Craig Mackin

Latest 45X guidance from the IRS provides new insights for taxpayers looking to claim the advanced manufacturing production credit. These final regulations clarify some key terms and address the credit’s applicability to extraction and material costs. Learn more here. #45X #IRS #manufacturing

Latest 45X guidance from the IRS provides new insights for taxpayers looking to claim the advanced manufacturing production credit. These final regulations clarify some key terms and address the credit’s applicability to extraction and material costs. Learn more here. #45X #IRS #manufacturing

Are you a business owner that is concerned about the state of your accounting? If so, it may be time to take the accounting hat off and turn it over to a Professional Accountant. We have seen companies go out of business too many times simply because they did not have adequate accounting processes in place. To save money, they hire unqualified people that do not have formal accounting training and find themselves spending more due to books that are incorrect and useless. This can lead to financial heartache as they have been making decisions from numbers that do not accurately reflect what is happening with their business. Furthermore, they can end up with large tax liabilities because the tax returns are based on erroneous numbers. Now, imagine having correct financial data that guides your growing business, creates financial stability, and avoids the problems that arise from incorrect accounting. It will be a stress reliever that allows you to focus on the talents that you bring to your business's table. There is a solution that will not only deliver this future state of your accounting, but at a cost that your business can handle because the work is done on a fractional basis. Remember, a good accountant helps you generate more profit and should be viewed as an important asset to the organization. www.bluecollarcfo.com

Supply chain risk is ever-present. Here’s how to assess how much risk each of your suppliers could pose to your business. This insight is key to minimizing issues and delays so your business can continue undisrupted. #supplychain #riskmanagement

When is the opportune time to convert a partnership to a C corporation? When it comes to Section 1202 QSBS exemption benefits, there are several details to consider. Our Section 1202 tax team discusses here. Read more. #smallbusinesstax #stock #taxbreaks

Ready for multistate franchise growth? Consumer goods and franchise practice leader Lisa Plonka talks about conducting thorough due diligence, supporting franchisees with resources, and maintaining brand standards in her latest article in Franchising Magazine USA. #franchise #franchisegrowth #businessstrategy

If you're interested in finding out more about Installment sales, check out this great new blog post from the Phoenix-based ADDINGMACHINE.COM P.C.. Just click below.

Calling all manufacturers—struggling to manage accounting challenges? LBMC’s CAAS is here to help. Our team specializes in bookkeeping and financial strategy tailored for manufacturing businesses. Say goodbye to hiring stress and hello to better insights. Let’s talk about how we can make your processes more efficient! #OutsourcedAccounting #LBMC #ManufacturingInnovation

Calling all manufacturers—struggling to manage accounting challenges? LBMC’s CAAS is here to help. Our team specializes in bookkeeping and financial strategy tailored for manufacturing businesses. Say goodbye to hiring stress and hello to better insights. Let’s talk about how we can make your processes more efficient! #OutsourcedAccounting #LBMC #ManufacturingInnovation

Calling all manufacturers—struggling to manage accounting challenges? LBMC’s CAAS is here to help. Our team specializes in bookkeeping and financial strategy tailored for manufacturing businesses. Say goodbye to hiring stress and hello to better insights. Let’s talk about how we can make your processes more efficient! #OutsourcedAccounting #LBMC #ManufacturingInnovation

Calling all manufacturers—struggling to manage accounting challenges? LBMC’s CAAS is here to help. Our team specializes in bookkeeping and financial strategy tailored for manufacturing businesses. Say goodbye to hiring stress and hello to better insights. Let’s talk about how we can make your processes more efficient! #OutsourcedAccounting #LBMC #ManufacturingInnovation

Now that your taxes are complete and filed for last year, you are probably wondering what old records can be discarded. There is no fixed timeline; it depends on the type of records and whether there were any omissions on the related tax return.

The IRS has hobby loss rules to determine whether an activity is a hobby or a business. Watch this video to learn more.

The IRS has hobby loss rules to determine whether an activity is a hobby or a business. Watch this video to learn more.

Are you up to date on tax changes for construction? This session breaks down federal and state income tax updates that impact contractors. Discover practical strategies to minimize tax expenses, identify traps, and capitalize on tax deferrals. ➤ https://buff.ly/3XmUfk0

🚗 Can you deduct a financed business vehicle in the first year? Great question! Whether you finance or pay upfront, it doesn’t impact the deductibility of the vehicle. What matters is the depreciation method you choose: ✔️ Bonus Depreciation (60% in 2024) ✔️ Section 179 Deduction ✔️ MAKRS or a combination The deduction depends on the vehicle type, gross vehicle weight rating (GVWR), and purchase price. Consult a tax pro to choose the best option for your situation! #BusinessVehicle #TaxDeductions #DepreciationStrategies