D&M Manufacturing Industry Newsletter

July 2024

Anthony J. Cerchia, CPA

Featured Article From Our Experts

New Reporting Requirements for the Research and Development Tax Credit

Additional guidance regarding the proposed changes to claiming the Research and Development (R&D) tax credit was released in late June. This will impact manufacturers and businesses. The following article explores the new guidance from the Internal Revenue Service and examines its implications for manufacturing companies.

Manufacturers Should Consider These Seven Midyear Tax-Reduction Moves Now

July is the year's halfway point, making it an ideal time for manufacturers to assess their tax situation and plan appropriate strategies to lower their tax liability for 2024. Taking action now can significantly benefit your manufacturing company when it comes time to file taxes. This article provides valuable tips to help you get started.

Look Beyond Revenue To Maintain Long-Term Growth for Your Manufacturing Company

Successful manufacturers understand that the key to sustainable growth lies in increasing profits, not just revenue. It is crucial for manufacturers to explore ways to enhance earnings from each direct labor hour or dollar invested in machinery. This article provides strategies worth exploring that can help boost your manufacturing company’s profits now and in the future.

How to Reduce Negative Effects from Poor Manufacturing Inventory Management Processes

Efficient supply chain management is essential for your operations as a manufacturing company. With well-thought-out strategies in place, you can proactively minimize the impact of disruptions and ensure your operations run smoothly. This article provides valuable insights on mitigating the effects of poor inventory situations.

Rea d More

Now, more than ever, manufacturers need to understand and implement sound financial strategies that can contribute to their company's long-term success. Join us for this complimentary webinar, where you will learn various financial, accounting, and tax strategies that all manufacturers should take advantage of now and in future years.

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