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Domestic manufacturers’ growth could bring sales tax problems

TaxConnex

Tariff talk and hard lessons of supply chains during the pandemic are driving new interest in basing manufacturing operations in the United States. Covid exposed the vulnerabilities of traditional global supply chains, and experts expect reshoring (bringing manufacturing back to the U.S.) What do manufacturers have to watch for?

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Treasury and IRS Offer Guidance on Energy Efficient Home Improvement Credit

CPA Practice

The revenue procedure provides procedures and requirements that a manufacturer of specified property must follow to be treated as a qualified manufacturer. To become a QM, a manufacturer must: Register and enter into an agreement with the IRS. The credit is limited to certain amounts, per taxpayer and per tax year.

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IRS Issues Guidance for Energy Efficient Home Improvement Credit

CPA Practice

The revenue procedure provides procedures and requirements that a manufacturer of specified property must follow to be treated as a qualified manufacturer (QM). To become a QM, a manufacturer must: Register and enter into an agreement with the IRS. The credit is limited to certain amounts, per taxpayer and per tax year.

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Year-End Tax Strategies for Businesses

Withum

The corporate tax rate is currently a flat 21% rate. There is also a 15% corporate alternative minimum tax (CAMT) based on book income for companies with average annual adjusted financial statement income exceeding $1 billion. Please work with your tax advisor for future planning.

Tax
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Strategic Tax Planning Under The OBBBA: Special Depreciation Allowance for Qualified Production Property

Withum

As businesses evaluate capital investments in production facilities, understanding the tax implications is crucial. Businesses should carefully evaluate these specific criteria as part of their broader tax planning strategy to maximize available benefits and secure compliance. Lodging and parking. Sales and marketing activities.

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Congress Passes One Big Beautiful Bill – President to Sign on July 4

Withum

One Big Beautiful Bill Tax Provisions The One Big Beautiful Bill includes the following significant federal income tax provisions. This would provide that an amended return be filed for 2022, and 2023. If a 2024 tax return has already been filed, then an amendment would be required.

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What do you REALLY need to promote as an accountant?

Mark Lee

The manufacturers will sell more of their products if they focus on what their customers really want. These objectives may be to save money, time and effort or to avoid making critical mistakes, to increase their profits, maximise their post-tax sale proceeds – or any of a long list of other ideals.