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2017
Jun 20

E-Verify Helps Confirm Employment Eligibility

Immigration and legal residency are hot topics in today’s environment, and, as a result, closer scrutiny is being paid to employment eligibility. Federal law requires employers to verify employment status; however, dishonest workers sometimes use fake or stolen IDs to get hired. The E-Verify system helps employers comply with the law. This article explains how E-Verify works and why the requirements for using it might change in the future.

2017
May 30

How Manufacturers Can Reduce Waste

Look around most shop floors, and you will see evidence of waste. Piles of scrap materials can be found around production and assembly areas, leading to safety issues and cleanup costs. If you look deeper into the operations of manufacturing companies, you will see that waste extends beyond trash. This article explores the concept of waste and provides creative solutions for reducing it with preventive maintenance, routine physical inspections and effective quality control.

2017
May 17

Combining Liquidity and Efficiency Metrics: Cash Conversion Cycle Can Be a Useful Management Tool

The cash conversion cycle is a financial metric that evaluates the time it takes your company to convert raw materials to cash collected from customers. This article tells how it is calculated and what it means.

2017
Mar 21

Spotlight on the Research Credit

After being continually renewed since the 1980s, the research credit was finally made permanent under the Protecting Americans from Tax Hikes (PATH) Act. This change allows manufacturers to plan (with certainty) for their research and development (R&D) expenditures. And, it is expected to survive any tax reform legislation that will pass in 2017. This article provides an overview of the current rules on how to claim credits for R&D spending, including how the break has been expanded for certain small manufacturers.

2017
Feb 14

Use Management Letters to Improve your Business

Audited financial statements typically come with a surprise bonus that business owners might not be aware of: the management letter. This article describes what is required to be reported in the management letter, how a company can use it and the types of comments a CPA may voluntarily opt to report to demonstrate his or her commitment to the client’s success.

2017
Jan 06

Waste Not, Want Not: Audit Warehouse Operations for Inefficiencies

Management can never be too busy to review how warehouses are laid out and how employees move around the space. Small adjustments can make a big difference in the bottom line. This article offers three steps toward more efficient warehouse management.

2016
Dec 20

Compensation Packages: Finding the Right Fit

Many manufacturers are struggling with attracting and retaining skilled workers and complying with government regulations, such as the Department of Labor’s new overtime rule and the shared-responsibility provisions of the Affordable Care Act. This article reveals surprising statistics about health insurance coverage by small businesses. It also provides compelling reasons to buck the trend to not offer health coverage and offers creative alternatives for controlling labor costs. A Sidebar highlights the benefits of hiring veterans, including a temporary tax break.

2016
Nov 29

Valuation Basics: Key Points to Think About Before Transferring Ownership

A business valuation is important when deciding whether to transfer ownership to the next generation or to sell the business to a third party and give the next generation the sales proceeds (or alternative investments purchased from those proceeds). This article describes business valuation methods and the current state of the M&A market.

2016
Nov 18

New Overtime Rules Will Affect You – Are You Ready?

In May 2015, the Department of Labor (DOL) finalized new overtime rules that update the thresholds for classifying workers as nonexempt and highly compensated. The long awaited changes will increase pay for more than 4 million workers. This article explains changes that will go into effect starting on December 1, how they will impact manufacturers and how business can legitimately reduce overtime costs. A Sidebar highlights the stance the National Association of Manufacturers has taken on the new rules.

2016
Oct 31

Accelerating Depreciation Deductions: A Cost Segregation Study May Reduce Taxes

Businesses that acquire, construct or substantially improve a building may want to consider a cost segregation study. These studies combine accounting and engineering techniques to identify building costs that are properly allocable to tangible personal property rather than real property. The result may allow businesses to accelerate depreciation deductions, thus reducing taxes and boosting cash flow. This article details how a cost segregation study works.

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