Manufacturing Archives - Page 2 of 6 - HW&Co. CPAs and Advisors

How Manufacturers Can Factor Depreciation Tax Breaks Into Their 2024 Asset Purchase Planning

By: Cheryl Lanese

When manufacturers purchase equipment and other tangible property, they can take advantage of various tax incentives, such as Section 179 expensing and first-year bonus depreciation. Bonus depreciation has been decreased […]

Manufacturers: Don’t Turn a Blind Eye to Occupational Fraud

By: Tony LaNasa

Occupational fraud, or employee fraud, is a serious issue for all firms. According to the Association of Certified Fraud Examiners (ACFE), firms lose 5% of their revenue to fraud each […]

Labor Shortages: How Manufacturers Can Attract and Retain Qualified Workers

By: Daniel Kaminski

The CFO Survey, a collaboration between Duke University’s Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta, monitors CFO optimism and key concerns. According to the […]

Manufacturers: Pay Attention to These 6 Tax-Related Items in 2024

By: Cheryl Lanese

What are the tax implications for manufacturers as 2024 begins? While some sections of the Tax Cuts and Jobs Act (TCJA) begin to expire, other tax laws, such as the […]

Reining in Waste Can Positively Affect Manufacturers’ Profitability

By: Daniel Kaminski

The most profitable manufacturers make as many products with as few resources as possible. So strategic cost savings is important. One way for manufacturers to save is to rein in […]

Manufacturing Company Owners’ Compensation: What’s Considered Reasonable?

By: Daniel Kaminski

It’s not uncommon at year end for manufacturing company owners to review the year’s performance and consider whether they’ve been fairly compensated for their efforts. Indeed, if the business has […]

Year-End Tax Planning for Manufacturers: Combine the Sec. 179 Expensing Election With First-Year Bonus Depreciation

By: Cheryl Lanese

Implementing year-end tax planning strategies now can help reduce your manufacturing company’s 2023 tax bill. Indeed, a lower tax bill can improve your cash flow and your bottom line. One […]

Review Your Manufacturing Company’s R&E Expenditures

By: Cheryl Lanese

Recent changes to the tax treatment of research and experimental (R&E) expenses may affect the tax bills of many manufacturers. Amendments made to the Tax Cuts and Jobs Act (TCJA) enacted impactful changes that […]

Are You Prepared to Join the Manufacturing 4.0 Revolution?

By: Daniel Kaminski

Manufacturing 4.0, sometimes called “Industry 4.0,” refers to the digitalization of manufacturing. That means the integration of traditional manufacturing processes and practices with cutting-edge “smart” technology. How might Manufacturing 4.0 […]

Rolling Forecasts Can Provide Clarity for Manufacturers

By: Daniel Kaminski

Supply chain interruptions have demonstrated the flaws in conventional budgeting and forecasting methods. Manufacturers find it challenging to forecast their performance for the next year even under the best of […]

Manufacturers: If You Qualify, Be Sure You’re Taking Maximum Advantage of the Section 199A Deduction

By: Cheryl Lanese

Manufacturing company owners who value personal asset protection from creditors typically operate their businesses as C corporations. However, in recent years, some owners have switched their companies’ form of business […]

Manufacturers: Make the Most of the General Business Credit

By: Daniel Kaminski

Generally, tax credits are far more valuable than tax deductions. Unlike a deduction, which reduces a business’s taxable income, a credit reduces its tax liability dollar for dollar. Tax credits […]

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