advice is always accurate, and he is very reliable. His associates are also very talented.
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We value Barnes Wendling’s expertise with all things accounting so we can operate our business using our strengths and allowing them to be our experts. They have also brought me a few business sale opportunities to allow me to grow my assets.
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Barnes Wendling (especially Lena) did a great job with our financials. Everything. It is extremely refreshing and comforting to know that all of our numbers are not only correct, but they are in the right place(s). Your diligence and reporting truly does make me (personally) feel better.
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I can wholeheartedly tell you that I have yet to work with an audit or tax team that have been more helpful, easy to work with, and committed than the team at Barnes Wendling- I have been through three different firms in the last few years.
Michelle Saylor, Former Controller, Aero Mag
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Floyd Trouten at Barnes Wendling CPAs is an “expert’s expert” when it comes to M & A accounting. Not only does he understand the evolving details of the Tax Code but he also sees the fine points of their application for owners, managers, investors, and financiers.
Mark A. Filippell, Western Reserve Partners
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The service is amazing at Barnes Wendling CPAs. The benefit is worth more than the cost. Sometimes it’s true that you get what you pay for.
Mark Boucher - Former Owner, Castle Heating & Air
