Category: Manufacturing

As the end of the first quarter of the 21st century nears, cloud computing has become an integral part of the modern-day manufacturing environment, growing in leaps and bounds over the last decade. Indeed, the use of this technology has spurred efficiency in manufacturing pr...

When it comes to business structure, manufacturing company owners have a few choices. Among them are an S corporation and a limited liability company (LLC). They’re popular with manufacturers because of their combination of liability protection and tax benefits. Both forms...

The quest for skilled laborers in the manufacturing sector continues. Indeed, more than 600,000 manufacturing-related jobs remained open in December 2023, according to the U.S. Bureau of Labor Statistics. The Manufacturing Institute, an independent industry advocate, recentl...

When manufacturers purchase equipment and other tangible property, various tax breaks are available, including Section 179 expensing and first-year bonus depreciation. For 2024, bonus depreciation has dropped another 20 percentage points in its gradual phaseout under the Tax...

What’s the tax outlook for manufacturers as 2024 begins? While certain provisions of the Tax Cuts and Jobs Act (TCJA) begin to phase out, other tax laws, including the Inflation Reduction Act (IRA) and the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act, ...

Every business owner should have an exit strategy that helps recoup the maximum amount for his or her investment. If you’re considering selling your manufacturing company to a third party, understanding the tax implications can help you plan for and, in some cases, reduce ...

For decades, products that were made in America were synonymous with high quality and were manufactured in great abundance. Comparable products from other countries were often viewed as cheaper knockoffs....

The Inflation Reduction Act (IRA), enacted in late 2022, provides valuable tax credits that support clean energy manufacturing. Significantly, the law created the Advanced Manufacturing Production Tax Credit (45X MPTC), which is an incentive for producing clean energy compon...

Manufacturing is essential to Minnesota and the country and many manufacturing businesses will be exempt from Minnesota new law that goes into effect March 27, 2020....

The coronavirus has disrupted the manufacturing business. Here are six things that you can do. Number one - remind your team how important they are to you and your manufacturing team. Number two - spend time nurturing your client relationships....

At many companies, a wide gap exists between the budgeting process and risk management. Failing to consider major threats could leave you vulnerable to high-impact hits to your budget if one or more of these dangers materialize. Here are some common types of risks to researc...

Cloud computing — storing data and accessing apps via the Internet — has been widely adopted by businesses across industry and size. Like many technological advances, though, new derivatives continue to emerge — including so-called multicloud computing. ...