We are deeply saddened by the death of our former director and friend Don Zwilling. Don contributed to the legacy of Barnes Wendling CPAs with over 50 years of distinguished service to the firm. Don’s duties in… The post We are saddened to announce the passing of Donald F. Zwilling appeared first on Cleveland CPA Accounting Firm | Barnes Wendling CPAs ..read more

The Inflation Reduction Act (IRA) of 2022 contains numerous provisions that create or expand tax incentives for the use of and investment in clean energy technologies. In the past, nonprofit organizations with tax-exempt status have not been… The post How Nonprofits Can Benefit from Clean Energy Tax Credits in the Inflation Reduction Act appeared first on Cleveland CPA Accounting Firm | Barnes Wendling CPAs ..read more

Across the country and across many industries, there is an ongoing need to innovate. Of course, coming up with the next big thing often requires a great deal of investment, time, research and development. This can add… The post What Business Owners Should Know About the R&D Payroll Tax Credit in 2024 appeared first on Cleveland CPA Accounting Firm | Barnes Wendling CPAs ..read more

You’ve started and established your business, despite everything that was against you. But that doesn’t mean that it’s time to sit back and take it easy! Succession planning for your business can begin the day you start… The post Preparing for Transition? Make a Successful Ownership Transition by Knowing Your Options appeared first on Cleveland CPA Accounting Firm | Barnes Wendling CPAs ..read more

In March 2023, the Financial Accounting Standards Board (FASB) proposed a number of changes to income tax disclosures in the United States. In August, the board voted to finalize those changes—and they are beginning to go into… The post New Income Tax Disclosure Requirements: What It Means for Your Business appeared first on Cleveland CPA Accounting Firm | Barnes Wendling CPAs ..read more

The owners of privately held companies are often focused on generating cash flow to drive a higher value for their companies. At the same time, there are non-financial factors that business owners can address to enhance the… The post Non-Financial Factors that Drive Value for Privately-Held Companies appeared first on Cleveland CPA Accounting Firm | Barnes Wendling CPAs ..read more

Tax-exempt status for non-profit organizations allows them to devote their resources to pursuing their missions. To maintain that status, however, nonprofits must demonstrate that they are following various tax regulations and accounting rules. Failure to maintain accurate… The post What Non-profit Organizations Need to Know about Financial Reviews appeared first on Cleveland CPA Accounting Firm | Barnes Wendling CPAs ..read more

A recent U.S. Department of Labor (DOL) rule was issued to help business owners properly classify workers as employees or independent contractors. The new regulation (RIN 1235-AA43)  was also enacted to help protect workers’ rights. The new… The post Six factors to help determine whether a worker is an employee or independent contractor appeared first on Cleveland CPA Accounting Firm | Barnes Wendling CPAs ..read more

A rule change, effective Jan. 1, 2024, for the 2023 tax year, requires businesses that file 10 or more information returns with the Internal Revenue Service (IRS) to do so electronically. Before the new rule, only businesses… The post If your business files >10 information returns, e-file is now required appeared first on Cleveland CPA Accounting Firm | Barnes Wendling CPAs ..read more

With changes to the estate tax rules, effective Jan. 1, 2026, many owners of closely held businesses will face serious real value and liquidity issues. With the new rule, the estate tax exemption threshold drops from $12.92… The post To sell or not to sell: Is a business sale needed to generate liquidity or can IRC Section 6166 save the day? appeared first on Cleveland CPA Accounting Firm | Barnes Wendling CPAs ..read more