Connections for Success

 

Manufacturing and Distribution

07.19.19

Why Wait to Deduct Your Purchases? Turbocharge Tax Deductions With Bonus Depreciation and Sec. 179
Seamus M. Donoghue

“Don’t put off until tomorrow what you can do today,” Benjamin Franklin once advised. This timeless wisdom applies in many business scenarios, from taking advantage of growth opportunities to claiming tax deductions. In general, business owners should jump on tax-saving opportunities as soon as possible due to the time value of money. Two especially lucrative […]

06.06.19

Quality of Earnings Reports Look Beyond the Numbers
Joel A. Herman

In mergers and acquisitions, potential buyers as part of their due diligence may obtain a quality of earnings (QOE) report to evaluate the validity and sustainability of the seller’s reported earnings. It is also not uncommon for companies contemplating a sale to obtain their own QOE reports to spot potential problems that might derail a […]

05.21.19

Four Signs of an Unreliable Budget
Kenneth Tornheim

Every business should prepare an annual budget, but it is especially important in the capital-intensive manufacturing sector. Comprehensive, realistic budgets allow you to identify potential shortages of cash, production capacity constraints and other threats. They also can help you develop a strategic plan that takes advantage of opportunities to improve performance. Here are four signs […]

04.05.19

Family and Medical Leave: Will Your Program Qualify for a Federal Tax Break?
Adam Guldan

The Tax Cuts and Jobs Act introduces a tax credit for certain employers that provide family and medical leave programs. There are rules and requirements that must be satisfied to take advantage.

02.07.19

FASB Expands VIE Exception for Private Companies
Joel A. Herman

Private manufacturers often set up separate legal entities to hold real estate or operate new but separate business ventures. Under current accounting rules, these entities are typically considered variable interest entities that must be consolidated on to the controlling entity’s financial statements under current GAAP.

01.14.19

Critical Questions to Ask About Internal Controls
Kenneth Tornheim

When fraud strikes manufacturers, the effects can be devastating. The median fraud loss in the manufacturing sector was $240,000, according to the 2018 Report to the Nations published by the Association of Certified Fraud Examiners. Internal controls are a company’s first line of defense in preventing and detecting fraudulent activity.

12.28.18

Moving Your Business to the Cloud
Mark A. Thomson

Many manufacturers and distributors have already jumped aboard the cloud computing bandwagon, but is it right for your business?

11.28.18

Entity Choice: Is It Time for a Switch?
Joel A. Herman

The Tax Cuts and Jobs Act lowers the federal income tax rate for C corporations to a flat 21%. This fundamental change has caused some manufacturers to ask whether it still makes sense to continue to operate as a pass-through entity.

10.18.18

Deducting Travel and Entertainment Expenses with Confidence
Brandon W. Vahl

When owners, managers and salespeople attend trade shows, call on customers and evaluate suppliers, they may incur travel and entertainment expenses. Here are the rules for deducting these costs, including how they have changed under the Tax Cuts and Jobs Act.

09.28.18

Employee or Independent Contractor? Worker Classification Matters
Seamus M. Donoghue

There’s a fine line between employee and independent contractor. The distinction may take on even greater importance under the new tax law as some employees try to shift ordinary income into business income to be eligible for the new qualified business income deduction. Here’s an overview of this issue and the characteristics that distinguish employees from contractors.

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