This article discusses a unique tool that many CPAs do not utilize or even know about. The cost segregation study is a way to recognize the fact that a building depreciates over time due to everyday wear and tear. Specifically, “a property’s elements are divided into two categories: real property, which includes permanent and …
This article explains that the electric heavy-truck start-up, Nikola, has begun production for its battery-powered version of its electric Tre semi-truck. Production for the electric semi-truck is located at Nikola’s factory in Coolidge, Arizona. The electric version of the Tre is “intended for shorter routes, with an estimated range of about 350 miles.” Nikola …
This article discusses the most recent publication from the IRS regarding requirements when applying for research and development tax credits. For example, the required information includes names of individuals who performed each research activity, all the information each individual sought to discover by business component, and all the business components that form the factual …
This article discusses how the research and development tax credit is an incentive from the federal government that is meant to incentivize innovation, design, and manufacturing. A tax credit is more significant than a tax deduction because it “reduces the amount of taxes owed, whereas a deduction reduces the amount of taxable income.” In …
This article explains the three types of business valuation methods and why it is important to know your business’s worth. The three approaches to value a business include market-based valuation, asset-based valuation, and income-based valuation. The market-based valuation method compares multiple businesses within the same industry. The asset-based valuation method involves adding assets and …
This article explains the qualities of manufacturers and other businesses that allow them to prosper. Continuous improvement can be seen through giving authority to the people closest to the work. It can also be seen by being aligned with a united vision, strategy, goals, and objectives. An organization that provides standard work: such as …
This article explains that General Motors is investing a load of money into growing its electric vehicle manufacturing capabilities in Michigan. GM had decided to invest the money into four different sites, including “a new battery cell plant in Lansing and the conversion of GM’s assembly plant in Orion for production of the Chevy …
This article explains that almost half of the newly added electricity addition will be solar energy additions. The U.S. solar energy industry was dealt “a big blow at the initial stages of the pandemic due to a decline in installation trend, is once again on a solid growth trajectory.” As of 2020, the cost …
This article dissects the new legislation from the IRS that requires more documentation for those filing research and development tax credits. The IRS gave a three-month warning, and these changes are expected to be forced on January 10. In addition to more substantive documentation, there is also a chance that taxpayers “will no longer …
Steel and metals manufacturers are in high demand these days. That said, high demand alone will not ensure a company’s success—this requires hard work and strategizing. In a new article from Thomasnet, Shalane Layugan offers advice to metal manufacturers seeking to pursue business growth. Click here to read about her suggestions, including crafting a …
