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Considering Selling your Business? Know the Tax Implications Before You Close the Deal
How a deal is structured can have major implications on the owner personally from a tax perspective.
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What manufacturers should know about the new Section 45X tax credit
Section 45X was added to the tax code by the Inflation Reduction Act of 2022 (IRA) as an incentive for U.S. manufacturers producing various components for clean energy technologies. Titled the “advanced manufacturing production credit,” it can be claimed as a dollar-for-dollar reduction of federal income tax liability or as a direct payment from the […]
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Why the S in ESG is Increasingly Driving Consumer Demand
With more than ¾ of consumers caring about sustainability, find out how manufacturers are adapting with a present and future framework.
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Ten Strategies for Using AI in Manufacturing
Three senior executives share 10 key building blocks of an AI strategy for manufacturing.
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From Turnover to Thriving…3 Tips to Unleash Your Culture for Recruiting Power
“We’re Hiring” is not a differentiator. Find out ways to go from an empty list to a waiting list for key positions.
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From Turnover to Thriving: 6 Non-Traditional Sources for Finding Manufacturing Talent and a Key Differentiator for Attracting People
With labor tight in many industries, manufacturing leaders have opportunities to tap into 6 untapped channels for recruiting. Discover how to attract great talent…and differentiate as an employer. It’s more than just about money…
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House Committee Pushes Tax Package with Potential Section 174 Fix, but Uncertainty Remains
A possible fix, but far from a done deal On June 13th, the House Ways and Means Committee advanced a legislative package that could set the stage for a year-end tax bill. The legislation contains a number of tax items, including a deferral of the Section 174 capitalization requirement for research and experimental (R&E) expenditures […]
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Uncertainty in the new world of section 174 capitalization
Check out our latest update on research expense capitalization under Internal Revenue Code section 174. Topics include the legislative state of play, confusion over the technical application of section 174, and whether companies should extend their 2022 tax returns. https://www.claconnect.com/en/resources/articles/2023/section-174-capitalization-uncertainty-answers-to-top-faqs
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IRS Issues §174 Capitalization Guidance
On December 12, the IRS issued Revenue Procedure 2023-8 setting forth guidance for taxpayers making accounting method changes under the new §174 capitalization rules that went into effect on January 1, 2022. The guidance comes at a time when taxpayers and practitioners are still hopeful that the capitalization requirement will be deferred or eliminated by Congress and […]
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Weighing Options for Near-Shoring: Four Models for Manufacturing in Mexico
The path to manufacturing in Mexico depends on your needs, and there are several models to consider.