Manufacturing and Distribution

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Product Profitability for Manufacturers

March 6, 2025

For manufacturers, knowing product profitability for individual items is essential for strategic decision-making and long-term success. While total revenue can provide a sense of overall product performance, profitability analysis can deliver a clearer picture of which products contribute the most (and the least) to your bottom line.

Corporate Transparency Act (CTA) Reporting Suspended

March 6, 2025

The Treasury Department has suspended the CTA filing requirement for U.S. businesses, signaling a major shift in compliance obligations. While the rule may still face legal challenges, domestic companies are no longer required to report beneficial ownership information—at least for now.

Manufacturers: Avoid Overpaying State Sales Taxes

February 28, 2025

Manufacturers often can benefit from state sales tax exemptions. However, available exemptions sometimes vary significantly by state, so manufacturers need to stay on top of available exemptions to avoid overpaying state sales taxes.

Increased Business Tax Limits for 2025

February 4, 2025

For 2025, inflation-adjusted changes were made to certain business tax limits. Here’s how much employees can contribute to their 401(k)s and FSAs this year, as well as other important business tax amounts.

Managing Payroll Taxes

January 30, 2025

Navigating the complexities of payroll taxes is a daunting task for small business owners. Learn how you can streamline your payroll processes by developing strategies to ensure compliance, avoid penalties and maintain employee trust so you can continue to focus on growing your enterprise.

Tax Treatment of Intangible Assets

January 22, 2025

Properly managing the tax treatment of intangible assets is vital for businesses to maximize tax benefits and ensure compliance with tax regulations.

Self-Employment Tax Refresher

January 20, 2025

You’re probably familiar with the self-employment tax if you own a business. Here’s a refresher on how it works, how it will increase and whether there’s anything you can do to reduce it.

2025 Standard Mileage Rate

January 20, 2025

The standard mileage rate is adjusted annually and calculated based on driving costs, including the price of gas. The IRS announced that the 2025 cents-per-mile rate for the business use of a car, van, pickup or panel truck is 70 cents.

Business Continuity Plan for Manufacturers

January 15, 2025

A business continuity plan is a must for manufacturing companies. Your plan should outline the immediate steps to be taken in the event of a crisis and be flexible enough to allow your company to adapt to unanticipated scenarios.

Manufacturers: Set a Realistic Budget

January 10, 2025

A realistic budget can allow your manufacturing company to identify potential cash shortages and production capacity constraints. However, be aware of certain pitfalls.

New Form 1099-K Threshold

January 9, 2025

Significant changes to the IRS's 1099-K reporting thresholds are in effect and affect anyone who uses payment apps or online marketplaces. Find out what these updates mean for you and how to navigate the new requirements.

Travel Expenses Deduction

January 8, 2025

If you’re a small business owner, you want to take full advantage of travel expenses deductions that are allowed for business travel. They can reduce your taxable income. Safe travels and happy deducting!

Business-Related Meal and Entertainment Expense Deductions

January 7, 2025

Business-related meal deductions can be valuable, but the rules can be complex. Under current law, your business can’t deduct most entertainment expenses.

Employer-Matching Retirement Contributions for Student Loan Payments

December 5, 2024

Did you know you can now match student loan payments with retirement contributions? Find out how this change can make your benefits package more competitive and appealing.

Smart Year-End Tax Moves for Businesses

November 21, 2024

Year-end tax moves can help small business owners face crucial tax planning decisions that can impact their financial health. This article offers strategic insights to optimize your tax position before ringing in the new year.