Manufacturing Industry Newsletter

May 2023

Featured Article From Our Experts

Employers: Beware of Employee Retention Credit (ERC) Schemes From Third-Party Promoters

The Employee Retention Credit (ERC) has been in the news and in many of your e-mail blasts but, are the promises too good to be true? As with many offers, the ERC comes with limitations, too, and jumping in without reading the fine print could cost you. In this article, I will explain if your company qualifies for ERC and offer tips to keep you safe if you do apply for the credit.

IRS Issues Guidance for Manufacturers on New Semiconductor Tax Credit

The IRS has released proposed regulations that provide guidance for manufacturers on the implementation of the Advanced Manufacturing Investment Credit. The credit encourages manufacturers to invest in semiconductor manufacturing property. This article will take a look at the proposed regulations, including eligibility requirements and the key definitions that clarify the credit.

Big Data Analytics Can Transform Your Manufacturing Business

What if you could improve product quality, increase productivity, reduce waste and minimize variability with only minor adjustments to your manufacturing process? That’s the promise of big data analytics. This article reviews how this analysis can lead to valuable insights that you can leverage to streamline operations and maximize output.

The High (And Often Hidden) Costs of Employee Turnover

The labor shortage may be hitting many industries, but it is affecting the manufacturing industry particularly hard. Employee retention can be your best asset. It may be time to invest in your current employees. This article breaks down the costs of employee turnover and the significant benefits manufacturers can reap by investing in their existing workers.

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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, Syracuse, NY 13202

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