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Commercial Businesses Articles

 

Implementing Effective Strategies to Attract and Retain Skilled Employees for Manufacturers

Implementing Effective Strategies to Attract and Retain Skilled Employees for Manufacturers

Posted by John George on May 20, 2025

Manufacturing companies face the challenge of attracting and retaining skilled employees in today's competitive labor market. To stand out, they must build a compelling employer brand that emphasizes career growth opportunities, investment in technology, and a commitment to employee well-being. Strategies such as fostering a positive work culture, establishing clear career paths, highlighting technological innovation, and recognizing employee achievements can significantly enhance job satisfaction and productivity.

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Ensure Compliance When Hiring an Independent Contractor

Ensure Compliance When Hiring an Independent Contractor

Posted by Kyle Januszkiewicz on May 19, 2025

Correctly classifying workers as either employees or independent contractors is crucial to avoid costly consequences such as audits, back taxes, penalties, and lawsuits. Guidance is provided on understanding worker classification, the implications of misclassification, and the cautious use of Form SS-8 to request IRS determinations.

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Utilizing Business Losses for Tax Benefits

Utilizing Business Losses for Tax Benefits

Posted by Megan Morris-Smith on May 13, 2025

The federal tax code offers a strategy to mitigate business downturns by allowing certain losses to reduce taxable income in future years. The Net Operating Loss (NOL) deduction helps businesses average their income and losses over several years, ensuring fair tax payments. Recent changes under the Tax Cuts and Jobs Act (TCJA) have introduced new limits and rules for NOLs, including the elimination of carrybacks and a cap on the deduction at 80% of taxable income.

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Manufacturers: Financial Planning Tools to Manage Uncertainty

Manufacturers: Financial Planning Tools to Manage Uncertainty

Posted by Megan Morris-Smith on May 06, 2025

Manufacturers are facing uncertainty due to factors like shifting tariff policies, supply chain disruptions, fluctuating demand, and rising raw material costs. Rolling forecasts and financial modeling are two financial planning tools that can help manufacturers navigate this instability by providing continuous updates and testing various assumptions.  

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Maximizing Employee Benefits with Educational Assistance Plans

Maximizing Employee Benefits with Educational Assistance Plans

Posted by Angela Miles on April 28, 2025

Section 127 educational assistance plans allow businesses to provide up to $5,250 annually in tax-free educational benefits to employees. These plans cover a wide range of educational expenses, including graduate coursework, and can help attract and retain talented employees.

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Webinar Summary: Boosting Cash Flow - Maximizing Federal R&D Tax Credits for Manufacturers

Webinar Summary: Boosting Cash Flow - Maximizing Federal R&D Tax Credits for Manufacturers

Posted by Kristin Re’ on April 25, 2025

This presentation by Lumsden McCormick, Boosting Cash Flow: Maximizing Federal R&D Tax Credits for Manufacturers, covered key benefits of a federal R&D tax credit, the qualified activities and expenses for federal R&D tax credits, and much more.

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Safeguard Your Manufacturer with Group Captive Insurance

Safeguard Your Manufacturer with Group Captive Insurance

Posted by Jonathan Roller on April 22, 2025

Group captive insurance is a strategic alternative to traditional insurance models, allowing manufacturing companies to pool their risks and stabilize costs. It offers significant benefits such as cost savings, customization, control over claims, and tax advantages, making it an attractive option for companies with strong risk management practices.

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Reshoring Manufacturing Operations

Reshoring Manufacturing Operations

Posted by John George on April 08, 2025

Reshoring involves bringing manufacturing operations back to the United States from abroad, driven by factors such as President Trump's tariff plans, federal and state tax incentives, and the need for supply chain stability. Manufacturers must carefully assess location selection, skilled labor availability, and equipment decisions to ensure the success of reshoring efforts.

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Navigating Tax Regulations for Real Estate Professionals

Navigating Tax Regulations for Real Estate Professionals

Posted by Michē Needham on March 31, 2025

Understanding whether you qualify as a tax-favored real estate professional can significantly impact your ability to deduct rental losses. Here we explain the general rules, exceptions, and criteria that define this status, including the eligibility criteria and material participation tests. We also highlight other exceptions for non-professionals and emphasizes the importance of utilizing available tax breaks to maximize deductions and minimize tax liability.

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Recognize the Warning Signs of Vendor Fraud

Recognize the Warning Signs of Vendor Fraud

Posted by Brian Stevens on March 25, 2025

Vendor fraud poses a significant risk to manufacturing companies, impacting their profitability and product quality. Recognizing the warning signs and implementing strict controls can help companies protect themselves from deceptive practices and maintain the integrity of their operations.

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