Manufacturing/Distribution Articles
Finding Relief: Tax Strategies to Generate Immediate Cash Flow
Posted by Kerry Roets on October 22, 2020
During these challenging times, companies must have access to cash to help offset unforeseen costs, whether for buying personal protective equipment (PPE) for on-site employees or investing in the technology needed to keep a remote workforce safely and efficiently connected.
Potential New York City UBT Savings As A Result Of Remote Working During Pandemic
Posted by Mark Stack on October 20, 2020
Having employees work remotely from homes outside New York City (NYC) as a result of the coronavirus pandemic may result in a reduction of the Business Allocation Percentage (BAP) for a partnership or limited liability company (LLC) for purposes of the NYC Unincorporated Business Tax (UBT), which translates to a lower UBT liability for the partnership or LLC.
Manufacturing Monthly News Around the Industry
Posted by Jonathan Roller on October 15, 2020
Take a look at our most recent monthly compilation of recent sourced articles related to the manufacturing industry.
Paycheck Protection Program – Additional Revisions to Loan Forgiveness for Loans of $50,000 or Less
Posted by Megan Morris on October 13, 2020
The Treasury and U.S. Small Business Administration (SBA) recently released a simplified loan forgiveness application for the Paycheck Protection Program (PPP) for small business owners with loans of $50,000 or less.
Travel Expense Per Diem Rates 2020-2021 Issued by the IRS
Posted by Mark Stack on October 08, 2020
During the COVID-19 crisis, business travel has been significantly cut back. So, employees may have gotten out of the habit of documenting travel expenses.
Using Remote Workers? Protect Sensitive Company Data from Exposure
Posted by Christopher Lukowski on October 08, 2020
During the COVID-19 pandemic, many companies have shifted to work-from-home arrangements to protect the safety of their workers. This trend is expected to continue even after the pandemic ends. Unfortunately, the chances of intellectual property theft (or inadvertent loss) are generally greater when employees work at home.
Buy-Sells Help Business Owners Prepare for the Unexpected
Posted by Douglas Sosnowski on October 07, 2020
The COVID-19 crisis has brought significant uncertainty. A buy-sell agreement can steady a company in uncertain times, and valuation considerations play an integral role in effective agreements.
Take Aim at Tax Credit for Hiring Target Workers
Posted by Kristin Re’ on October 07, 2020
Manufacturers that laid off workers during the COVID-19 crisis may be restaffing their operations. Others that produce essential goods or implemented pivot strategies may be looking to hire new workers to keep up with demand. If your business is actively recruiting, consider certain “target” groups that could qualify for the Work Opportunity Tax Credit.
Offer FSAs to Employees? You May Need to Act Before Year-End
Posted by Kathleen Strobele on October 07, 2020
If you offer employees FSAs, it's important to keep abreast of the latest changes, including those made by the CARES Act.
Are First-Year Depreciation Write-Offs Right for You?
Posted by Megan Morris on September 23, 2020
Beware: It doesn't always make sense to claim 100% bonus depreciation and/or Section 179 deductions in the first year that qualifying business property is placed in service. Instead, there may be valid reasons to depreciate those assets over several years.