Category: Manufacturing

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. ...

Lapping schemes are one of the most common ways crooked employees skim money from their employers. In these schemes, a perpetrator uses receipts from one account to cover theft from another. Here’s what lapping looks like and how you can help prevent it....

Extending credit to business customers can be an effective way to build goodwill and nurture long-term buyers. But if you extend customer credit, it also brings sizable financial risk to your business, as cash flow could grind to a halt if these customers don’t make their ...

The Minnesota Legislature recently passed a tax bill that conforms or partially conforms several Minnesota tax laws to changes made under prior Federal tax bills. Below is a link to a listing provided by the Minnesota Society of CPAs (MNCPA) of the items that now conform or...

Time flies when you’re having fun — and running a business. Although it’s probably too early to start chilling a bottle of bubbly for New Year’s Eve, it’s certainly not too early for business owners to start doing some strategic planning for next year. Here are som...