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Partnerships and S Corporations Receive Temporary Reprieve from Foreign Tax Reporting
The IRS rolled out new K-2 and K-3 forms for Partnerships and S Corporations. They recently released guidance for these forms, including relief for most taxpayers for 2021 only.
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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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Making A Family Transition Affordable
There may be affordability issues when a business owner is planning to transition their business to the next generation or to their management team. Quite often the money to buy the business has to come from the business itself. How can this work for a family business?
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How Family Dynamics Can Impact A Business Transition
A family-owned business faces a unique set of challenges, especially when the family is contemplating a transition of that business. There are many tools that CLA can use to help a family navigate their family dynamics, ensuring the business transition is a time of celebration for the entire family.
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Quick Year-End Tax Planning Ideas
While 2021 was filled with a lot of talk of tax reform, 2021 will very likely conclude without any significant tax legislation getting passed and income and capital gains tax rates remaining the same. With our newfound clarity, we share several year-end tax planning ideas for taxpayers to consider in order to reduce their potential tax bills.
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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.