Can your business benefit from a C corporation? If you’re launching a new business venture, you’re probably wondering which form of business is most suitable. Here is a summary of the major advantages and disadvantages of doing…
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…
While the recently announced student loan debt relief has captured numerous headlines, it’s estimated that another federal relief program announced on the same day will provide more than $1.2 billion in tax refunds or credits. Specifically, IRS…
The U.S. Senate and House of Representatives have passed the Inflation Reduction Act (IRA). The IRA includes significant provisions related to climate change, health care, and taxes. The IRA also addresses the federal budget deficit. According to…
Unfortunately, many businesses have had to close because of the pandemic and the economic downturn. Therefore, we can help you if this is your situation, including taking care of the various tax responsibilities that must be met.…
In spite of a slowdown in merger and acquisition activity in 2022, companies are still being bought and sold. If your business is considering merging with or acquiring another business, it’s important to understand how the transaction…
The next quarterly estimated tax payment deadline is June 15 for individuals and businesses, so it’s a good time to review the rules for computing corporate federal estimated payments. You want your business to pay the minimum…
Adding a new partner to a partnership has several financial and legal implications. Let’s say you and your partners are planning to admit a new partner. The new partner will acquire a one-third interest in the partnership…
S Corporation vs. LLC: Which Is Right for Your Manufacturing Company? For decades, owners of small to midsize manufacturing companies have opted for the S corporation form of ownership, rather than being subject to the double taxation…
What to remember for the new 2020 Tax Deadline Normally at this time of year, your income tax returns would be a distant memory. But this is not a normal year. The IRS pushed the April 15…
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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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