Manufacturing & Distribution
Showing 1–16 of 216 results
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Remote work may be here to stay — are you ready?
Winter 2021
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 336
Abstract: The COVID-19 pandemic has forced many companies to shift gears and focus on ways to conduct business remotely. And 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 persons. This article provides some possible ways manufacturers can adapt their operations to the new normal.
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Keep it simple! “Small” manufacturers may opt to use simplified reporting methods
Winter 2021
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 547
Abstract: The Tax Cuts and Jobs Act 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. Manufacturers that qualify as small businesses may be eligible for simpler reporting methods that could also defer federal income taxes. This article takes a closer look at the relevant tax rules.
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Now may be the right time to acquire a business
Winter 2021
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 644
Abstract: The COVID-19 pandemic has resulted in financial losses for many businesses, including manufacturers. As a result, some owners may be looking for an exit strategy. In this uncertain market, some investors see opportunity. For those who are able, now can be a good time to acquire a distressed business with an eye to turning a profit. This article provides some guidance on this strategy to help avoid potential pitfalls.
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First-year bonus depreciation and Sec. 179 expensing: Beware the pitfalls
Winter 2021
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 999
Abstract: Many manufacturers are eligible for tax write-offs for certain equipment purchases and building improvements. These write-offs can do wonders for a manufacturer’s cash flow, but whether to claim them isn’t always an easy decision. In some cases, there are advantages to the regular depreciation rules. This article reviews why it’s critical to look at the big picture and develop a strategy that aligns with a company’s overall tax-planning objectives. A short sidebar covers the deductibility of website costs.
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NOL carrybacks: Look at the big picture
Fall 2020
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 355
Abstract: To help manufacturers and other businesses improve their cash flow, the Coronavirus Aid, Relief and Economic Security (CARES) Act provides a temporary five-year carryback for net operating losses (NOLs). Under the act, businesses with NOLs in 2018, 2019 or 2020 may carry those losses back up to five years, offset them against taxable income in those years, and claim a refund. This short article reminds companies to look at their overall tax picture and consider how NOLs interact with two other tax areas: consolidated group considerations and the business interest deduction election.
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Creating a business plan in uncertain times
Fall 2020
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 661
Abstract: 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 a business is something every company — manufacturing or not — should have. This article discusses the importance of, and the steps in creating or updating, a business plan to provide company growth expectations and strategies.
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Is remote selling the new normal? Tips to make the most of your sales program
Fall 2020
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 708
Abstract: The COVID-19 pandemic has had a dramatic impact on the way people interact and do business. And it’s likely that a number of the changes made to adapt to a social-distancing environment will become permanent. Even before this crisis, there was a definite trend toward digital interactions, and many experts believe that our experiences during the pandemic will accelerate this trend. This article reviews some tips to make the most of a remote sales program.
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Diversity in manufacturing offers many benefits
Fall 2020
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 794
Abstract: As the U.S. population becomes more diverse, many manufacturers are adapting their workforces to reflect that diversity. And while diversity for its own sake is a laudable goal, a diverse workforce can also pay off in the form of improved business performance. This article reviews the benefits of a diverse workforce, and some best practices companies can implement. A short sidebar reviews workplace safety in the COVID-19 age.
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Is it time to update your company’s drug use policy?
Summer 2020
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 335
Abstract: Given the safety risks involved with many manufacturing jobs, it’s a good idea for manufacturers to adopt a drug and alcohol policy and enforce it consistently. However, the evolving legal environment — particularly the trend in many states toward legalization of marijuana — greatly complicates the process. This brief article looks at the difference between alcohol and marijuana testing and what to consider when updating your drug policy.
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Highlights of the USMCA for manufacturers
Summer 2020
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 643
Abstract: One of the biggest issues manufacturers have faced in recent years is trade uncertainty. And with the continuing novel coronavirus (COVID-19) pandemic, trade stability is even more sought after. The United States-Mexico-Canada Agreement (USMCA) relieves some uncertainty by updating the North American Free Trade Agreement (NAFTA). The agreement will take effect as soon as each country has taken certain steps to implement it. This article reviews some key changes that will soon affect manufacturers.
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SECURE Act: New tax incentives for employers to offer retirement benefits
Summer 2020
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 808
Abstract: The Setting Every Community Up for Retirement Enhancement (SECURE) Act authorizes a new, cost-effective type of retirement plan: the pooled employer plan (PEP), beginning in 2021. By creating the PEP, the SECURE Act largely eliminates multiple employer plan (MEP) obstacles, extending the benefits of MEPs to more businesses. This article looks at the upsides and pitfalls of MEPs, and why PEPs might be the right fit for many small companies. A short sidebar reviews ways the Coronavirus Aid, Relief, and Economic Security (CARES) Act expands financial options for impacted employees through their employer-sponsored retirement plans.
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COVID-19 crisis – How amending previous years’ tax returns can possibly free up cash
Summer 2020
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 763
Abstract: For many manufacturers, 2020 has been a year like no other due to the novel coronavirus (COVID-19) pandemic, and cash flow is a major issue. The Coronavirus Aid, Relief, and. Economic Security (CARES) Act retroactively modifies certain business-related provisions of the Tax Cuts and Jobs Act (TCJA) in ways that can help provide quick liquidity. This article reviews these changes and what manufacturers need to do to take advantage of them. A sidebar covers how the CARES Act affects real estate qualified improvement property (QIP).
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Work Opportunity Tax Credit extended through 2020
Spring 2020
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 447
Abstract: 2020 may be a good year for hiring, especially after the Further Consolidated Appropriations Act extended the Work Opportunity Tax Credit (WOTC) through 2020. This federal income tax credit is available to businesses that hire members of certain “targeted” groups. This brief article examines how the credit can benefit manufacturing businesses.
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Why manufacturers can’t afford to ignore cybersecurity
Spring 2020
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 549
Abstract: Many manufacturers have a false sense of calm when it comes to cybersecurity. They incorrectly assume their risk of a cyberattack is low because they don’t sell products on the Internet or gather credit card information and other sensitive data from customers. In recent years, hackers looking for the next big score have found that manufacturers are an attractive target. This article looks at why it’s a good idea to conduct a risk assessment to identify vulnerabilities and take steps to shore up defenses.
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Independent contractor vs. employee – Beware: Worker classification is an IRS hot button
Spring 2020
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 638
Abstract: Treating a worker as an independent contractor (IC) rather than an employee can provide a business with important advantages. But simply labeling someone an IC doesn’t make it so. Whether a worker is properly classified as an IC or employee depends on several factors targeting the level of control the employer exerts over the worker. This article discusses the benefits of ICs, the IRS’s preference and the control factors that are considered when determining whether a worker is an IC or an employee.
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Four strategies for closing the skills gap
Spring 2020
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 862
Abstract: As technology continues to advance at a dizzying pace, manufacturers are facing a growing skills gap. The increasing role of automation, robotics, machine learning, artificial intelligence and other innovations is rendering many traditional manufacturing jobs obsolete. At the same time, manufacturers are finding that the skilled workers they need to operate a modern facility are in short supply. The situation is exacerbated by a tight labor market and millions of retiring Baby Boomers. This article examines four strategies for manufacturers who are faced with a skills gap. A brief sidebar discusses the deferral of Accounting Standards Update No. 2016-02, Leases (Topic 842), from 2020 to 2021 for certain companies.