In a recent, well-reasoned case, the Sixth Circuit upheld a taxpayer’s use of an IC-DISC as a Roth IRA investment to accumulate earnings tax-free. The investment was established by the following steps: Roth IRA owns shares of Holding Company (Holdco); Holdco owns shares in IC-DISC, a tax-exempt entity for export
Tax amnesty is a limited time opportunity for taxpayers to pay a defined amount of outstanding income, sales or other taxes in exchange for forgiveness of interest and penalties and waiver of criminal prosecution relating to a previous tax period or periods. Amnesty programs can potentially reduce state tax liabilities
At one of our recent Not-for-Profit roundtable luncheons, dedicated to mental health and wellness organizations, our discussion covered such a wide variety of topics, that we felt it would be most helpful to gather the group’s ideas and share them on our blog. Mental Health Not-for-Profits Issues Here are some
Ohio Governor John Kasich released the fiscal year 2018-2019 budget on January 30, 2017. Key tax reform proposals of particular interest to commercial builders and construction contractors include: Simplifying Municipal Tax Filing for Businesses to Encourage More Economic Growth: The Ohio local tax compliance burden is onerous for contractors who
With approximately 22 percent of employees planning to leave the workforce in the next five years, and 44 percent in the next ten years, it’s no surprise that effective recruiting and retention strategies are continually at the top of contractors’ greatest concerns. Barnes Dennig recently hosted Stephen Boughton of
The National Association of Wholesaler-Distributors (NAW) has recently published its newest installment in its highly illuminating and influential series, Facing the Forces of Change. The 11th installment (Navigating the Seas of Disruption) is a deep dive into the wholesale/distribution industry. The report is full of very powerful insights from