Bringing up your next generation of leaders In a family business, bringing up the next generation of leaders can be a difficult and politically-charged endeavor. So it’s crucial to get it right if you want your business…
Why Is a Succession Plan So Important? Business leaders and owners typically are good at building their companies and realizing success in their positions and respective industry (ies), just as was envisioned at the startup stage. But…
If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your…
PREPARE YOUR BUSINESS WITH THESE TAX DEADLINES Below is a list of first quarter 2022 tax deadlines for business and other employers. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that…
Among the biggest long-term concerns of many business owners is succession planning — how to smoothly and safely transfer ownership and control of the company to the next generation. From a tax perspective, the optimal time to…
The Employee Retention Credit (ERC) was a valuable tax credit that helped employers survive the COVID-19 pandemic. A new law has retroactively terminated it before it was scheduled to end. It now only applies through September 30,…
At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties again after a year of forgoing them due to the pandemic. It’s…
The end of the tax year is fast approaching for many businesses, but their ability to engage in traditional year-end tax planning may be hampered by the specter of looming tax legislation. The budget reconciliation bill, dubbed…
Almost three months after it passed the U.S. Senate, the U.S. House of Representatives has passed the Infrastructure Investment and Jobs Act (IIJA), better known as the bipartisan infrastructure bill. While the bulk of the law is…
We originally published this article in late 2021 but thought it relevant to re-share. We updated data for 2023. If you’re planning to start a business or thinking about changing your business entity, you need to determine…
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…
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…
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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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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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Michelle Saylor, Former Controller, Aero Mag
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