News by MHCS

The Production Line - February 2023

Jan 19, 2023

The latest edition of The Production Line is here! In this edition, we discuss continuous improvements to the manufacturing industry, eco-friendly goals for Iowa manufacturers, economic forecast takea...

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The Production Line - January 2023

Jan 19, 2023

The newest edition of The Production Line is here! In this edition, we share information about 2023 trends, Q1 financial checklists, Iowa manufacturers new target, and accounting tips for manufacturer...

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How Manufacturing Fends Off Credit Squeeze

Jan 18, 2023

Don’t be the CFO who says, “I should have zigged when I zagged." Manufacturers can’t afford to wait any longer. For two years, CFOs and controllers have managed supply-chain disruptions, labor shorta...

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Common Tax Deductions for Construction Workers

Jan 12, 2023

Regardless of your trade in the construction industry, allowable tax deductions can lower your tax liability and possibly lead to getting a tax refund. You can deduct common expenses such as tools and...

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Mid-Size Companies Lose $300 Grand to Invoice Scams

Jan 09, 2023

Did you know that many mid-sized businesses lose nearly $300,000 annually in invoice scams? Not only does this hurt your company, it also impacts supplier relationships. Common Invoice Scams As man...

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IRS Publishes 2022-2023 Special Per Diem Rates

Jan 05, 2023

According to Notice 2022-44 from the IRS, various regulations outline the rules for using a per diem rate to substantiate the amount of ordinary and necessary business expenses paid or incurred while ...

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Are You Overpaying for Your Business’ Leases?

Jan 03, 2023

Lease negotiation can be a big undertaking and the results can have a significant impact on your business. Each lease contains complex terms that are subject to change, which must be tracked to main...

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Top 5 Real Estate Accounting Mistakes

Dec 29, 2022

Even if you’re a savvy real estate broker, you might get tricked by some of these accounting mistakes. Not only do these mistakes cause challenges at tax time, but they might also create extra expense...

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Spotting Embedded Leases in Contracts

Dec 27, 2022

It isn’t always easy to identify when you have a lease. Often, leases are embedded into other contracts. Consider the following example: A manufacturing entity contracts with a distribution center to...

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The Building Blocks - December 2022

Dec 27, 2022

The latest edition of The Building Blocks is here! In this edition, we cover how taxes impact bonuses, common tax mistakes construction contractors make, deductions for construction workers, and accou...

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