09.30.24

How Cross-Training Creates a More Productive and Flexible Workforce
Harry Fox

Manufacturers continue to struggle to find qualified workers, so any strategies for improving employee retention are welcome. One such strategy is cross-training. Done right, it can enhance productivity, facilitate process and product improvements, improve customer service and increase profitability. Employee benefits Cross-training simply means training employees to perform tasks outside their normal responsibilities. The potential […]

07.29.24

FLSA Compliance: When Does the “Workday” Begin and End?
Brandon W. Vahl

The Fair Labor Standards Act (FLSA) requires employers to pay nonexempt workers a minimum wage per hour plus time and a half for hours worked over 40 per workweek. This seems straightforward, but it hasn’t always been. In Walsh v. East Penn Manufacturing Co., Inc., a manufacturer learned this lesson the hard way. A jury […]

04.19.24

Ways to Save in 2024: Managing Workers’ Compensation and Unemployment Insurance Costs
Seamus M. Donoghue

It is no secret that labor costs are a significant expense for most manufacturers. Two important labor-related costs are your workers’ compensation and unemployment insurance. Let’s take a look at steps you can take to help manage these costs. Workers’ comp costs Most states require employers to maintain workers’ comp insurance. Many manufacturing employees perform […]

03.12.24

Work Opportunity Tax Credit: When Hiring Skilled Labor Is a Win-Win for Employers and Employees
Adam J. Pechin

Like many businesses today, manufacturers are in need of skilled workers. The Work Opportunity Tax Credit (WOTC) can provide some tax relief when you hire employees from “targeted” disadvantaged groups. Calculating the credit The amount of the credit depends on the relevant targeted group and wages paid to the new hire. For example, hiring qualified […]

12.12.23

Eight Strategies For Boosting Your Production Capacity
Kenneth Tornheim

Even with continued economic uncertainty, throughout most of this year the manufacturing industry has flourished, and many manufacturers are straining to keep up with demand. At the same time, the pandemic reminded us how uncertain the economy can be, with many companies hesitant to invest in expanding their operations. Related Read: Six Tips for Dealing […]

11.21.23

Using Reverse Sales and Use Tax Audits to Reveal Refund Opportunities
Joyce Carlson

Tracking various state sales tax laws, changes and credits can be complex and lead to missed opportunities. While most states offer sales and use tax exemptions for certain purchases by manufacturers, the messaging, processes and specifics will vary from state to state. It is easy for Manufacturers to overlook exemptions to which they’re entitled, resulting […]

10.26.23

Manufacturing Across State Lines: What Manufacturers Need to Know About Multistate Income Taxes
Brandon W. Vahl

If your business operates across state lines, it is important to understand state income tax obligations. Following the U.S. Supreme Court’s 2018 decision in South Dakota v. Wayfair, Inc., manufacturers have focused on sales tax liability. However, the recent explosion of remote work, together with revised guidance from the Multistate Tax Commission (MTC), may raise […]

07.26.23

Why Some Manufacturers are “Reshoring” Their Operations
Andrew Dombro

In recent years, there has been an emerging reshoring trend among U.S. manufacturers. The Reshoring Initiative, a non-profit organization, estimates that from 2021 to 2022, the number of new U.S. jobs from reshoring and foreign direct investment increased by nearly 35%. Reasons to use domestic sources The COVID-19 pandemic exposed serious supply chain risks associated […]

06.20.23

Inflation Reduction Act of 2022
Seamus M. Donoghue

Take advantage of new tax incentives for manufacturers Despite its name, the Inflation Reduction Act (IRA) does more than combat rising prices. According to the White House, the Act represents the “single largest investment in climate and clean energy solutions in American history.” The IRA contains several tax incentives that benefit manufacturers, including expanded deductions […]

03.30.23

How Rolling Forecasts Can Provide More Clarity
Joyce Carlson

Some of the greatest economic concerns brought on by the pandemic have been financial instabilities and volatility.  These pressing issues have forced a stark lesson in pre-planning and have put the spotlight on the weaknesses of traditional budgeting and forecasting methods. In this new unstable environment, annual budgets quickly become cumbersome to prepare. Sudden economic […]