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Key Indicators for Tracking U.S. Manufacturing Health
 
In this short video, RSM US Chief Economist Joseph Brusuelas discusses key indicators of U.S. manufacturing health, wage and productivity data, and the future of new manufacturing jobs in the U.S. To view the view the video click here.
 
For more information, please contact John Rittichier at 800.880.7800 ext. 8484, jrittichier@hsccpa.com.
New Filing Requirement for Directors & Officers of Group Captive Insurers

Recent regulations passed by the IRS now require certain Directors and Officers of captive insurers to file a Form 5471 with their personal tax return (1040) beginning with tax year ending December 31, 2016. This filing is for informational purposes only and does not affect the individual's taxable income.
 
For more information on the new filling requirement, please contact Aaron Wilzbacher at 800.880.7800 ext. 1322, awilzbacher@hsccpa.com.
Tax Opportunities and Threats for Manufacturers in 2017
 
Tax issues dealing with state nexus, proposed business tax reform, and international tax were discussed during a recent RSM webcast. Multistate taxation is a big issue with manufacturers that have activity in more than one state. It is important to know what activities your business is performing in each state so that filing requirements or state planning opportunities are not overlooked. Multinational manufacturers should pay close attention to base erosion and profit shifting (BEPS), country by country reporting, and possible 2017 international tax reform.
 
T o read the full article that discusses the highlights from this webcast, click here or contact John Rittichier at 800.880.7800 ext. 8484, jrittichier@hsccpa.com.
What to Know About Property Tax Savings for Manufacturers
 
Manufacturers should to pay close attention to how their personal property and real property are being assessed. A comprehensive tax review can prevent tax overpayments, often times representing 20 percent of the company's overall property tax liability. One issue that can arise for a manufacturer is the proper reporting of the useful life of a piece of equipment. For example, tables and chairs in a restaurant have the same useful life for property tax purposes whether it is a fast food restaurant or a five star restaurant. However, since most manufacturing equipment is unique to a specific business, its useful life must be evaluated differently than a standard piece of equipment. Rick Esser illustrates additional common areas of overpayment in his article located here.
 
 For more information on property tax savings, please contact Aaron Wilzbacher at 800.880.7800 ext. 1322, awilzbacher@hsccpa.com.
ABOUT OUR MANUFACTURING & WHOLESALE DISTRIBUTION INDUSTRY TEAM

From increased competition and continuous quality improvement demands to rising employee benefit costs and declining margins, manufacturers and wholesale distributors are facing greater challenges than ever before. In addition to the services you would expect from an accounting firm, we have a dedicated team ready to assist you with the unique challenges and issues facing your industry.

A number of our staff members belong to The Association for Operations Management (APICS) with some having achieved the CPIM and CIRM certifications. We understand your key issues and possess the drive and determination to help you manage your company on a proactive basis. This commitment positions us at the cutting edge of the industry and enables us to spot trends and deal quickly with the issues your company may be facing.
SEE WHAT OUR CLIENTS ARE SAYING...

"From assistance with strategic planning to representing us during a tax audit, their insight has both saved us money and helped make our business even more successful. We have found Harding, Shymanski & Company to be extremely proactive and there to give us advice, even in advance. They are more than just an accounting firm... they are our trusted advisor. ."

- Diane Fischer, President, L&D Mail Masters
Disclaimer: The information contained in this email is for general guidance on matters of interest only. The publication does not, and is not intended to provide legal, tax or accounting advice.

Harding, Shymanski & Company, P.S.C.
800.880.7800 | info@hsccpa.cm  | www.hsccpa.com 
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