CFO. You may have traditionally thought this executive-level role reserved for only larger businesses. But now that your business is growing, you are considering whether you need a new financial role in your organization – one that can focus on the overall financial position and future of your business. Help that goes beyond daily, reactive […]
CFO Services for Small Business: Do You Need Them? Read More »
There are currently at least three ways your clients can write off costs associated with boats this year, assuming they itemized deductions. 1. Mortgage Interest Generally, you’re allowed to deduct qualified mortgage interest paid on a principal residence and one other home, like a vacation home. Under the TCJA, deductions are limited to interest on up to $750,000
Boating Deductions Clients Can Reel In Read More »
There’s been a disturbing change in precedent as practiced by the Internal Revenue Service: IRS audits of research and development tax credit claims by service providers, such as architecture and engineering companies, have become inconsistent over the last couple of years. In fact, IRS audit actions appear to be reversing the long-standing precedent for the
A turn for the worse in IRS treatment of the R&D credit Read More »
Manufacturing Global takes a look at the latest manufacturing market trends in CPG, predictive maintenance, Big Data security, AI and industrial robotics Consumer-Packaged Goods (CPG) Market As consumer-packaged goods (CPG) manufacturers strive to anticipate customer demand and optimise their processes, the latest forecasts from ABI Research indicates that overall digital factory revenue will reach US$24bn by 2030,
Factories of the Future: Five Manufacturing Market Trends Read More »
From depreciation and carrying forward losses to research and development credits, public contractors rely on an array of tactics to help minimize tax bills. This article is the second in a series looking at what public and private construction firms pay in federal taxes and the techniques some of them use to minimize their tax
5 strategies construction firms use to lower their taxes Read More »
If you’ve read the beer trade press in recent weeks, you might have the sense that May was not a great month for the craft category. And, if your frame is scan data and your only comparison is 2020, you’d be right. That said, this is a reminder that 2020 was not a normal year,
Negative Craft Beer Sales Trend ~ Is this a good thing? Read More »
’Tis the season to crack open a cold one, whether it’s at a cookout, at an all-American baseball game, or on a tubing trip down a slow-moving river. In the midst of summer’s usual uptick in beer sales, how much of our cash is actually going toward the cost of a brew? Less than you might think.
How High are Beer Taxes in Your State? Read More »
The head of Deschutes Brewery says the proposed alcohol tax introduced in the past week to the Oregon Legislature is akin to kicking the homegrown industry while it’s down. After a year of partial openings and closings and reduced revenues from the lack of keg sales, beer brewers need every advantage to keep the doors
Lawmakers ponder tax hike for brewers, wineries and distilleries Read More »
As if times aren’t tough enough, beer may get more expensive. This is because the temporary federal excise tax cuts on alcoholic beverages are set to expire at the end of the year, unless Congress acts. The loss of these excise tax credits will hit the beer industry hard, as shutdowns and curtailed re-openings due
Beer Taxes Set To Jump Read More »
For many, being a farmer is a way of life. It’s in your blood. It’s a connection with the land and the animals you care for. However, sometimes what our gut says is a farmer doesn’t meet the definition for tax purposes. Not all activities people associate with farming create what the IRS considers farm
How to Determine If You’re a Farmer for Tax Purposes Read More »
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