Manufacturing and Distribution

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The tax implications when selling a manufacturing business can impact your tax bill and therefore, your net proceeds from the sale.
Manufacturers need to conduct a periodic review of their buy-sell agreement and modify its language to reflect changing circumstances.
A company's structure affects taxes and for decades, owners of small to midsize manufacturing companies have opted for the S corporation form of ownership, rather than being subject to the double taxation of C corporations. However, in recent years the limited liability company (LLC) has become another popular alternative. Let’s
The 2022 State of Manufacturing results are in! Minnesota manufacturers are now preparing for yet another marketplace headwind.
The Section 179 deduction for manufacturers provides a tax break when acquiring new equipment. It allows you to deduct this year the cost of qualifying new or used property you purchase. Your deduction can even exceed the amount you provided from your own funds to make the purchase.
These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on deducting website costs. Fortunately, established rules that generally apply to the deductibility of business costs provide business taxpayers launching a website with some guidance as to the proper treatment of the costs.
While most companies expense the cost of research and development activities, most fail to take advantage of the R&D tax credit. Learn how the tax credit works and what expenses qualify for it.
Manufacturers operating in more than one state may be subject to multi-state taxation. But with proper planning, you can potentially lower your company’s state tax liability.
Many businesses shut down due to the pandemic and the economy. However, tax obligations when going out of business need to be met. First, a business must file a final income tax return and other related forms for the year it closes its doors.
To help businesses and taxpayers impacted by the pandemic, the Minnesota Department of Revenue provided nexus relief from business income tax and sales and use tax specifically related to telecommuting due to the COVID-19 pandemic.
If your manufacturing company is like many others in the industry, you’re having difficulty finding top-notch new hires to expand your workforce and replace employees who are retiring or quitting. At the same time, you’d like to reduce your tax liability.
Small-sized manufacturers’ may enjoy several tax advantages that allow them to reduce their tax bills, defer taxes and simplify the reporting process. For example, federal tax rules generally defined a “small business” as one with average annual gross receipts of $5 million or less for the three preceding tax years.
Here are some of the key 2022 third quarter tax deadlines affecting businesses and other employers. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you.
A recession can be challenging for any business. However, business owners can take steps to prepare for a recession and position their companies for growth as the economy recovers. In this video, we'll provide six tips to help you and your business prepare for a recession.
There’s a valuable tax deduction available to a C corporation when it receives dividends. The “dividends-received deduction” is designed to reduce or eliminate an extra level of tax on dividends received by a corporation. As a result, a corporation will typically be taxed at a lower rate on dividends than
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