April 2022
Featured Article From Our Experts
Accounting for SALT Cap Workarounds
As a result of the 2017 Tax Cuts and Jobs Act, states are adopting pass-through entity taxes (PTETs) as a workaround to the state and local income tax (SALT) cap, allowing pass-through entities to maximize their tax deductions. However, proper accounting of the transactions related to this tax-saving strategy can be difficult. In this article, I will offer advice to help you and your business understand the SALT cap workaround.
Using Data to Transform Your Manufacturing Business
Data analytics aren’t new. Businesses have always gathered data about their operations and used it to drive informed decision-making. But today’s advanced technologies and cheaper computing power make it possible to quickly collect and analyze vast amounts of data from both internal and external sources. This article will review how manufacturers use the data collected to improve productivity, efficiency and profitability.
S Corporation vs. LLC: The Way a Manufacturing Company Is Structured Affects Taxes and More
For decades, owners of small to midsize manufacturing companies have opted for the S corporation form of ownership, rather than being subject to the double taxation of C corporations or the liability risks of partnerships. Now the limited liability company (LLC) classification has become a popular alternative. In this article, we will review the pros and cons for each business structure to see which is right for your manufacturing company.
Is Your Buy-Sell Agreement Up to Date?
A buy-sell agreement is a critical tool for owners of closely held manufacturing companies. For a buy-sell agreement to be effective, you need to review it periodically and, if necessary, modify its language to reflect changing circumstances. Of particular importance is scrutinizing the valuation provision, which establishes the purchase price for a departing owner’s shares. Click the link to learn more about the valuation approaches you can take to review the accuracy of your buy-sell agreement.
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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.

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