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:
- 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
Akta Parikh is a Senior Associate at Corrigan Krause.
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.
Regardless of size, having an inventory management system is critical to the success of a bu Read More >>
Sal Caroniti, CPA is the Chief Operating Officer at Corrigan Krause.
A vendor provides goods and services that are critical to your business. Regardless of the size or function of your organization, vendors can save your company money and time as well as decrease any unforeseen complications that may arise. As vendors are an essential piece of an organization, it is important to cultivate strong relationships. Vendor management is the process of overseeing the entire ven Read More >>
Sal Caroniti is the Chief Operating Officer at Corrigan Krause.
Regardless of the specific industry within the manufacturing sector, today’s companies face a variety of challenges ranging from employment issues, international competition and margin compression due to pressures placed on them from their customers.
With the national and State of Ohio unemployment rates being 3.9% and 4.6%, respectively, companies are faced with increased competition for top talent Read More >>
Akta Parikh, CPA, CA is a senior associate at Corrigan Krause.
The most important decision after deciding when, where and what to sell, is at what price. It is common for manufactures to achieve strong top-line sales and still have a loss or less than desirable profits.
Today we will focus on product costing aspect. So, what are costs? An estimate of a price.
Costs to manufacture a product are known as manufacturing or direct costs. Some of the most common costs are raw material Read More >>
Brian Weisbarth, CPA, CFE is a senior manager at Corrigan Krause.
With interest rates continually on the rise, borrowed funds are becoming more expensive for businesses. Being able to improve internal cash flow can help a manufacturing company reduce its need for borrowed funds.
Here are a few ideas to help improve cash flow:
Sell excess inventory – if a company has slow moving inventory, those are invested dollars sitting in your warehouse; materials, labor costs and pa Read More >>
Brian Weisbarth explains the growing local opportunities in the manufacturing industry.
Today’s workforce is ever changing; baby boomers are retiring at record rates, technology is changing every day and millennials are getting more and more involved in the work force.
For most, the path to the American dream is earning a college education followed by a job in the related field of study (if you are lucky). Today, college graduates are leaving school with an average st Read More >>