Manufacturing and Distribution

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Minnesota Metro Sales Tax Increase

September 19, 2023

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.

Emergency Savings Accounts

August 24, 2023

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.

General Business Credit for Manufacturing

August 22, 2023

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.

Reshoring Production

August 22, 2023

Has your manufacturing company considered reshoring production to the United States? There are plusses and minuses to weigh before making a final decision.

How Top CEOs Found Success Through Immersion

August 17, 2023

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.

Will You Need To Report Beneficial Ownership Information?

August 7, 2023

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.

Mistakes To Avoid When Setting Growth Goals

August 1, 2023

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.

Personally Paid Corporate Expenses

July 31, 2023

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.

Trust Fund Recovery Penalty

July 25, 2023

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.

Family and Medical Leave Act

June 29, 2023

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.

Minnesota Bans Non-Compete Provisions

June 23, 2023

As of July 1, 2023, Minnesota will prohibit employers from requiring employees to sign non-compete agreements restricting their employment options upon termination.

First-Year Depreciation

June 22, 2023

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.

Meal and Vehicle Expenses

June 21, 2023

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.

The Power of AI: Boosting Worker Productivity

June 18, 2023

VIDEO: Learn how Artificial Intelligence is transforming worker productivity and its impact on businesses and the labor market.

Big Data Analytics

June 15, 2023

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.