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Category: Manufacturing

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May 12, 2023
Is Your Manufacturing Company Eligible for Clean Energy Tax Credits?

The Inflation Reduction Act (IRA), enacted in late 2022, provides valuable tax credits that support clean energy manufacturing. Significantly, the law created the Advanced Manufacturing Production Tax Credit (45X MPTC), which is an incentive for producing clean energy compon...

March 26, 2020
Essential Manufacturing in Business under Minnesota’s Stay At Home Order for COVID-19

Manufacturing is essential to Minnesota and the country and many manufacturing businesses will be exempt from Minnesota new law that goes into effect March 27, 2020....

March 26, 2020
6 Things To Do Now That COVID-19 Has Disrupted Your Manufacturing Business

The coronavirus has disrupted the manufacturing business. Here are six things that you can do. Number one - remind your team how important they are to you and your manufacturing team. Number two - spend time nurturing your client relationships....

November 20, 2019
Bridging The Gap Between Budgeting And Risk Management

At many companies, a wide gap exists between the budgeting process and risk management. Failing to consider major threats could leave you vulnerable to high-impact hits to your budget if one or more of these dangers materialize. Here are some common types of risks to researc...

November 6, 2019
Is Multicloud Computing Right For Your Business?

Cloud computing — storing data and accessing apps via the Internet — has been widely adopted by businesses across industry and size. Like many technological advances, though, new derivatives continue to emerge — including so-called multicloud computing. ...

October 21, 2019
Putting the Brakes on Lapping Schemes

Lapping schemes are one of the most common ways crooked employees skim money from their employers. In these schemes, a perpetrator uses receipts from one account to cover theft from another. Here’s what lapping looks like and how you can help prevent it....

September 19, 2019
How to Research a Business Customer’s Creditworthiness

Extending credit to business customers can be an effective way to build goodwill and nurture long-term buyers. But if you extend customer credit, it also brings sizable financial risk to your business, as cash flow could grind to a halt if these customers don’t make their ...

September 13, 2019
MN Tax Law Conformity Bill – What You Need to Know

The Minnesota Legislature recently passed a tax bill that conforms or partially conforms several Minnesota tax laws to changes made under prior Federal tax bills. Below is a link to a listing provided by the Minnesota Society of CPAs (MNCPA) of the items that now conform or...

September 13, 2019
Start Your Strategic Planning Early for Best Results

Time flies when you’re having fun — and running a business. Although it’s probably too early to start chilling a bottle of bubbly for New Year’s Eve, it’s certainly not too early for business owners to start doing some strategic planning for next year. Here are som...

September 3, 2019
Understanding the Fraud Triangle

Fraud experts have long suggested that the presence of three conditions, known as the “fraud triangle,” greatly increases the likelihood that an employee will commit fraud. Over the years, this conceptual framework has been expanded to become a “fraud diamond.” Under...

August 27, 2019
Shedding Some Light on Business Credits for Solar Energy Property

We all know that solar energy can save you money on future energy costs. But did you also know that there is a federal Solar Investment Tax Credit (ITC) of up to 30% of the total cost of the energy property? The energy property must meet performance and quality standards, mu...

August 15, 2019
Early Revenue Recognition Fraud

Early revenue recognition has long accounted for a substantial portion of financial statement fraud. By recording revenue early, a dishonest business seller or an employee under pressure to meet financial benchmarks can significantly distort profits. Fortunately, fraud exper...