News by MHCS
Overwhelmed by Manufacturing Tax Credits
Dec 07, 2021
Tax credits and deductions can allow your company to save money, improve production quality and increase revenue. But with a lot of information available about a variety of programs, it can be difficu...
Learn MoreManaging Tax Rules for Part-Time or Seasonal Help
Dec 02, 2021
As an employer, you normally have to file a quarterly Form 941 to report your employees' wages and withholding. Each quarter, if you pay wages subject to income tax withholding (including withholding...
Learn MoreThe Building Blocks - November 2021
Nov 23, 2021
The latest edition of The Building Blocks is here! In this edition, we discuss compliance changes to carried interests, R&D tax credits for contractors, tax rules for part time and seasonal help, busi...
Learn MoreSection 174 Research Deduction Changes for 2022
Nov 22, 2021
The IRS will require business owners to amortize Section 174 research expenses over multiple years instead of deducting them in the year incurred unless a provision in the Tax Cuts and Jobs Act change...
Learn MoreThe Production Line - November 2021
Nov 18, 2021
The newest edition of The Production Line is here! In this edition, we look at research and development changes for 2022, review business deductions, discuss manufacturing tax credits, and share an ov...
Learn MoreApplying ASC 606 in Construction
Nov 17, 2021
In simple terms, if you're in the business of entering contracts to deliver goods or services to customers, you're affected by the FASB's ASC 606, which provides guidance in recognizing revenue. Altho...
Learn MoreInventory Management: Keys to a Lean Operation
Nov 15, 2021
Longer timelines are often a natural part of manufacturing anything. Unlike ready-made items or services, there are multiple steps — you may spend months sourcing raw materials. You have to make it, b...
Learn MoreSupply Chains and Logistics
Nov 10, 2021
How can my accountant help with supply chain issues?Supply chain management involves controlling the upstream and downstream flow of materials and finances — from sourcing to manufacturing and distrib...
Learn MoreBalance Sheets and Property Profitability
Nov 08, 2021
Owning a real estate business comes with a host of responsibilities, including understanding your balance sheet. A company's balance sheet reports a company's assets, its liabilities and shareholders'...
Learn MoreA Fresh Look at Revenue Management for the Manufacturing Industry
Nov 05, 2021
The survey "The New World of Revenue Management," conducted by the Institute of Management Accountants and cloud enterprise resource planning (ERP) provider FinancialForce, has been making waves acros...
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