Skip to main content Skip to search

Blog

Older workers should not be dismissed when hiring

When hiring, don’t overlook older workers

Is your business hiring? Many companies are — in fact, an employment report released by the U.S. Department of Labor earlier this month revealed that nonfarm payrolls increased by 390,000 in May, and the unemployment rate held steady at 3.6%….

2022-midyear-tax-strategy-manufacturing

7 midyear tax-reduction strategies for manufacturers

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 each situation is unique, here are seven general tax moves…

A segmented income statement can be a powerful management tool for manufacturers

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 insight into key performance drivers and possible improvement strategies.

Manufacturers: Is your buy-sell agreement up to date?

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 leaves the company. And it creates a market for departing owners’ shares, providing owners and their families with liquidity and ensuring that the business stays in the family or other tight-knit ownership group.

Manufacturers need to act soon to take advantage of 100% first-year bonus depreciation

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 claiming them isn’t always the best decision. However, if your manufacturing company wants to take full advantage of the bonus depreciation, this is the year to do so.

5 ways to control your business insurance costs

Common sense dictates that every company, no matter how small, should carry various forms of business insurance. But that doesn’t mean you should pay unnecessarily high premiums just to retain the coverage you need. Here are five ways to better control your insurance costs without sacrificing the quality of your policies:

The IRS again eases Schedules K-2 and K-3 filing requirements for 2021

The IRS has announced additional relief for pass-through entities required to file Schedules K-2 and K-3 for the 2021 tax year. Certain domestic partnerships and S corporations won’t be required to file the schedules, which are intended to make it easier for partners and shareholders to find information related to “items of international tax relevance” that they need to file their own returns.

Maintaining a healthy cash flow is critical for manufacturers

Managing and improving cash flow can help manufacturers survive tough times and prosper during better times. Every manufacturer is different, so the right cash flow strategies depend on your situation. Let’s take a look at several strategies that might be right for your manufacturing company.

5 ways to upskill your workforce

The continued impact of the COVID-19 pandemic, unprecedented disruptions to the supply chain and a competitive business environment have created a challenging business environment. But manufacturers are facing another major obstacle: the ever-growing skills gap in the workforce. Here’s one possible solution to this.

Transferring Values—Not Just Wealth—to Your Heirs

Many of us have thought about how to best transfer our wealth to our heirs someday. It’s vital to understand the importance of your values when it comes to your wealth and sense of purpose in life. Here’s how to show your kids the connection between the two so they see the “why” behind decisions made with the family money.