Manufacturing
Jobs will open as Baby Boomers retire
Based on statistics, at least 83 million Baby Boomers will begin retiring in the next three to five years. While many are delaying retirement as their savings have diminished in the current economy, millions will be retiring soon. This is predicted to have serious consequences in the labor force, leaving businesses with fewer people to fill positions than they have positions available. (6/22/2009)
Cost segregation worth a look
It is probably one of the most effective – and misunderstood – tax-saving tools in your accountant’s toolbox. It is a cost segregation study. And tax experts generally agree that these studies, which affect both rental residential and commercial properties, are worth the time, effort and cost typically associated with them. But before you pick up the phone to call your accountant, you should know that cost segregation studies are not for every business, and circumstances vary in which a business benefits from this unique money-saving analysis.
(6/8/2009)
R&D tax credit still available, may save you tax
The Research and Development (R&D) tax credit is like the mythological phoenix. It regularly expires, only to be resurrected over and over again. The credit came into being in 1981. For more than a quarter of a century, this tax benefit has eluded many small and mid-sized businesses. For one thing, Congress has never found the budgetary resources to make the credit permanent. The perennial short-term nature of the credit makes it difficult for some businesses to invest in the record-keeping resources necessary to support the complex credit calculations. But after more than 30 years, perhaps it is time for your business to consider the fact that the R&D credit is as permanent as any other tax provision. (5/25/2009)
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The technical information here is necessarily brief. No final conclusion on these topics should be drawn without further review and consultation. Please be advised that, based on current IRS rules and standards, the advice contained herein is not intended to be used, nor can it be used, for the avoidance of any tax penalty assessed by the IRS.