Tag: Manufacturing

The IRS has published final regulations for the Section 45X advanced manufacturing production credit. The final regs update several significant areas from the proposed regs released in late 2023.   The Credit in a Nutshell Read More

Internal Revenue Code Section 179 potentially allows significant first-year depreciation deductions when your business places qualifying assets into service. You generally want to maximize current year depreciation write-offs for newly acquired business assets. However, the Read More

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

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

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

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

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

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

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

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