Tag: Manufacturing

Manufacturers must comply with all relevant tax laws to avoid dire consequences. While the most attention is generally directed toward federal income and payroll taxes, there's another potential aspect to consider: state sales tax. The Read More

The Inflation Reduction Act (IRA), enacted in late 2022, provides valuable tax credits that support clean energy manufacturing. Significantly, the law created the Advanced Manufacturing Project Tax Credit (45X MPTC), which is an incentive for Read More

Small business owners often have accounting questions and financial advisory needs that don’t always occur at regular intervals or around tax time. Opportunities to grow your business crop up with a little warning. How does Read More

The IRS has released proposed regulations that provide guidance for manufacturers on the implementation of the Advanced Manufacturing Investment Credit. The credit, created by the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act, encourages manufacturers 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

While your P&L paints a broad picture of financial viability, it may not be telling you the whole story. Too often, businesses have a financial reporting structure that makes it difficult to identify what’s driving Read More

After your manufacturing company's 2022 tax return has been filed, you can focus your efforts on reducing its 2023 tax liability. What are the top tax-saving opportunities available to manufacturers this year? Here are seven 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

Are you up to date on the latest tax law changes that could affect your manufacturing business? Barring further legislation, certain key provisions have expired or have begun to phase out. Here are three that Read More

As the end of the year nears, manufacturers are looking to get the most tax bang for their buck. One proven method is to maximize tax breaks relating to depreciation. In some cases, your company Read More