manufacturing Archives - Page 4 of 5 - HW&Co. CPAs and Advisors

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 […]

Manufacturers: Should You Buy or Lease?

By: Kim Zagar CPA

There are major federal income tax incentives for manufacturers to buy new equipment. Yet leasing equipment can be a better choice for some companies. How do you decide whether to […]

Manufacturers: Don’t Miss Out on an R&D Tax Credit

By: Cheryl Lanese

The credit for increasing research activities, commonly referred to as the research and development (R&D) credit, is one of the biggest and best tax breaks available to manufacturing companies. Unlike […]

Manufacturers: Is It Time for a Cost Segregation Study?

By: John Krizansky CPA

Manufacturers often own the building, or several buildings, where their goods are produced. Normally, it takes almost four decades (39 years) to fully recover the cost of a commercial property […]

Not my plant! Preventing ransomware attacks on manufacturers

By: Cheryl Lanese

The world’s largest meat production company was recently sidelined by a ransomware attack. The hack forced the company to temporarily shutter plants in the United States, Canada, and Australia, affecting […]

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