Manufacturing/Distribution Articles
Why Manufacturers are Looking Forward to Growth
Posted by Jonathan Roller on April 15, 2021
As more Americans get vaccinations and an economic recovery is within sight, manufacturers can bring lessons learned during the pandemic to accelerate growth.
Employees Now Enjoy Even Greater Flexibility with FSAs
Posted by Kathleen Strobele on April 13, 2021
Employees who choose to participate in employer-provided flexible spending accounts (FSAs) can realize several tax benefits. Recent legislation provides participants with an even greater incentive to contribute to these accounts.
Top Five PPP FAQs
Posted by Jenna Torella on April 12, 2021
The Paycheck Protection Program (PPP) loan process has become increasingly complicated as new guidance and enhancements to the program have been announced.
Employee Retention Credit FAQs Released For 2020 Claims
Posted by Megan Morris on April 12, 2021
Under the 2020 ERC rules, 50% of qualified wages and healthcare expenses (up to $10,000 of wages per employee in 2020) are fully refundable if paid by businesses that experienced a full or partial suspension of their operations or a significant decline in gross receipts.
R&D Tax Credits for the Manufacturing Industry
Posted by Kristin Re’ on April 08, 2021
The manufacturing industry alone claims annual R&D tax credits in excess of $7.4 billion.
NY Budget Deal Includes Pass-Through Entity SALT Cap Workaround
Posted by Mark Stack on April 07, 2021
An outcome of the 2022 FY New York State budget, passed on April 7, 2021, includes a circumvention of the federal limit on State and Local Tax (SALT) deductions.
Tax Increases and SALT Relief Come Out of New York Budget Finalization
Posted by Cory Van Deusen V on April 07, 2021
In the early morning hours of Tuesday, April 7, 20201, New York state leaders agreed on a $212 billion budget that includes increased tax rates for both large businesses and the wealthy in New York State.
Biden Administration Unveils Tax Blueprint as Part Of American Jobs Plan
Posted by Mark Janulewicz on April 07, 2021
The Biden administration on March 31, 2021, unveiled a jobs and infrastructure plan, the American Jobs Plan, to address the nation’s pressing infrastructure needs. The plan calls for about $2 trillion in spending over eight years.
PPP Application Deadline Extended in New Law
Posted by Mark Janulewicz on April 05, 2021
President Biden has signed legislation to extend the application period of the popular Paycheck Protection Program (PPP). This followed a bipartisan 92-7 vote in the U.S. Senate to pass the Paycheck Protection Program Extension Act.
Tax Breaks for Green Manufacturers Are Expanded
Posted by Kristin Re’ on April 05, 2021
Manufacturers that decide to “go green” may qualify for lucrative tax breaks. Several incentives were recently extended and improved by the Consolidated Appropriations Act.