D&M Manufacturing Industry Newsletter

November 2023

Mickel Pompeii, CPA

Featured Article From Our Experts

2023 Year-End Tax Planning Considerations for Manufacturers

As the end of the year draws near, it's important for you to consider various tax planning opportunities for manufacturing businesses. By leveraging these opportunities, you can potentially defer, reduce or even eliminate your tax liability for the year 2023. In this article, I will provide several tax planning strategies that your manufacturing company can implement.

Are You Prepared To Join the Manufacturing 4.0 Revolution?

Are you prepared for technology in your business that could enhance productivity and quality, improve efficiency, minimize costs and increase workplace safety? This article explains how Manufacturing 4.0 is changing the industry.

Attracting Skilled Labor With Retirement Opportunities

The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) makes it easier for employees to save for retirement by increasing contribution limits and expanding hardship withdrawals. It also offers tax credits and other incentives for employers that adopt new retirement plans. In this article, we will outline some key provisions for employers to consider.

Manufacturing Across State Lines

In recent years, much of the discussion about multistate taxation has been focused on sales tax. However, manufacturers should also pay attention to the income tax implications of conducting business across state lines. This article will explain the importance of Nexus and the updated guidance from the Multistate Tax Commission (MTC) that may raise concerns related to income tax.

Join us for our Annual Nonprofit Conference. This conference is designed to provide valuable insights into the financial and operational challenges the nonprofit industry faces. It aims to help you manage your organization or serve on a board more effectively. The conference will be held virtually, and CPE credit will be offered.

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About Dannible & McKee, LLP

Dannible & McKee, LLP has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978. The hallmark of our firm is our technical expertise, depth of experience and our approach to delivering quality service to our clients. We understand the unique needs of manufacturers, and our team of manufacturing specialists are well-versed and experienced in manufacturing concerns, and able to address your needs. We are involved in many organizations that serve manufacturers, including the Manufacturers Association of Central New York (MACNY) and the Central New York Technology Development Organization (CNY TDO). We are also Upstate New York’s first-ever affiliate of GGI Global Alliance (GGI), the prestigious international organization of professional firms.

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DM Financial Plaza, 221 South Warren Street, Suite 500,Syracuse, NY 13202

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220 Stage Road, Vestal, NY 13850

To learn more about Dannible & McKee, visit us at: www.dmcpas.com.