CHIPS Act Offers 25% Credit for Production of Semiconductors

The CHIPS Act offers a tax credit for production of semiconductors related to an investment in an advanced manufacturing facility.

Read CHIPS Act Semiconductors

Related Article: CHIPS and Science Act of 2022 (CHIPS Act)

Considerations When Selling A Manufacturing Business

There are many tax-related implications to consider  when it comes to selling your manufacturing company. Consider how the sale is structures, stock or asset sale, and purchase price, to name a few.

Read Selling A Manufacturing Business

What Small Businesses Need to Know About the Inflation Reduction Act

For the tax year beginning January 1, 2023, small business owners under the new Inflation Reduction Act will be eligible for an additional $250,000 as a payroll credit. Learn if you qualify.

Read Small Businesses and Inflation

Related Article: Energy Tax Breaks from the Inflation Reduction Act

Five Tips to Avoid Manufacturing Site Workers Compensation Claims

For the tax year beginning January 1, 2023, small business owners under the new Inflation Reduction Act will be eligible for an additional $250,000 as a payroll credit. Learn if you qualify.

Read Avoid Worker Compensation Claims

Year-End Tax Strategies - It's Never Too Early to Start Planning

As we near the 4^th quarter of 2022, now is the time for small businesses to embark on some year-end planning.  These four strategies are a great plan to start: QBI deduction, cash vs. accrual accounting, Section 179, and bonus depreciation.

Read Year End Tax Strategies

Related Article: Three Small Business Tax Breaks

Great Place to Work® Names Lumsden McCormick CPAs 

One of the Fortune Best Workplaces in Consulting & Professional Services™ in 2022

Lumsden McCormick was named by Fortune of one of the

Top 50 Best Workplaces in Consulting & Professional Services Firms in the county for 2022. 

Read Firm News