Manufacturing and Distribution

Categories

Spouse-Run Business

Do you and your spouse operate a profitable unincorporated small business? If so, a spouse-run business is generally classified as a partnership and can face some challenging tax issues.
More Info »

2023 Depreciation Adjustments

Inflation has some beneficial side effects for business owners. One is that the 2023 depreciation adjustment amounts increases the possible tax breaks your business.
More Info »

Sec. 199A Deduction

The Sec. 199A deduction is a potentially valuable tax break if your manufacturing company operates under one of the applicable pass-through entity types such as an S corporation, partnership or limited liability company, and you meet certain eligibility requirements.
More Info »

Guaranteeing a Loan

If you are guaranteeing a loan to your corporation and it goes into default, there may be tax consequences. You don’t want to be caught unaware.
More Info »

Exit Strategy Planning for Manufacturers

It’s smart for manufacturing business owners to have a well-planned exit strategy. Do you know what your plan should cover?
More Info »

2023 Q4 Tax Deadlines

The 2023 Q4 tax deadlines are coming up fast. And, it’s also time to start thinking about year-end tax strategies.
More Info »

Minnesota Metro Sales Tax Increase

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.
More Info »

Emergency Savings Accounts

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.
More Info »

General Business Credit for Manufacturing

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.
More Info »

Reshoring Production

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

Personally Paid Corporate Expenses

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.
More Info »

Trust Fund Recovery Penalty

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.
More Info »

Family and Medical Leave Act

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.
More Info »

Minnesota Bans Non-Compete Provisions

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

First-Year Depreciation

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.
More Info »
We Value Your Privacy

This site may use cookies to store information on your computer. Some are essential to make our site work and others to improve the user experience. By using this site, you consent to the placement of these cookies and accept our privacy policy.