Tax Breaks and Beyond: Strategies for Manufacturers

Tax Breaks and Beyond: Strategies for Manufacturers
MPower Conference IT and Compliance Track
Presentation held as part of the Buffalo Niagara Manufacturing Alliance (BNMA) Annual Conference
Presenter: Kristen M. Re, CPA, Lumsden McCormick
Previously held Tuesday, October 22, 2024

This presentation was an exploration of critical tax breaks and strategies for manufacturers, covering:

• Deductions for R&E Expenditures: Understand the Tax Cuts and Jobs Act (TCJA) impact, shifting from immediate deductions to amortization over five or 15 years, based on the location of the research.

• Research Credit: Learn how to leverage the IRC Sec. 41 research credit to enhance cash flow and extend your financial runway.

• New York State Tax Credits & Incentives: Discover key state-specific benefits, including the Investment Tax Credit, Employment Incentive Credit, Excelsior Jobs Program, and more. 

• Additional Tax Planning Opportunities: Dive into accounting method changes, depreciation, implications of the Inflation Reduction Act, and other valuable tax strategies.

Presentation Handouts:

1. Research and Development (R&D) Tax Credit
2. Federal and NYS Tax Credits and Incentives

For additional information, reach out to Kristin Re', CPA.