For manufacturers, strong cash flow management is essential to maintaining stability and supporting long-term growth in an increasingly competitive and unpredictable market. Rising material costs, supply chain disruptions, labor shortages and fluctuating customer demand can quickly strain working capital and…
Manufacturers facing rising demand are under increasing pressure to expand their production capacity without compromising quality or profitability. Investing in new facilities is one option, albeit a major one. Another potentially more effective option is to maximize your production capacity…
As a business owner, your eyes may tell you that your employees are working hard. But discerning whether their efforts are truly contributing to the bottom line might be a bit hazy. The solution: Track productivity metrics. When calculated correctly…
On July 4th, 2025, the president signed the largest piece of new tax legislation since The Tax Cuts and Jobs Act and the Inflation Reduction Act. Below are just a few of the sweeping changes for businesses and individuals. Unless…
Many business owners take an informal approach to controlling costs, tackling the issue only when it becomes an obvious problem. A better way to handle it is through proactive, systematic cost management. This means segmenting your company into its major…
FOR IMMEDIATE RELEASE LB Carlson and Malloy, Montague, Karnowski, Radosevich, and Co., P.A. Announce Strategic Merger to Enhance Client Services Plymouth, MN— January 1, 2025 — LB Carlson, a leading provider of audit, accounting, tax, and advisory services, is pleased…
Many manufacturer owners may have a ballpark idea of their company’s value. But a professional valuation is essential if you’re considering selling your manufacturing business. You also may need one if you’re applying for a loan, seeking other financing, drafting…
Success in business is often measured in profitability — and that’s hard to argue with. However, liquidity is critical to reaching the point where a company can consistently turn a profit. Even if you pile up sales to the sky, your…
To help ensure continued stability and profitability, businesses need to engage in some form of strategic planning. A recent survey by insurance giant Travelers drives home this point. In its 2024 CFO Study: A Travelers Special Report, the insurer surveyed 610…
Every business needs a budget, but not every budget looks the same. Some companies have intricately detailed ones, others rely on simple templates generated with off-the shelf software, and still others forego formal budgets in favor of a “fly by…
July marks the halfway point of the year and is generally an ideal time for manufacturers to assess their tax situation and plan appropriate strategies for reducing their 2024 tax liability. Bearing in mind that every company’s situation is unique,…
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 overhead Increasing profits doesn’t always mean plant layoffs. Often cuts…
The U.S. Department of Labor’s (DOL’s) test for determining whether a worker should be classified as an independent contractor or an employee for purposes of the federal Fair Labor Standards Act (FLSA) has been revised several times over the past…
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 extra cash on hand, owners may decide to pay themselves a…
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 ownership to one of the pass-through entities, such as an…