The Inflation Reduction Act included a number of items for businesses, but what about individual taxpayers? Overall, the Inflation Reduction Act included a number of credit updates and other extensions that affect individuals.
President Joe Biden signed the budget reconciliation bill H.R. 5376 into law Tuesday, August 16, 2022. Better known as the Inflation Reduction Act, the bill includes a number of tax provisions that may affect your business.
The start of a new year is an obvious time to strategize for your manufacturing business, but really, any time is the right time to invest in strategies and initiatives that will help your business grow. Below are five areas manufacturing businesses should consider investing their resources this year.
If your company is developing new or improved business components, including products, processes, software, techniques, formulas, or inventions, that result in new or improved functionality, performance, reliability, or quality, it’s time to take a look at the R&D (research and development) tax credit.
Updated December 2021: Over the past fourteen months, the employee retention tax credit has undergone a number of changes since it was initially introduced. The most current information is in the Current Employee Retention Tax Credit Standards: American Rescue Plan Act – March 2021 section, but we recommend reading everything below to understand the full picture of the employee retention tax credit.

Tax planning isn’t something that just comes around at the end of each year. To ensure your company is taking advantage of all available opportunities to lower your tax responsibility, consider the following as you plan for 2021:

  1. Research and Development Tax Credit
    While any qualifying activity must pass the four-part test (permitted purpose, technical uncertainty, process of experimentation and technical in nature), the Research and Development tax credit is applic
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A manufacturing company’s inventory includes goods in various stages of production; from raw materials to finished goods, assembled and ready to ship to customers. Due to the complexity and frequency of manufacturing processes, a management system can provide benefits for the organization, assembly and production of goods.