03.30.23

How Rolling Forecasts Can Provide More Clarity
Joyce Carlson

Some of the greatest economic concerns brought on by the pandemic have been financial instabilities and volatility.  These pressing issues have forced a stark lesson in pre-planning and have put the spotlight on the weaknesses of traditional budgeting and forecasting methods. In this new unstable environment, annual budgets quickly become cumbersome to prepare. Sudden economic […]

01.19.23

It Is Time to Analyze Your Research Expenditures
Thomas Pierce

Recent changes to the tax treatment of research expenditures are having a big impact on many manufacturers’ tax bills. The most significant change took effect in 2022 pursuant to the Tax Cuts and Jobs Act (TCJA). It requires businesses to capitalize research and experimental (R&E) expenditures under IRC Section 174 and amortize them over five […]

11.23.22

Is Your Business Getting the Credits It Deserves?
Seamus M. Donoghue

It is a challenging time to grow a business. So, any help you can get in the form of tax credits, tax exemptions, grants, low-cost financing and other incentives can make a big difference. Unfortunately, these incentives often go unclaimed. Why? In most cases, businesses have to ask for them — either by claiming benefits […]

10.03.22

Get Ready for the New Lease Accounting Standard
Kenneth Tornheim

After several postponements, the updated lease accounting standard Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) is in effect for private companies. Late last year, the Financial Accounting Standards Board (FASB) voted unanimously against another delay. That means companies that follow U.S. Generally Accepted Accounting Principles (GAAP) must adopt the new standard for fiscal years beginning […]

08.30.22

Insourcing, Outsourcing, and Co-Sourcing: Which Is Right for You?
Joel A. Herman

Conventional wisdom often holds that it is most efficient to keep all roles in-house, but this is not always the case. Rising labor costs, increased costs to meet advancing technology needs or equipment improvements, internal quality control issues and a number of other factors could dictate certain operations to be handled more effectively and efficiently […]

07.12.22

Six Tips for Dealing With Rising Material Prices
Thomas Pierce

Manufacturers face enormous business challenges today. According to the fourth quarter 2021 Manufacturers’ Outlook Survey conducted by the National Association of Manufacturers (NAM), the top two are rising raw material costs and supply chain challenges. Other significant challenges that may affect the availability of materials include rising transportation and logistics costs, unfavorable business climates and […]

06.14.22

Get Ahead on Cybersecurity — Before It Is Too Late
Mark A. Thomson

Manufacturers cannot afford to put cybersecurity issues on the back burner. Just because manufacturers may not sell directly to consumers, it does not mean that they are not at risk. Sometimes manufacturers are impacted when their customers or vendors get hit by a cyberattack. And while news media gives play to data breaches that occur […]

05.24.22

Using AR To Enhance Manufacturing Processes
Joyce Carlson

A new innovative technology, introduced recently in the last five to six years, is taking its place in manufacturing with a higher than expected acceptance. Known as Augmented Reality (AR), this phenomenon has emerged with the potential to transform the manufacturing industry. Unlike virtual reality, AR overlays digital imagery onto physical surroundings, typically through the […]

03.14.22

Boost Cash Flow With a Fixed Asset or Cost Segregation Study
Brandon W. Vahl

If you are seeking opportunities to improve your company’s cash flow, consider a fixed asset or cost segregation study. Manufacturing is a capital-intensive industry, so it is critical to ensure that fixed assets are classified properly to recover their costs as quickly as possible. Fixed asset study A fixed asset study examines all depreciable assets […]

02.16.22

The Price Is Right: Implementing the Right Pricing Strategy
Thomas Pierce

COVID-19. Inflation. Labor shortages. Supply chain delays. Manufacturers have had a lot on their plates the past couple of years. Across the board, the result has been increasing prices. But simply increasing prices without factoring market-based considerations into your pricing strategies might not be enough. Related Read: Manufacturing Evolving from COVID-19 What is production-based pricing? Direct […]