Manufacturing and Distribution

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On October 1, 2023, a metro sales tax increase will affect seven metro counties in Minnesota. The counties of Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington will need to collect a new 1% local sales tax that will be used to fund transportation and housing projects.
In 2024, new provisions of the Secure Act 2.0 may allow businesses to help non-highly compensated employees in financial emergencies to take a withdrawal from their 401(k), 403(b) or 457(b) plan using emergency savings accounts that are linked to the plan.
If your manufacturing company is looking to reduce its tax bill, it’s important to familiarize yourself with the General Business Credit (GBC) which is a collection of credits scattered throughout the tax code.
Has your manufacturing company considered reshoring production to the United States? There are plusses and minuses to weigh before making a final decision.
VIDEO: Discover how CEOs of Airbnb, Starbucks, and Uber immersed themselves in their own businesses as customers and frontline employees, gaining valuable insights that transformed their companies. Learn how their firsthand experiences led to innovative improvements and a better understanding of their customers' needs.
VIDEO: The Corporate Transparency Act will require most businesses to provide beneficial ownership information to the U.S. Department of Treasury to combat money laundering. Find out who needs to report, what information is required, and when the reports must be submitted.
VIDEO: Discover the common mistakes made when setting growth goals and how to avoid them. Learn how to create a clear and achievable plan to take your business to the next level.
When spending money personally on behalf of your closely held corporation, you want to ensure the expenses are tax deductible by either you or the business.
When employment taxes aren't paid to the government, the Trust Fund Recovery Penalty is personally imposed on certain business owners and managers. Here are the rules, along with two cases where individuals were held liable and hit with the harsh penalty.
Do you know if your employees are covered by the Family and Medical Leave Act (FMLA)? In this article, get the details on employee thresholds and leave provisions.
As of July 1, 2023, Minnesota will prohibit employers from requiring employees to sign non-compete agreements restricting their employment options upon termination.
If your business has a choice to deduct real estate expenses or depreciate them over several years, the decision may seem simple. But there are a number of factors to consider.
Business meal and vehicle expenses are a magnet for IRS review. If you claim deductions for them, it’s important to comply with the strict tax law substantiation requirements. Keep these DOs and DON’Ts in mind.
VIDEO: Learn how Artificial Intelligence is transforming worker productivity and its impact on businesses and the labor market.
Manufacturers: The promise of big data analytics is improving product quality, increasing productivity, reducing waste, and minimizing variability with only minor adjustments to your manufacturing process.
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