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04.28.15
Using an IC-DISC to Lower Taxes
Manufacturers and distributors who export products should consider the use of an interest charge domestic international sales corporation (IC-DISC) to reduce their tax burden. This blog answers some frequently asked questions about this strategy.
03.26.15
Uncle Sam Wants You to Invest in Technology and Training
The White House recently announced a series of executive actions for subsidies totaling roughly $550 million for investments in advanced manufacturing. These actions provide financial incentives for your company to increase spending on technology and training, if it is not already part of your 2015 budget. This blog discusses the three pillars of support that underlie the president’s manufacturing initiatives.
02.16.15
Wage Increases: Look Before You Leap
A recent Gallup poll shows that roughly three-quarters of Americans support a minimum wage increase. Factories and warehouses tend to employ a large number of entry-level and low-wage workers. If you are considering a wage increase for your hourly workers, this blog offers some important questions to factor into your decision.
01.20.15
“Made in the USA” Makes a Comeback
The trend of outsourcing to overseas suppliers and contractors may be losing some of its luster. Many businesses are returning to U.S. manufacturers to obtain goods faster and at lower costs than foreign suppliers can offer. This blog discusses the benefits that domestic manufacturers offer and how manufacturers can comply with FTC requirements in order to claim a product is “Made in the USA.”
01.07.15
Workplace Violence: Proactive Efforts Foster Safe, Productive Work Environments
No one thinks their factory or warehouse will be the setting for work-related violence. Workplace shootings by disgruntled employees are continually in the news, especially if they result in a fatality. This violence, while serious, is relatively infrequent. This blog looks at the different types of workplace violence and steps that companies can take to minimize the opportunities for violence to occur.
11.12.14
Demystifying LTL Freight Classification
The National Motor Freight Classification® (NMFC®) system can be overwhelming. However, manufacturers that understand how carriers classify freight can find creative ways to lower their costs for less-than-truckload (LTL) shipments. This blog describes the factors that affect freight rates and offers ways to qualify for lower, less expensive freight classes.
10.14.14
Leading Lean Means Walking the Walk
The road to excellence in lean manufacturing can be never-ending, but excelling in lean leadership can make it less bumpy. Implementing lean principles can improve quality, timeliness, capacity, customer satisfaction and overall profits to the company. This blog explores the value and importance of lean leadership.
09.09.14
Do Not Let Overhead Accounts Get Ripe for the Picking
Overhead costs are a part of every business and accounting for them can be problematic. For manufacturers, overhead costing is particularly complex. Accounts tend to be large, and non-accounting managers do not always understand how they work. As a result, these overhead accounts can be open invitations to fraud. This blog details how internal controls can help ensure funds remain in overhead accounts.
08.14.14
Is an Online Freight Marketplace Right for You?
A new generation of online businesses wants to cut the transportation middleman out of the warehousing and distribution equation. These new online marketplaces offer manufacturers and distributors greater convenience and efficiency by directly matching them with freight carriers, cutting down on red tape and lag time. This blog discusses how these online marketplaces work and how to avoid potential pitfalls.
07.14.14
Proactive Estate Planning Starts Today
It is common for manufacturers and distributors to be family-owned. Unfortunately, it is also common for owners to let estate planning fall by the wayside. This can cause the owners and their family members to lose out on valuable tax-saving opportunities. This article discusses strategies that may be useful when transferring wealth and management responsibilities to the next generation.