Article Archives: Rene Schaefer

The manufacturing industry makes up the backbone of the U.S. economy and, as such, there are many tax incentives aimed at helping manufacturers grow and thrive. Below, you’ll find 10 of these manufacturing tax incentives available to you in 2021:

Depreciation Expensing Under Section 179 and Bonus Depreciation

Manufacturers are allowed to expense up to $1.05 million in fixed asset additions under Section 179 if the total additions are less than $2.62 million each year.

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This article was originally published on 7/26/2018 and has been updated to provide further clarity.

The Tax Cuts and Jobs Act (TCJA) has significantly changed the tax deduction mortgage interest rules.

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The CARES Act provided a technical correction for Qualified Improvement Property (QIP) that enables taxpayers to claim 100% bonus depreciation on eligible improvements. This change was made retroactive to property placed in service on or after January 1,

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June 9 update: This article has been edited to reflect new guidance introduced in the Paycheck Protection Program Flexibility Act of 2020.

Congress has created numerous tax incentives to assist businesses during this unprecedented time,

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Under the CARES Act, Congress provided many new tax provisions to assist companies and individuals through this challenging time. One of those new provisions allows business net operating losses to be carried back five years for tax years beginning after December 31,

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This article was originally published in July 2019. It was updated in March 2021 to reflect new information available.

Under the Tax Cuts and Jobs Act (TCJA) and the CARES Act,

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The Tax Cuts & Jobs Act (TCJA) arrived with significant guidance, setting new rules for entertainment and club dues that every business owner needs to know.

Prior to TCJA,

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This year brought many accounting and tax changes for both private and public companies. In addition to the changes brought by the Tax Cuts and Jobs Act (TJCA), the new GAAP revenue recognition standards will take effect for non-publicly traded companies for years beginning after December 15,

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Is your business involved in creating intellectual property or process and product improvement? If so, you or your business may qualify for federal research credit cash incentives.

What is the Credit Based On?  » Read more