News by MHCS

Section 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 More

The 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 More

Applying 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 More

Inventory 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 More

Supply 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 More

Balance 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 More

A 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...

Learn More

Figuring Out How 1031 Exchanges Work

Nov 03, 2021

Section 1031 of the U.S. Federal Tax code once was an obscure tax break that deferred taxes on serial real estate deals and other types of investments. Today, a 1031 is a familiar term and strategy fo...

Learn More

Construction: Managing Cost Segregation

Oct 27, 2021

Cost segregation separates buildings into a set of components that may be depreciated over 5, 7 or 15 years rather than the typical 27.5- or 39-year period. By allocating each property-related cost in...

Learn More

The Building Blocks - October 2021

Oct 26, 2021

The latest edition of The Building Blocks is here! In this edition, we cover cost segregation for construction, how ASC 606 may impact your company, how 1031 exchanges can work for you, and an overvie...

Learn More