Connections for Success

 

Manufacturing and Distribution

06.11.21

Are You Ready for Industry 4.0?
Joyce Carlson

Industry 4.0 — sometimes referred to as the fourth industrial revolution — is not new. The term was first coined nearly ten years ago. Ironically, the supply chain upheaval and explosion of remote work caused by the COVID-19 pandemic has played a part in shaping industry transformation. Here is a brief introduction to the concept […]

05.11.21

Remote Auditing: Is It Here to Stay?
Harry Fox

The COVID-19 pandemic has had a big impact on the way companies conduct business and audit firms are no exception. Restrictions on the ability of auditors to physically visit business premises have, in many cases, forced them to adopt remote auditing techniques. Remote auditing is not new. For years, auditors have taken advantage of technology […]

04.27.21

Businesses Provided a Lifeline: CAA Enhances PPP Loans and Extends Employee Retention Credit
Joel A. Herman

The Consolidated Appropriations Act (CAA), that was passed late last year, provides the much-needed stimulus and tax relief for businesses hit hard by the COVID-19 pandemic. Two of the provisions that business owners are most likely interested in are the $284 billion in funding for forgivable loans through the Paycheck Protection Program (PPP), for both […]

03.16.21

Why a Cost Segregation Study is a Good Idea — Accelerate Depreciation Deductions to Reduce Taxes and Boost Cash Flow
Mark A. Thomson

The COVID-19 pandemic has resulted in many companies conserving cash and not buying much equipment during the past year. An unintended downside is that you may not be able to claim the same amount of depreciation tax deductions as you have in past years. What can you do? A cost segregation study may allow you […]

02.12.21

Manufacturing Evolving from COVID-19
Joyce Carlson

As we begin to see some light at the end of the COVID-19 tunnel, many manufacturers are turning their attention to the future. While the pandemic’s effects on manufacturing will be temporary in many aspects, there is a strong possibility of long-lasting changes taking effect in the near future. In this blog, we will dive […]

01.12.21

Coronavirus Aid, Relief, and Economic Security Act: Manufacturing Impacts
Brandon W. Vahl

On March 27, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (also known as the CARES Act), a $2 trillion stimulus package intended to help mitigate the economic devastation caused by the novel coronavirus (COVID-19). The stimulus is good news for manufacturers, many of whom are struggling given the current economic circumstances […]

12.14.20

Remote Work May Be Here to Stay — Are You Ready?
Harry Fox

The COVID-19 pandemic has forced many companies to shift gears and focus on ways to conduct business remotely. Many experts believe that the trend toward remote work will continue even after the pandemic is over. Unlike other businesses, manufacturers must continue to rely on workers on the shop floor, such as machinists, assemblers and repair […]

11.30.20

Keep it Simple! “Small” Manufacturers May Opt to Use Simplified Reporting Methods
Joel A. Herman

The Tax Cuts and Jobs Act (TCJA) expanded the tax code’s definition of “small business” to include those with average annual gross receipts of $25 million or less (adjusted for inflation) for the three preceding tax years. Both the 2020 and 2021 inflation-adjusted threshold is $26 million. Manufacturers that qualify as small businesses may be […]

10.08.20

Creating a Business Plan in Uncertain Times
Brandon W. Vahl

With the economy in a state of flux because of the COVID-19 pandemic, many manufacturers may need additional financial assistance. A business plan that accurately reflects your business is something every company — manufacturing or not — should have. Now is the time to create or update your business plan to provide company growth expectations […]

09.22.20

Is Remote Selling the New Normal? Tips to Make the Most of Your Sales Program
Joyce Carlson

The COVID-19 pandemic impacted the way people interact and do business. Many of the changes that have been made to adapt to a social-distancing environment within the digital landscape will likely become permanent and evolve over time. Though pre-COVID-19 digital trends were already surfacing as a basis for contemporary selling, many experts agree that the […]

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