Under the Tax Cuts and Jobs Act (TCJA), businesses, including manufacturers, have been required since 2022 to amortize domestic Section 174 research and experimental (R&E) costs over five years, rather than deduct them in the year incurred or paid. Manufacturers...

Are you age 50 or older? You’ve earned the right to supercharge your retirement savings with extra “catch-up” contributions to your tax-favored retirement account(s). And these contributions are more valuable than you may think. IRA contribution amounts For 2025,...

Operating a construction business requires actively and comprehensively addressing workplace safety. The well-being of your employees depends on how successfully leadership creates, deploys and upholds comprehensive policies and procedures for a safe work environment....

For years, employer-provided meals — such as free lunches, breakroom snacks, and food offered to staff working late shifts or overtime — enjoyed fairly beneficial tax treatment. However, for most organizations, the tax rules will tighten considerably beginning in...

In a 2024 National Association of Manufacturers (NAM) survey, 93% of respondents who operate as pass-through entities stated that the impending expiration of the Section 199A qualified business income (QBI) deduction would negatively impact their ability to grow,...

Before the One Big Beautiful Bill Act (OBBBA), tip income and overtime income were fully taxable for federal income tax purposes. The new law changes that. Tip income deduction For 2025–2028, the OBBBA creates a new temporary federal income tax deduction that can...

Once an organization reaches a certain size, it’s difficult to compete for talent and retain employees without sponsoring a qualified retirement plan. However, the costs of doing so can be intimidating, and plan administration might seem overwhelming. Let’s explore...

At back-to-school time, much of the focus is on the students returning to the classroom — and on their parents buying them school supplies, backpacks, clothes, etc., for the new school year. But teachers are also buying school supplies for their classrooms. And in...

By purchasing stock in certain small businesses, you can diversify your investment portfolio. You also may enjoy preferential tax treatment, some of which is getting even better under the One Big Beautiful Bill Act (OBBBA) that was signed into law in July: Qualified...

“Where did it all go wrong?” If you’ve been in the construction business a while, you may have asked yourself this question when a claim by a project owner or some other party lands on your desk. Although there’s probably no way to completely eliminate the risk of...

The One Big Beautiful Bill Act (OBBBA) introduces a new — but temporary — tax break for manufacturers. The qualified production property (QPP) allowance gives manufacturers a strong incentive to make capital investments in new production facilities. Here’s what you...