It’s been years since the Tax Cuts and Jobs Act (TCJA) of 2017 was signed into law, but it’s still having an impact. Several provisions in the law have expired or will expire in the next few…
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 prime candidates…
It’s certainly not news to you: There is a severe labor shortage in the manufacturing sector. In fact, according to the National Association of Manufacturers, nearly 2.1 million manufacturing jobs could be open by 2030. One way…
If you’re seeking opportunities to improve your company’s cash flow, consider a fixed asset or cost segregation study. Manufacturing is a capital-intensive industry, so it’s critical to ensure that fixed assets are classified properly to recover their…
Three key tax provisions you should know for 2023 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…
As a manufacturer, you might be looking to maximize your tax benefits as the end of the year approaches. One proven method is to maximize tax breaks relating to depreciation. In some cases, your company may realize…
Inflation. Labor shortages. Supply chain delays. Manufacturers have had a lot on their plates in the past couple of years. Across the board, the result has been increasing prices. But raising prices without factoring in market-based considerations might not…
Business travel has been picking up again this year. If your manufacturing company has recently resumed travel to visit key customers and suppliers — or is planning to soon — it’s a good time to review the…
If you’re contemplating selling your manufacturing business, be sure you understand the tax implications. Business structure (as well as the transaction) can impact your tax bill and, therefore, your net proceeds from the sale. Here are some issues to consider.…
The Creating Helpful Incentives to Produce Semiconductors for America Act (CHIPS Act) was recently passed by Congress as part of the CHIPS and Science Act of 2022. President Biden is expected to sign it into law shortly.…
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 new or…
Manufacturers operating in more than one state may be subject to taxation in multiple states. But with proper planning, you can potentially lower your company’s tax liability. What Is Nexus? The first question manufacturers should ask when…
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