Manufacturers: Start Year-End Tax Planning Now
As the year comes to a close, manufacturers have the opportunity to implement year-end tax planning strategies to help reduce their 2024 tax liability. Several provisions of the Tax Cuts […]
Tag: manufacturers
Key Labor Costs Manufacturers Must Keep in Check
Effectively managing workers’ compensation and unemployment insurance expenses is vital for manufacturers to ensure financial stability. Without strategies in place, these key labor costs can quickly erode profits. Cut Workers’ […]
Look Beyond Revenue to Maintain Long-Term Growth for Your Manufacturing Company
Successful manufacturers know that the key to sustainable growth is increasing profits, not just revenue. Let’s take a closer look at some ways you can boost your bottom line. Reduce […]
Can Your Manufacturing Company Benefit From a Cost Segregation Study?
When manufacturers buy, build, or improve their facilities, they make a significant investment. However, these expenses are often not immediately tax deductible. Fortunately, there may be another way to expedite […]
8 Strategies for Boosting Your Manufacturing Production Capacity
Are your manufacturing company’s sales booming in recent years, causing you to operate at full capacity? One solution is to broaden your operational footprint. However, this entails significant capital outlays, […]
Can Your Manufacturing Company Benefit From the Work Opportunity Tax Credit?
The search for skilled workers in the manufacturing industry continues. According to the US Bureau of Labor Statistics, over 600,000 manufacturing-related jobs were available in December 2023. The Manufacturing Institute, an […]
Segmented Income Statements Can Help Enhance Manufacturers’ Profitability
Most manufacturers publish company-wide income statements. But have you explored delving further into your data using a segmented income statement? If properly developed, a segmented version of this report could […]
Labor Shortages: How Manufacturers Can Attract and Retain Qualified Workers
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
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
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?
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
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 […]
