D&M Manufacturing Industry Newsletter

May 2024

CPA/ PFS, CFP®

Featured Article From Our Experts

Tax Bill Currently Stalled in Congress and Its Effect on Manufacturer’s Income Taxes and Investment in Research and Development

The Tax Relief for American Families and Workers Act of 2024 (HR 7024) is a critical piece of legislation that could have a significant impact on manufacturers' financial management. This bill would modify several provisions from the Tax Cuts and Jobs Act of 2017, which currently requires taxpayers to capitalize and amortize their research and experimentation expenses. However, the status of the Act is uncertain, which can create confusion and uncertainty for manufacturers. This article explores the status of the Act, the importance of the bill and what lies ahead.

Ten Ways Cloud Computing Can Benefit Manufacturers

Cloud computing has quickly become an essential part of the modern-day manufacturing environment, growing in leaps and bounds over the last decade. Can cloud computing benefit your company? Here are ten advantages of this technology.

Reverse Sales and Use Tax Audits Can Reveal Refund Opportunities for Manufacturers

In the manufacturing industry, it is crucial not to overlook potential tax exemptions that could significantly impact your bottom line. One effective strategy to ensure you are not leaving valuable opportunities on the table is to conduct a reverse sales and use tax audit. This article demonstrates how the audit can uncover potential tax savings.

Four Lean Manufacturing Fundamentals You Can Count On

In an industry where efficiency and cost-effectiveness are paramount, lean manufacturing stands out as a game-changer. Lean companies make their products as efficiently as possible and use the least possible staff time and working capital. Here we provide four fundamental lean initiatives your company can implement today.

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About Dannible & McKee, LLP

Dannible & McKee, LLP has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978. The hallmark of our firm is our technical expertise, depth of experience and our approach to delivering quality service to our clients. We understand the unique needs of manufacturers, and our team of manufacturing specialists is well-versed and experienced in manufacturing concerns and able to address your needs. We are involved in many organizations that serve manufacturers, including the Manufacturers Association of Central New York (MACNY) and the Central New York Technology Development Organization (CNY TDO). We are also Upstate New York’s first-ever affiliate of GGI Global Alliance (GGI), the prestigious international organization of professional firms.

OFFICE LOCATIONS:

DM Financial Plaza, 221 South Warren Street, Suite 500, Syracuse, NY 13202

213 North Street, Suite 101, Auburn, NY 13021

200 Harborside Drive, Suite 201, Schenectady, NY 12305

220 Stage Road, Vestal, NY 13850

3001 N. Rocky Point Drive, Suite 214, Tampa, FL 33607

To learn more about Dannible & McKee, visit us at: www.dmcpas.com.

John F. Martin,

CPA/ PFS, CFP®