Manufacturing Archives - Page 5 of 6 - HW&Co. CPAs and Advisors

If Your Manufacturing Company Is Considered a “Small Business,” It May Be Eligible for Tax Benefits

By: Cheryl Lanese

Small-sized manufacturers may enjoy several tax advantages that allow them to reduce their tax bills, defer taxes and simplify the reporting process. Federal tax rules used to generally define a […]

Manufacturers: Aim to Hire “Target” Workers This Year to Claim the WOTC

By: Cheryl Lanese

If your manufacturing company is like many others in the industry, you’re having difficulty finding top-notch new hires to expand your workforce as well as to replace employees who are […]

Independent Contractors Vs. Employees: Are Your Manufacturing Workers Properly Classified?

By: Kim Zagar CPA

Manufacturing company owners may mistakenly believe that the misclassification of employees as independent contractors doesn’t really matter, so long as contractors satisfy all of their tax obligations. However, this couldn’t […]

7 Midyear Tax-reduction Strategies for Manufacturers

By: Cheryl Lanese

As the midpoint of the year fast approaches, it’s a good time for manufacturers to assess their tax status and plan appropriate strategies for reducing their 2022 tax liability. Although […]

A Segmented Income Statement Can Be a Powerful Tool for Manufacturers

By: John Krizansky CPA

A companywide income statement may be sufficient for lenders or other outsiders to evaluate your manufacturing company’s financial performance. But from management’s perspective, a segmented income statement can provide valuable […]

S Corporation Vs. LLC: The Way a Manufacturing Company Is Structured Affects Taxes and More

By: Cheryl Lanese

For decades, owners of small to midsize manufacturing companies have opted for the S corporation form of ownership, rather than being subject to the double taxation of C corporations. However, […]

Manufacturers: Is Your Buy-Sell Agreement Up to Date?

By: James Horkey

A buy-sell agreement is a critical tool for owners of closely held manufacturing companies. It ensures an orderly ownership and management transition when an owner dies, becomes disabled or otherwise […]

Manufacturers Need to Act Soon to Take Advantage of 100% First-Year Bonus Depreciation

By: Cheryl Lanese

First-year bonus depreciation typically creates a powerful tax incentive for eligible manufacturers to purchase qualified property needed for business reasons. These tax write-offs can benefit a manufacturer’s cash flow, but […]

Maintaining a Healthy Cash Flow is Critical for Manufacturers

By: John Krizansky CPA

During times of economic distress and uncertainty, cash flow issues can quickly bubble to the surface. Managing and improving cash flow can help manufacturers survive tough times and prosper during […]

5 Ways to Upskill Your Workforce

By: Cheryl Lanese

Last year was another tumultuous one in the manufacturing sector. The continued impact of the COVID-19 pandemic, unprecedented disruptions to the supply chain and a competitive business environment were all […]

Is Remote Selling the “New Normal” for Manufacturers?

By: John Krizansky CPA

The COVID-19 pandemic has had a dramatic impact on the way people interact and do business. And it’s likely that a number of the changes made to adapt to a […]

Why Manufacturers Can’t Afford to Ignore Cybersecurity

By: Michael Shoffner

Manufacturers may have a false sense of calm when it comes to cybersecurity. They might incorrectly assess that their risk of a cyberattack is low because they don’t sell products […]

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