Top 5 Tax Planning Tips for Manufacturers in 2024
The end of the Tax Cuts and Jobs Act (TCJA) and the introduction of the Inflation Reduction Act…
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Our blog is an extension of the advice you receive every time you speak with one of our advisors. From industry and advisory trends to useful tax and audit resources and Anders news, you'll gain insights into what we do, who we are and how we can help.
37 Results Found
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October 17, 2023
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November 29, 2022
Assisted Missouri Manufacturer in Securing $3.5 Million in Tax Incentives
Due to our familiarity with the Missouri Works program and the Chapter 100 Bond process, we assisted a…
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August 31, 2022
Utilized the New Tangible Property Regulations to Create Additional Tax Deductions
After examining the fixed asset schedule of a manufacturing client, we were able to implement the new tangible…
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August 3, 2022
Increased Cash Flow and Net Present Value through Cost Segregation Study
Performed a Cost Segregation study for a manufacturing facility that produces metal parts for the aerospace industry. By…
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July 12, 2022
Turned Research & Development Expenses into $30,000 in Federal Tax Credits
We recommended a manufacturing client consider a research credit study to determine if federal credits could be taken…
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June 28, 2022
Saved Manufacturer Over $350,000 Through R&D Study
Our manufacturing client had utilized the Research & Experimentation (R&D) tax credit in the past, but our team…
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June 14, 2022
Manufacturing Industry Outlook Survey Offers Benchmarking Data and Insights
To fill a void of relevant benchmarking data in the manufacturing industry, Anders and our accounting association, LEA…
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June 3, 2022
Procured Over $3 Million in Economic Incentives for Facility Expansion
A St. Peter’s based manufacturer had a facility expansion that called for the creation of 125 additional jobs,…
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June 1, 2022
Identified $60,000 in R&D Tax Credits for Manufacturer of Custom Tools and Dies
An R&D Tax Credit study was performed for a client specializing in rapid turnaround and high volume engineering…
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May 30, 2022
Improved Management Processes at Manufacturer
At the conclusion of our initial audit, we submitted recommendations for improvement to management. Over the following three…
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May 15, 2022
Implemented an IC-DISC for the Export Sales of a Manufacturer
After being engaged to work with a local manufacturer on their S Corporation tax return, we recognized large…
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May 3, 2022
Saved Manufacturer $19,000 with R&D Tax Credits
Performed an R&D Tax Credit study for a manufacturer of optical targeting products for metrology support systems. We…
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October 5, 2021
Building a More Valuable Business: Why Manufacturers Should Invest in the Four Types of Intellectual Capital
We often ask manufacturers and distributors, “What is the most important part of your business capital?” Top of…
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August 31, 2021
Supply Chain Lessons Learned from COVID-19: Better Inventory Management for Manufacturers
The pandemic changed the way we do business, especially for manufacturers. From overnight supply and demand changes to…
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August 17, 2021
Buying vs. Leasing Considerations for Manufacturing Equipment
Whether you are an established manufacturer or just starting out in the industry, the decision to buy or…
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July 13, 2021
How Manufacturers Can Save on Sales/Use Tax for Government Contracts
Manufacturing companies that sell equipment to the federal government or government contractors could be eligible for a tremendous…
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September 10, 2020
5 Ways Manufacturers Can Increase Cash Flow to Offset COVID-19
With months of state and local business capacity limits and social distance measures implemented during COVID-19, many stores…
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November 6, 2018
How the New Revenue Recognition Standard Will Impact Manufacturers
The new revenue recognition standard includes important provisions that manufacturers need to be aware of. Effective 1/1/2019 for…
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October 30, 2018
Fiscal-year Corporations Subject to Blended Tax Rates Following Tax Reform
The new 21% corporate tax rate allows C corporations to pay federal taxes at a significantly lower tax…
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October 3, 2018
Tax Reform for Manufacturers: UNICAP Exemption Changes
More manufacturers may be exempt from the Uniform Capitalization (UNICAP) rules following tax reform. The UNICAP rules from…
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October 1, 2018
Anders and LEA Launch National Benchmarking Survey for Manufacturers
To fill a void of relevant benchmarking data, Anders and our accounting association, the Leading Edge Alliance (LEA),…
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September 11, 2018
Tax Reform for Businesses: Tax Rates and AMT for C-Corporations
There has been a lot of buzz about tax reform changes and how they will affect companies in…
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August 21, 2018
Tax Reform for Businesses: Qualified Business Income Deduction
The new Qualified Business Income (QBI) deduction is an area of tax reform that may affect how some…
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May 22, 2018
Tax Reform for Manufacturers: Medical Device Excise Tax
Medical device manufacturers are once again safe from an industry-wide tax on medical devices manufactured or imported. While…
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March 26, 2018
Tax Cuts and Jobs Act Provisions Impacting Businesses
The House and Senate have voted and passed tax reform legislation, and President Trump has signed into law.…
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February 27, 2018
How Manufacturers Can Detect and Prevent Fraud Using Inventory Internal Controls
Without strong internal controls, organizations are much more susceptible to fraud. This is especially true for manufacturers, who…
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December 28, 2017
Tax Reform: Elimination of 2% Floor Itemized Deductions
Historically, taxpayers have been afforded the opportunity to include various expenses, in excess of 2 percent of their…
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September 26, 2017
How U.S. Manufacturers Can Benefit from Foreign-Trade Zones
Foreign-Trade Zones (FTZ) are geographical areas where goods can be landed, handled, manufactured and re-exported without the U.S.…
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June 20, 2017
How to Become DCAA and FAR Compliant with Government Contracts
Landing the first governmental contract is a huge success for a company, but the compliance requirements are rigorous.…
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May 24, 2016
Valuing Your Manufacturing Business
There are several reasons why a manufacturing business may need to be valued, such as divorce, estate or…
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February 18, 2016
When to Review Your UNICAP Calculations
Everyone is working on their year-end accounting. As accounts are being reconciled and inventory is taken, have you…
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January 27, 2016
Benefits of an IC-DISC
IRS offers large tax incentives for manufacturers who export their product internationally. An Interest-Charge Domestic International Sales Corporation…
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June 8, 2015
Reviewing Bonus Plans to Ensure Appropriate Yearly Deductions Should be a Best Practice for Employers
Most taxpayers accrue bonuses at the end of the year and take a tax deduction as long as…
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December 16, 2014
Mitigate Your Risk by Segregating Key Duties
Segregation of Duties is imperative for any business – no individual should have so much access to enable…
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May 6, 2014
Missouri Lawmakers Override Veto, Enact Tax Cut
From ABC News Jefferson City, MO May 6, 2014 (AP) By: David A. Lieb Association Press Missouri’s Republican-led…
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October 15, 2013
Missouri Department of Revenue Issues Guidance on New Apportionment Method
Missouri taxpayers with business activity in multiple states now have guidance for the new optional Single Sales Factor…
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