11.14.22
Act Now To Reduce Your Business’s 2022 Tax Bill
It’s been a tumultuous year for many businesses, and the current economic climate promises more uncertainty for the short term, if not longer. Regardless of…
10.27.22
What Do the 2023 Cost-of-Living Adjustment Numbers Mean for You?
The IRS recently issued its 2023 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly this year, many amounts increased considerably over…
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.…