Tag: Manufacturing Accounting

Running a successful manufacturing business requires so many things to go right, from navigating hiring shortages and global supply chain logistics to market forecasting and the challenges of digital transformation. When your business is growing, Read More

Manufacturing businesses typically operate on narrow margins, complicated by inventory challenges and material costs over which they have little control. It’s an environment in which a thorough understanding of the true cost of the products Read More

Implementing year-end tax planning strategies now can help reduce your manufacturing company's 2023 tax bill. Indeed, a lower tax bill can improve your cash flow and your bottom line. One of the most tried-and-true strategies Read More

Manufacturing 4.0, sometimes called "Industry 4.0," refers to the digitalization of manufacturing. That means the integration of traditional manufacturing processes and practices with cutting-edge "smart" technology. How might Manufacturing 4.0 benefit your manufacturing company? According Read More

For decades, products that were made in America were synonymous with high quality and were manufactured in great abundance. Comparable products from other countries were often viewed as cheaper knockoffs. However, in the late 20th Read More

The SECURE 2.0 Act, enacted at the end of 2022, expands on the retirement plan improvements made by the Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act). In general, SECURE Read More

How inventory is accounted for can have a significant impact on your tax bill if your business involves the production, purchase or sale of products. In some cases — particularly during periods of high inflation Read More

Does your manufacturing company need to acquire new equipment to meet demand? Fortunately, there's a tax break that can help: the Section 179 deduction. It allows you to deduct this year the cost of qualifying Read More

As the midpoint of the year fast approaches, it's a good time for manufacturers to assess their tax status and plan appropriate strategies for reducing their 2022 tax liability. Although each situation is unique, here Read More