The Internal Revenue Service has released the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable and medical purposes. The
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Blog Category: Manufacturing
Whether you are a new or a well-established business, maintaining good business records is essential to supporting your business income and tax deductions. Good recordkeeping means you also claim the
Companies with large amounts of tax depreciation could be impacted greatly. Background and Basics of the Business Interest Deduction Limitation As part of the new tax law (Tax Cuts and
How your company can utilize R&D credits as you break through the Fourth Industrial Revolution (4IR)
What is the Fourth Industrial Revolution (4IR)? The Fourth Industrial Revolution goes beyond computing automation – think Artificial Intelligence, Robotics, the Internet of Things, Big Data analysis, and 3D printing.
Institutional knowledge. What your staff knows is one of the most valuable intangible assets of every organization. It’s often taken for granted and losing it is costly, frustrating, and inefficient.
Is your accounting department prepared for the recent changes to meals and entertainment deductions? Have they been trained to code invoices and track expense reports according to the new rules?
You’ve all heard the saying “failing to plan is planning to fail.” As a business owner, one of the most important and beneficial actions you can take is establishing a
In May 2014, the FASB issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606). Since then, there have also been several amendments to the ASU that
The 2017 Wisconsin Tax Act 59 gave all Wisconsin commercial businesses some property tax relief. There’s been some questions around the changes so let’s dive right in. The exemptions in
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