{title} icon

Lumsden McCormick Firm News

Tax Time – What Every Manufacturer Needs to Know

WATCH THE WEBINAR HERE.

Watch this webinar recording where we discuss these tax breaks and more:

  • Deductions for R&E expenditures: The TCJA changes the tax treatment of R&E expenditures from immediate deduction to amortization over five or 15 years, depending on where the research is conducted.
  • Research credit: Manufacturers can claim the research credit under IRC Sec. 41, which can help improve cash flow and increase runway.
  • NYS tax credits & incentives manufacturers:  The NYS tax credits and incentives you should be aware of including the Investment Tax Credit, the Employment Incentive Credit, and the Excelsior Jobs Program.
  • Other Tax Planning Opportunities: Accounting method changes, depreciation, and the Inflation Reduction Act, plus more

 

Additional Resources:

 

Presenter: Kristin Re’, CPA, Lumsden McCormick CPA

Held in cooperation with the Buffalo Niagara Manufacturing Association.

 

 

SIGN UP TO RECEIVE OUR LATEST TAX AND ACCOUNTING ARTICLES, NEWSLETTERS, AND EVENTS. SIGN UP

Comprehensive. Proactive. Accessible.
How Can We Help?