August 2022
Featured Article From Our Experts
Improve Your Hiring Process While Generating a Tax Credit: The Work Opportunity Tax Credit
In the manufacturing industry, finding employees continues to be a challenge. However, there is one often overlooked method that employers can use to widen their hiring pool. In this article, I will review the Work Opportunity Tax Credit (WOTC) and how your business can take advantage of this valuable tax break. I will also help you determine how much your business could expect to receive by utilizing the credit.

How Manufacturing Companies Can Benefit From the Section 179 Expensing Deduction
Does your manufacturing company need to acquire new equipment to meet demand? Fortunately, there’s a tax break that can help: the Section 179 expensing deduction. It allows you to deduct the cost of qualifying new or used pieces of equipment you place in service this year. However, there are two limits on Section 179 deductions that might stand in your way. In this article, we will review the Section 179 deduction and the two key limits that could affect your purchasing decisions in 2022.
Addressing Cybersecurity Before It's Too Late
Many manufacturers have a false sense of calm when it comes to cybersecurity. They incorrectly assume their risk of a cyberattack is low, because they do not sell products on the Internet or gather credit card information and other sensitive data from customers. However, manufacturers are becoming a more common target for attacks. This article identifies the reasons why and what you can do to get ahead of cybercriminals.
“Small” Manufacturing Companies May Be Eligible for Big Benefits
Are your manufacturing company’s gross receipts under $25 million? If so, it may be eligible for small business tax benefits. This article outlines the potential benefits of small business status and determining eligibility. 
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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