02.18.25

A Primer on Energy Tax Incentives: FAQs About the Advanced Manufacturing Production Credit
Seamus M. Donoghue

The Inflation Reduction Act (IRA) includes several provisions related to tax incentives that encourage investment in clean energy production and energy-efficient property. One of these incentives is the advanced manufacturing production credit under Internal Revenue Code (IRC) Section 45X. The IRA extends and expands the Sec. 45X credit, which encourages domestic production of eligible clean […]

01.31.25

Tracking Individual Product Costs to Maximize Profits
Kenneth Tornheim

Tracking product-specific cost information can be challenging, but the benefits can be significant. By tracking the costs and profitability of individual products, you will have an idea of where to make adjustments. Drill down Determining product-specific costs can require significant work. You will need to figure out the direct labor, material and other costs associated […]

12.27.24

Are You Maximizing the QBI Deduction?
Brandon W. Vahl

If your manufacturing company is organized as an S corporation, limited liability company, partnership or sole proprietorship, be sure that you are taking full advantage of the qualified business income (QBI) deduction, also known as the Section 199A deduction. It is important to understand how the deduction works to determine your eligibility and identify opportunities […]

09.30.24

How Cross-Training Creates a More Productive and Flexible Workforce
Harry Fox

Manufacturers continue to struggle to find qualified workers, so any strategies for improving employee retention are welcome. One such strategy is cross-training. Done right, it can enhance productivity, facilitate process and product improvements, improve customer service and increase profitability. Employee benefits Cross-training simply means training employees to perform tasks outside their normal responsibilities. The potential […]

07.29.24

FLSA Compliance: When Does the “Workday” Begin and End?
Brandon W. Vahl

The Fair Labor Standards Act (FLSA) requires employers to pay nonexempt workers a minimum wage per hour plus time and a half for hours worked over 40 per workweek. This seems straightforward, but it hasn’t always been. In Walsh v. East Penn Manufacturing Co., Inc., a manufacturer learned this lesson the hard way. A jury […]

04.19.24

Ways to Save in 2024: Managing Workers’ Compensation and Unemployment Insurance Costs
Seamus M. Donoghue

It is no secret that labor costs are a significant expense for most manufacturers. Two important labor-related costs are your workers’ compensation and unemployment insurance. Let’s take a look at steps you can take to help manage these costs. Workers’ comp costs Most states require employers to maintain workers’ comp insurance. Many manufacturing employees perform […]

03.12.24

Work Opportunity Tax Credit: When Hiring Skilled Labor Is a Win-Win for Employers and Employees
Adam J. Pechin

Like many businesses today, manufacturers are in need of skilled workers. The Work Opportunity Tax Credit (WOTC) can provide some tax relief when you hire employees from “targeted” disadvantaged groups. Calculating the credit The amount of the credit depends on the relevant targeted group and wages paid to the new hire. For example, hiring qualified […]

12.12.23

Eight Strategies For Boosting Your Production Capacity
Kenneth Tornheim

Even with continued economic uncertainty, throughout most of this year the manufacturing industry has flourished, and many manufacturers are straining to keep up with demand. At the same time, the pandemic reminded us how uncertain the economy can be, with many companies hesitant to invest in expanding their operations. Related Read: Six Tips for Dealing […]

11.21.23

Using Reverse Sales and Use Tax Audits to Reveal Refund Opportunities
Joyce Carlson

Tracking various state sales tax laws, changes and credits can be complex and lead to missed opportunities. While most states offer sales and use tax exemptions for certain purchases by manufacturers, the messaging, processes and specifics will vary from state to state. It is easy for Manufacturers to overlook exemptions to which they’re entitled, resulting […]

10.26.23

Manufacturing Across State Lines: What Manufacturers Need to Know About Multistate Income Taxes
Brandon W. Vahl

If your business operates across state lines, it is important to understand state income tax obligations. Following the U.S. Supreme Court’s 2018 decision in South Dakota v. Wayfair, Inc., manufacturers have focused on sales tax liability. However, the recent explosion of remote work, together with revised guidance from the Multistate Tax Commission (MTC), may raise […]