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Blogging Beyond the Numbers

R&D Credit
Posted by: Whitney Mauger 3 weeks ago
Some of the latest trends in the food and beverage industry that may qualify for the Federal research and development credit are: Reducing the number of ingredients Sustainability Reducing sugars Use of local ingredients Eco-friendly packaging Let’s say you are a food manufacturer with all production and activities taking place in the United States. Following is an example of the steps...
Posted by: Mike Scholz 3 months ago
It’s a safe bet that state tax authorities will let you know if you haven’t paid enough sales and use taxes, but what are the odds that you’ll be notified if you’ve paid too much? The chances are slim — so slim that many businesses use reverse audits to find overpayments so they can seek refunds. Take all of your exemptions In most states, businesses are exempt from sales tax on equipment used i...
Posted by: Mike Steinl 5 months ago
As you read the title to this article, you may have scoffed thinking that reducing your prices to increase profits is a ridiculous concept.  However, in certain situations, it’s absolutely true. The technique is called incremental pricing and if your supply chain business is in a cyclical industry or otherwise has times when operations are at less than normal capacity, it may help you increase y...
Tax Strategy
Posted by: Cam Brawley 8 months ago
Wisconsin is a great place for manufacturers to do business. Why? Wisconsin manufacturers can take advantage of generous property tax exclusions, income tax credits, and save money on their sales & use tax exposure. In a competitive market, Wisconsin holds its own when competing with other states for sales & use tax purposes. Let’s talk sales tax first If the manufacturer is selling tangible per...
Tax Cut
Posted by: Cam Brawley 9 months ago
As a business, do you hate meeting with your tax accountant?  Remember – they aren’t always the bearer of bad news. Here’s something you should want to talk with your tax planner about. The Business Development Credit (BTC) provides incentives for job creation, capital investment, training, and corporate headquarters location or retention, for new and current businesses located in Wisconsin....
Unlucky 13
Posted by: Mike Scholz 9 months ago
The IRS’s Large Business and International Division has identified 13 “campaigns,” or issues it will target in examinations, in the coming year. While the list targets large businesses, don’t be surprised if the issues trickle down to mid-sized and smaller businesses, too. The IRS is turning to an issue approach to audits and is focusing on those compliance issues that present the greatest ...
Posted by: Mike Scholz 10 months ago
The Section 199 deduction is intended to encourage domestic manufacturing. In fact, it’s often referred to as the “manufacturers’ deduction.” But this potentially valuable tax break can be used by many other types of businesses besides manufacturing companies. Sec. 199 deduction 101 The Sec. 199 deduction, also called the “domestic production activities deduction,” is 9% of ...
Posted by: Joe O'Connor 1 year ago
When customers can’t find what they want on a company’s website, they quickly move on to a competitor, according to The Outlook for Wholesale Distribution in 2015 study. So building a user-friendly site is a must, the study said. The increased focus on technology should level the playing field for many small and mid-sized distributors looking to gain better visibility through e-commerce. But budgeting...
Posted by: Swati Jain 1 year ago
Do you have a business that exports property/goods manufactured, produced, grown or extracted in the United States? If yes, then there is a powerful tax savings opportunity that is provided by the US government as an incentive to exporters. Interest Charge - Domestic International Sales Corporations, IC-DISC for short, are domestic tax exempt corporations that are created by the exporting company. The mec...
Wisconsin Tax
Posted by: Mike Scholz 1 year ago
Wisconsin is one of the country's most productive manufacturing states. To boost that activity even more, Wisconsin manufacturers are receiving significant tax incentives to keep this work in Wisconsin. A new law that took effect in 2013 allows manufacturers to take a credit on profits from manufacturing in Wisconsin. The credit has been phased in from 2013 to 2016. This year the credit will be fully phased...