Archive for the ‘Manufacturing’ Category
by Anita Sherman, CPA and John Fisk | Team Members of the Manufacturing & Distribution Services Group
There has been a lot of discussion recently about this proposed legislation. If you have an opinion, now is the time to share it with your senator and representative.
In an article entitled “Indiana: Where We’ve Been and Where We’re Headed,” Patrick Kiely, President of the Indiana Manufacturers Association, reflects on Indiana’s status as a non-right-to-work state. Including Indiana, there are 28 states “that allow labor unions to compel, as a condition of employment, individual employees to become union members or pay union fees in lieu of membership, regardless of whether or not that person wants to join a union.” This issue is at the forefront of conversation as the 2012 Indiana General Assembly reconvened on January 4th.
by Rex Miller, CPA | Partner, Team Member of the Manufacturing & Distribution Services Group
The steady flow of headlines about recalls should be a warning to manufacturers large and small, in every industry. Recalls — and particularly the mishandling of them — can cost manufacturers millions of dollars. These are dollars most companies can ill afford to waste.
by BJ Lippert, CPA and Rex Miller, CPA, Partner | Team Members of the Manufacturing & Distribution Services Group
The economy is rebounding. Certain industries have realized greater resurgence than others. Certain companies have experienced better results within a specific industry than others. The general consensus, however, is that most business owners and employees can breathe a collective sigh of relief and return to business as usual. For most companies, a sigh of relief is in order, but beware of business as usual. Usual may no longer be good enough.
As your company rebuilds from the recession, be sure to spend wisely, save wisely, and properly nurture the right business relationships.
Current economic indicators show that the United States is emerging from the recession. Can you feel it? Has your company rebounded and returned to its pre-recession sales and profitability levels? Do you have stores of excess cash and nowhere to spend it? If so, congratulations. Write some checks to your employees as thanks for their hard work and dedication and ignore the rest of this article. But, if your company, like most other U.S. businesses, continues to struggle financially and is looking for creative ways to incentivize key employees.
by Melissa Merrick | Rex Miller, CPA
Team Members of the Manufacturing & Distribution Services Group
The Section 199 deduction (also referred to as the domestic manufacturing deduction, U.S. production activities deduction, and domestic production deduction) is a tax break for businesses that perform domestic manufacturing and certain other production activities. It was established by the American Jobs Creation Act of 2004 in an effort to ease the tax burden of domestic manufacturers and as a result make the investment in domestic manufacturing facilities more advantageous.
by Rex Miller, CPA | Partner, Team Member of Manufacturing and Distribution Services
If you think the Sarbanes-Oxley Act (SOX) doesn’t apply to your closely held manufacturing company, think again. Granted, you’re not required by law to comply with SOX provisions — only publicly traded companies are held to its corporate governance and financial reporting standards. But many privately held companies are adopting some of the act’s provisions because they make good business sense.