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Top 5 Tax Planning Tips for Manufacturers in 2024

Anders CPA

The end of the Tax Cuts and Jobs Act (TCJA) and the introduction of the Inflation Reduction Act (IRA) have ushered in a new era of tax credits and incentives for the manufacturing industry. Section 48D, otherwise known as the advanced manufacturing tax credit, was also enacted by the CHIPS Act.

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2022 Year-End Tax Planning Checklist

Withum

Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. Doing so may enable you to claim larger deductions, credits, and other tax breaks for 2022 that are phased out over varying levels of adjusted gross income (AGI). million in 2023).

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2024 Tax Planning Tips from Grant Thornton

CPA Practice

To help companies and individual taxpayers understand their planning options, Grant Thornton LLP, one of America’s largest professional services firms, has released 2024 tax-planning guides for businesses and individuals. Tax-planning considerations for individuals 1. Document and substantiate. Consider timing.

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Finding Your Financial Compass: Why Small Businesses in Los Angeles Thrive with Specialized Tax and Accounting Support

MyIRSRelief

By providing a combination of tax planning, bookkeeping, and financial guidance, they empower small businesses to thrive, focusing their energy on what they do best – innovation, growth, and serving their customers. These are just a few examples, and the expertise of a specialized tax and accounting firm goes beyond industry specifics.

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A guide to effective investments in equipment for manufacturing companies

Menzies

Read on if you and your manufacturing company falls into one of the following categories: – For manufacturing companies investing in significant pieces of plant and machinery can be key to driving business growth. The tax treatment of capital expenditure can vary depending on the timing and type of purchase.

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Navigate the Complex Issues in Manufacturing & Distribution with KROST’s Industry Experts

KROST

KROST has extensive experience in the manufacturing and distribution industry. Manufacturing and distribution clients rely on our suite of services, specifically catered to their needs. Manufacturing and distribution clients rely on our suite of services, specifically catered to their needs. Keith Hamasaki, CPA, Director.

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On-Demand Webinar: COVID-19 Funding Resources and Strategies for the Manufacturing Industry

Katz,Sapper&Miller

The manufacturing industry entered 2020 with full momentum, but the evolving COVID-19 crisis has left the future uncertain. What companies do now and in the coming weeks to mitigate risk and limit damages is crucial to navigating these unprecedented times.