Commercial Businesses Articles
Updates to Secure Act 2.0 Signed December 29, 2022
Posted by Cheryl A. Jankowski on January 16, 2023
Starting in 2023, the Secure Act offers several changes for businesses including required minimum distribution age.
Expiring Tax Laws That Impact Manufacturers
Posted by Kristin Re’ on January 09, 2023
Certain tax provisions that impact manufacturers have expired barring further legislation. What are they and how do they impact your operations.
Tax Consequences of Renting to a Family Member
Posted by John Anderson on January 06, 2023
Be aware of the rental tax rules when renting to a family member, special rules apply.
Minimize the Last In First Out (LIFO) Inventory Recapture Tax
Posted by Douglas Muth on January 06, 2023
Depending on your entity status, the LIFO recapture tax can have implications for your bottom line.
Manufacturers: Five Steps to Recession Proof Your Business
Posted by Jonathan Roller on January 04, 2023
Here we explain five simple business strategies to help your manufacturing plant recession proof now for future profits.
Five Strategies for Manufacturers to Improve Employee Performance Reviews
Posted by Jonathan Roller on December 16, 2022
Year-end is typically the time when employee performance evaluations are conducted. Here we discuss types of performance reviews and five strategies to make the reviews meaningful and impact corporate goals.
Setting up your New Business as a C Corporation
Posted by Isabella Newman on December 16, 2022
There are many benefits to structuring a new business venture as a C corporation. See if this entity structure is the most suitable based on tax treatment.
Three Ways to Prepare for Supply Chain Disturbances
Posted by John George on November 28, 2022
Explore these three ways to help prepare for supply chain disturbances and reduce risk in the future.
Manufacturers: Immediate Action to Maximize 2022 Depreciation
Posted by Douglas Muth on November 10, 2022
Manufacturers need to act before the end of the year to claim depreciation related tax breaks and Lumsden McCormick can help.
Eligibility and 2023 Limits for Health Savings Accounts
Posted by John Anderson on November 09, 2022
Health Savings Accounts (HSAs) offer tax benefits for both the employer and individual employee.