While human-level artificial intelligence is still a long way off, the increased use of robots to automate manufacturing processes has become the norm. Increasingly, manufacturing companies of all sizes have become roboticized in pursuit of time...
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Manufacturers everywhere have a common charter to boost profits and increase market share. Some tried-and-true strategies to keep up with the competition include process automation, data-driven marketing, and smart inventory management.
To stay competitive in the manufacturing industry, it’s essential to make smart and fast decisions on a variety of industry-specific needs, such as forecasting production downtime. However, U.S. manufacturers fall behind their international...
Recently, the Financial Accounting Standards Board issued an update that will significantly change the way in which lessees and lessors account for leases. The change, which takes effect in 2020, will require businesses to recognize lease assets...
For many organizations, taking the research and development (R&D) tax credit means identifying a hidden source of cash in addition to minimizing their tax liability. If you reviewed the R&D tax credit in the past and determined you would not receive...
An accountable plan allowance is an arrangement whereby the employer pays an employee a fixed amount or a formula based amount of money to be used for employment-related expenses. The employee must account for how the money is used. All or a portion...
Chuck Runyon, my friend and a founder of Anytime Fitness, has the following on the wall in his office:
IRS has issued a statement indicating that criminals gained unauthorized access to information on approximately 100,000 tax accounts through IRS’s “Get Transcript” application. The data included taxpayers’ Social Security information, date of...
The IRS recently released Notice 2015-13, which provides transition relief for employers to comply with the paperwork requirements necessary to claim the Work Opportunity Tax Credit (WOTC).
If you can get your children to work for your business or work around the house, start paying them.
