Manufacturing

3 Ways Manufacturers Can Prepare for the Next Supply Chain Disruption

Before the COVID-19 pandemic, many manufacturers’ supply chain management efforts focused on reducing costs and increasing efficiency, in some cases at the expense of flexibility and resiliency. But the pandemic highlighted the vulnerability of global supply chains to disruptions. Such disruptions can be caused not only by public health emergencies, but also natural disasters, political […]

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Manufacturers Must Act Now to Maximize Depreciation-Related Tax Breaks for 2022

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 may realize instant tax gratification by currently deducting the full cost of business property placed in service in 2022 — […]

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To Stay Competitive, Manufacturers Must Implement the Right Market Strategy

Inflation. Labor shortages. Supply chain delays. Manufacturers have had a lot on their plates 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 be enough. What is Production-Based Pricing? Direct production costs are a logical starting point for pricing new and […]

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Inflation Reduction Act Enhances Payroll Tax Break for Small Manufacturers’ Research Expenses

Is your manufacturing company on the cutting edge? It’s important to keep pace with the competition, especially if you’re trying to carve out a niche in a new marketplace. Fortunately, federal tax law allows manufacturers to claim a generous tax credit for qualified research expenses. The credit generally offsets income tax liability on a dollar-for-dollar […]

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On the Road Again: It’s Time for Manufacturers to Review Business Travel Expense Deduction Rules

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 tax rules for deducting domestic business travel expenses. The Basics An employer may deduct an employee’s “ordinary and […]

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