Inventory management goes beyond simple tracking; it’s about optimizing costs and maximizing resource efficiency. For manufacturers, recognizing the hidden costs…
My CPA says, ‘extend.’What does that mean to me?
*The federal filing deadline for 2024 individual returns will be April 15, 2025. The extension deadline for those returns is…
Do You Need a Trust?
CPAs often emphasize the tax benefits of trusts. Trusts can help minimize estate taxes and, in some cases, income taxes….
Illinois Sales and Use Tax on Leased Tangible Personal Property
The Illinois Sales and Use Tax on leased tangible personal property, effective January 1, 2025, introduces new requirements for lessors…
263A: Navigating Simplified Methods and UNICAP Compliance
What is UNICAP? This is a continuation of my last article What is UNICAP? Section 263A Explained. 263A (also…
Dissecting the Skilled Labor Shortages Facing the Manufacturing Industry
Overview As a pivotal part of the global economy, the manufacturing industry is essential for fostering innovation, job creation, and…
