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Black box with the words "Employee Retention Credit" and siluettes of people
8.10.21

IRS Issues ERC Guidance as Congress Mulls Early Termination

The IRS has published new guidance on the Employee Retention Credit (ERC). The credit was created in March 2020 to encourage employers to keep their…

Paper held with binder clips reading "PPP 2021"
8.3.21

SBA Streamlines Forgiveness for Smaller PPP Loans

The Small Business Administration (SBA) has released new guidance intended to expedite the forgiveness process for certain borrowers under the Paycheck Protection Program (PPP). The…

Electronic looking wall with "LLC" and other icons
8.2.21

Is an LLC the Right Choice for Your Small Business?

Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your assets. Or maybe…

Professional Man and Woman sitting at a table reviewing a document
7.29.21

The Deductibility of Corporate Expenses Covered by Officers or Shareholders

Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up being…

Headshot of Charla Roth, Partner at Dannible & McKee
7.28.21

Audit, Review or Compilation: How Are They Different?

In the accounting world, the terminology used to define the level of assurance your manufacturing company has been provided from a CPA firm as it…

Male employee showing automation manufacturing process with smart industry robot arms for digital factory production technology
7.28.21

Independent Contractor vs. Employee – Beware: Worker Classification Is an IRS Hot Button

A business can realize important advantages by treating a worker as an independent contractor (IC) rather than an employee. But simply labeling someone an IC…

Engineering technology and industry 4.0 smart factory concept with icon graphic showing automation system by using robots and automated machinery controlled via internet network .
7.28.21

How to Leverage Digital Transformation in Manufacturing

If there’s one thing that’s always been true of manufacturing, it’s that it marches hand-in-hand with evolving technology. As digital transformation marches forward, you want…

Close up of Business people shaking hands, finishing up meeting, business etiquette, congratulation, merger and acquisition concept
7.27.21

Now May Be the Right Time to Acquire a Business

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.…

Pitfall concept as a vulnerable businessman facing risky business peril deep holes as an uncertainty stress idea with 3D illustration.
7.26.21

First-Year Bonus Depreciation and Sec. 179 Expensing: Manufacturers Beware of the Pitfalls

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…

"Cartoon" looking rocket being drawn by a hand along with doodles to illustrate a process and the words "tax deductions"
7.19.21

Getting a New Business off the Ground: How Start-up Expenses Are Handled on Your Tax Return

  Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new businesses being launched. From June 2020 through June…