Managing Your Business
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The Events In Ukraine Can Have An Impact On Your Manufacturing Company
Cybersecurity has been a topic in most conferences and industry meetings over the last few years. With the recent events in Ukraine, it is imperative that all manufacturing and distribution companies take the time to ensure that their systems are protected.
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The “Great Resignation” May Lead To Tax Savings
If you are like most manufacturers, workforce continues to be one of your highest priorities. Companies are searching for solutions in various arenas as they attempt to work through their workforce challenges.
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Finance Team Burn Out
The “great resignation” has put a strain on our country’s workforce. U.S. manufacturing companies are not immune from this phenomenon and many have seen higher than normal turnover in their finance teams in the last 12-18 months.
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Inflation Can Create Tax Opportunities
America has not seen double digit inflation since 1980. While we are still far from double digits, the 7% inflation rate in 2021 was twice what it has been over the last 30 years. Economists don’t agree on whether this inflationary trend will continue into 2022 and beyond, but most feel that it will at […]
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Start 2022 Strong: Capitalize On Lessons Learned in 2021
All businesses have been impacted by a fluctuating economy, increased legislation, regulatory change, higher inflation and workforce shortages in the last 12 to 24 months. There are many lessons that have been learned from these changes which can make businesses even stronger in 2022.
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Determining Your Business Readiness for Transition
If you are contemplating a business transition, you definitely want your business to be as attractive as possible to a potential buyer. Many owners concentrate solely on the financial readiness of their business when they are considering a business transition. However, the value multiplier is equally, if not more important.
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How A Manufacturer Can Save Tax $ On International Sales
Does your manufacturing company have at least $1 million of sales outside of the U.S.? Whether tax rates increase through legislation or remain the same, you may want to consider creating a new entity to save U.S. tax dollars on your international sales.
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Can I Have Some SALT With That?
Most of us know that Congress limited the state and local tax deduction (SALT) to $10,000 starting in 2018. The current Build Back Better proposal reinstates a larger SALT limitation at the $80,000 level retroactive to January 1, 2021.
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Can a Business Deduct Part of Its Building for Tax Purposes?
Commercial buildings and their components are usually depreciated over a 39-year life for tax purposes. However, through the use of a Cost Segregation Study, a business can reclassify many of the components of its building as personal property with a much shorter tax life that qualifies for an immediate bonus depreciation deduction.
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A Reverse Sales Tax Audit May Generate Big Refunds
The best time to consider a reverse sales tax audit is now. You may have just been notified that your company is being audited by one or more states for sales tax. Or you may just be concerned that you are paying too much in sales tax.