D&M Manufacturing Industry Newsletter

January 2024

Featured Article From Our Experts

Lasting Impact of the Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act (TCJA) was a major overhaul of the United States tax code that brought significant changes and tax reform. Six years after its enactment, corporations and individuals still feel this legislation's effects. In this article, you will learn about the lasting impacts of the TCJA and how taxpayers are still benefiting.

Manufacturers: Pay Attention to These Six Tax-Related Items in 2024

What’s the tax outlook for manufacturers as we begin 2024? With some tax benefits starting to phase out and new regulations kicking in, it is important for manufacturers to stay informed about the latest tax updates and plan accordingly so that you can optimize your tax strategy this year. In this article, you will find six tax-related items for you to focus on this year.

Maintaining a Healthy Cash Flow Is Critical for Manufacturers

As a manufacturing business owner, you understand the importance of cash flow for the success of your business. By developing efficient cash flow management strategies, you can reduce the risk of financial instability and position your business for long-term success. In this article, we'll explore some effective cash flow management strategies you can implement to optimize your financial performance in your manufacturing business.

Inventory Fraud: Knowledge Is Your First Line of Defense

Inventory is a critical asset for manufacturers but is also vulnerable to fraud. Fraudsters can steal inventory or manipulate records to misstate inventory levels, leading to significant financial losses. Manufacturers need to implement robust inventory control systems and perform regular audits to prevent inventory fraud. This article will explore the common methods of inventory fraud in a manufacturing environment and provide tips on detecting and preventing it.

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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.

OFFICE LOCATIONS:

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

213 North Street, Suite 101, Auburn, NY 13021

200 Harborside Drive, Suite 201, Schenectady, NY 12305

220 Stage Road, Vestal, NY 13850

3001 N. Rocky Point Drive, Suite 214, Tampa, FL 33607

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