Tax Status of an Employee vs. Independent Contractor
For IRS purposes, there are definite differences between an employee and an independent contractor; you should understand how they are classified.
The manufacturing and distribution industries are experiencing revolutionary change. From the growing adoption of cloud-based technology and 3-D printing to digitization strategies to speed the pace of innovation, the next generation of manufacturing is here.
At the same time, manufacturing companies are affected by economic and policy decisions, such as changes under tax reform, increasing tariffs, and the challenge of finding skilled labor. The partner-led manufacturing services team at Lumsden McCormick understands the unique challenges you are facing. Our team of professionals, who concentrate their practice in manufacturing and distribution, understand changing industry trends and challenges, and team members participate in ongoing, specialized training.
Our client experience includes a wide array of manufacturing specialties including food processing, custom fabrication, advanced manufacturing, and large equipment. As a result, we have the expertise to assist you with all aspects of your manufacturing operations, from meetings with lenders to implementing costing systems. We continually seek tax compliance and optimization by evaluating allowable income reporting options and maximizing available credits.
Our manufacturing services include:
Accounting, Audit, and Assurance Services
For more information about our accounting and consulting services for manufacturing businesses, contact Jonathan Roller, Brian Kern, or complete the form below.