10.27.22
Providing Fringe Benefits to Employees With No Tax Strings Attached
Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have to pay tax…
10.25.22
Five Tips for Reducing Workers’ Compensation Costs
For most manufacturing businesses, workers’ compensation insurance is a significant expense. Here are five tips for better controlling these costs: 1. Make sure employees are…
10.25.22
On The Road Again: It’s Time for Manufacturers to Review Business Travel Expense Deduction Rules
Business travel has been picking up again this year. If your manufacturing company has recently resumed travel to visit key customers and suppliers — or…
10.25.22
Weighing the Pluses and Minuses of ESOPs
Corporate finance, employee benefits and succession planning likely are key issues you have to contend with as an owner of a manufacturing company. Did you…
10.25.22
Planning for Major Research or Experimental Expenditures Changes Effective in 2022
Research or experimental expenditures, commonly referred to as “research and development” (or R&D) expenses are often significant for manufacturers. Prior to 2022, businesses had the…
10.25.22
Employee Expenses and Reimbursements – Don’t Forfeit the Employer Deduction and Tax-Free Benefit to the Employee
What a “nice” employer. Their employees receive extra funds to cover expenses such as gas, phone, supplies, meals, etc. These are considered business expenses, right?…
10.24.22
Five Change-Order Pitfalls Construction Companies Should Avoid
Properly documented and handled change orders can mean more profitable jobs for construction companies. When the process doesn’t go smoothly, however, you risk not getting…
10.24.22
Manage Your Construction Business … and Your Wealth
Many contractors prioritize business financial management over personal wealth management. It’s an easy trap to fall into given how competitive the construction industry can be.…
10.24.22
Inflation Reduction Act Expands Deductions for Energy-Efficient Construction
Mitigating the adverse effects of climate change is one of the primary targets of the recently enacted Inflation Reduction Act (IRA). To that end, the…
10.24.22
Research and Development Credits Within the Construction Industry
When taxpayers think of research and development (or R&D), most picture scientists in long white coats mixing liquids in a laboratory. However, the meaning of…