Manufacturing

Tax

Tax Reform: Pass-through Deduction Flowchart under the New Tax Code

Yeo & Yeo CPAs & Business Consultants

The Tax Cuts & Jobs Act has introduced a new deduction for pass- through entities. This deduction may have one of the largest impacts on taxpayers of any provision in tax reform. This deduction may also be one of the most complicated provisions in the law. The deduction is generally 20 percent of qualified business income of any pass-th...

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Credentialing Hot Topics

Yeo & Yeo CPAs & Business Consultants

In the world of credentialing, you can always expect changes in the process or variations between insurance carriers. To avoid interruptions in your practice’s reimbursement and revenue cycle, you’ll want to become familiar with the most recent changes. Staying up to date can be challenging, so we’ve compiled a few tips to keep your enro...

Manufacturing

3 Ways to Develop Manufacturing Leaders

Jacob R. Sopczynski

Developing manufacturing leaders takes time and effort, but is critical to your success and the success of the industry. From an accounting and financial perspective, a few key answers come to mind, including cross-training, segregation of duties as related to fraud and internal controls, and succession planning.  Cross-traini...

Manufacturing

Consider All Key Elements in the Valuation of a Manufacturing Entity

Nolan Felsing

When it comes to performing a business valuation, manufacturing companies are unique. Because of the distinctive elements of the industry, additional valuation methods may apply compared to valuations performed for companies in other industries. That is why it is important to use a valuation professional who has a manufacturing backgroun...

Are You Writing Off Outdated Inventory Properly?

James H. Edwards

The beginning of a new year is often when businesses analyze their inventory and consider writing off old or obsolete products. Manufacturing company owners should be aware that IRS regulations make the process of writing off inventory more complicated than simply expensing the value of the outdated product. Essentially, there are two ty... Learn How

Manufacturers Indicate Increased Optimism for 2018 According to National Manufacturing Outlook Survey

Yeo & Yeo CPAs & Business Consultants

Yeo & Yeo CPAs & Business Consultants is pleased to jointly release the results of the second annual 2018 Leading Edge Alliance (LEA Global) National Manufacturing Outlook Survey. The survey report contains the expectations and opinions of 450 manufacturing executives, especially those from the Midwest, who produce a wide variety... Read More

Tax Reform Framework: Major Effect on Manufacturers

Yeo & Yeo CPAs & Business Consultants

The drumbeats for tax reform are growing louder. The Trump administration, in conjunction with the president's hand-picked "Big Six"1 group of GOP leaders, has released a nine-page outline of tax reform proposals. Not only would the plan overhaul numerous individual provisions, it would have a major impact on corporations and pass-th... Learn More

Keep Production Humming in Peak Season

Yeo & Yeo CPAs & Business Consultants

Peak production season can be a nightmare. It's the time you need all employees to show up consistently and pull their weight. But reality is often far removed from the ideal. If that's the case in your plant, you need to consider some strategies to build resilience into your staffing. Here are six tips that can help ease the strain of p... Learn More

5 Year-End Business Tax Planning Strategies in Light of Tax Reform

Yeo & Yeo CPAs & Business Consultants

It's not too late! You can still take steps to significantly reduce your business's 2017 income tax bill and possibly lay the groundwork for tax savings in future years. Here are five year-end tax-saving ideas to consider, along with proposed tax reforms that might affect your tax planning strategies.  1. Jug... Learn More

2018 Payroll Changes

Christine Porras

Paying people used to be simple. More and more federal and state regulations have complicated the payroll process. Important changes in 2018 include the State of Michigan minimum wage increase to $9.25 per hour for wages earned starting January 1, 2018. Following are changes for 2018. 2018 Payroll Changes Social Security Wage Base. T... Learn More