How To Handle the Changes to R&E Tax Treatment

The Tax Cuts and Jobs Act (TCJA) included a significant — but delayed — change to the tax treatment of research and experimentation (R&E) expenses under Internal Revenue Code (IRC) Section 174. To the surprise Read More


Kirsch CPA Group

Nov 05, 2024

Manufacturers: How Vulnerable Are You to Fraud?

Fraud is a significant problem for all businesses, but the manufacturing industry is particularly vulnerable. According to the Association of Certified Fraud Examiners (ACFE), manufacturing is among the industries with the highest number of reported Read More


Kirsch CPA Group

Oct 25, 2024

Manufacturers: Implement Year-End Tax Planning Strategies Now to Reduce Your 2024 Tax Bill

As the year draws to a close, it's generally manufacturers' last chance to implement strategies to reduce their 2024 tax liability. Several provisions of the Tax Cuts and Jobs Act (TCJA) can still provide substantial Read More


Kirsch CPA Group

Oct 14, 2024

How To Choose the Best Inventory Accounting Method for Your Manufacturing Company

Your choice of accounting method for determining the value of your manufacturing company's inventory can significantly impact your overall tax bill. Here are answers to some key questions regarding the tax and financial implications of Read More


Kirsch CPA Group

Aug 26, 2024

Manufacturers Should Consider These 7 Midyear Tax-Reduction Moves Now

July marks the halfway point of the year and is generally an ideal time for manufacturers to assess their tax situation and plan appropriate strategies for reducing their 2024 tax liability. Bearing in mind that Read More


Kirsch CPA Group

Jul 17, 2024

Can Your Manufacturing Company Benefit from a Cost Segregation Study?

When manufacturers buy, build or improve their facilities, it involves a substantial investment. But these expenses generally can't be immediately deducted for tax purposes. Fortunately, there may be another approach that will allow you to Read More


Kirsch CPA Group

Jun 12, 2024

IRS Issues Final Regulations Regarding the Advanced Manufacturing Investment Credit

The Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act — signed into law in 2022 — provides generous tax incentives to increase domestic production of semiconductors, also known as chips. More specifically, the Read More


Kirsch CPA Group

May 10, 2024

10 Ways Cloud Computing Can Benefit Manufacturers

The quest for skilled laborers As the end of the first quarter of the 21st century nears, cloud computing has become an integral part of the modern-day manufacturing environment, growing in leaps and bounds over Read More


Kirsch CPA Group

Apr 10, 2024

Can Your Manufacturing Company Benefit From the Work Opportunity Tax Credit?

The quest for skilled laborers in the manufacturing sector continues. Indeed, more than 600,000 manufacturing-related jobs remained open in December 2023, according to the U.S. Bureau of Labor Statistics. The Manufacturing Institute, an independent industry Read More


Kirsch CPA Group

Mar 13, 2024

How Manufacturers Can Factor Depreciation Tax Breaks Into Their 2024 Asset Purchase Planning

What's the tax outlook when manufacturers purchase equipment and other tangible property, various tax breaks are available, including Section 179 expensing and first-year bonus depreciation. For 2024, bonus depreciation has dropped another 20 percentage points Read More


Kirsch CPA Group

Feb 12, 2024