D&M Manufacturing Industry Newsletter

February 2024

Featured Article From Our Experts

What Does the Passing of the American Families and Business Act of 2024 Mean for Your Manufacturing Company?

The House of Representatives recently passed the Tax Relief for American Families and Workers Act of 2024, which aims to provide much-needed relief to taxpayers by extending and expanding several beneficial tax provisions. What could this mean for the upcoming tax season? In this article, I will discuss the key tax provisions included in the act and how they could affect your manufacturing business.

Five Strategies to Improve Your Bottom Line

Want long-term sustainable growth for your manufacturing business? Most manufacturers focus on increasing their revenue (top line) to grow, but boosting profits (bottom line) is the real key. In today’s competitive marketplace, owners must review their operations each year and ask: What can we do to make more money from each direct labor hour or dollar invested in machinery? Here are five strategies to help you enhance profits and maximize the value of your business.

Manufacturers Don’t Turn a Blind Eye to Occupational Fraud

Organizations lose 5% of their revenue to fraud every year, according to the Association of Certified Fraud Examiners (ACFE), and manufacturing is among the hardest-hit industries. Does your manufacturing company have antifraud controls in place? It should. This article explains why preventing occupational fraud should be a top priority for all organizations.

Don’t Let Undercapitalization Affect Your Manufacturing Company

As a manufacturing company owner, you understand the importance of having enough capital to keep your operations running smoothly. Unfortunately, undercapitalization is a common issue that can detrimentally affect your business. It can lead to missed opportunities, delayed projects and even bankruptcy. In this article, you will learn the adverse effects of poor cash flow management and the benefits of proper planning.

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