MFG Blog from HBK CPA

Artificial Intelligence (AI) entered the mainstream several months ago with the introduction of Large Language Models (LLMs) such as OpenAI’s ChatGPT and Google’s Bard. ChatGPT and Bard have emerged as powerful tools, showcasing the vast potential of AI in transforming the way businesses operate. But what are they, and more importantly, how can your business Continue reading Artificial Intelligence and its Impact on Manufacturers The post Artificial Intelligence and its Impact on Manufacturers appeared first on HBK CPAs & Consultants .

Both bonus depreciation and Section 179 allow taxpayers to take accelerated deductions on the upfront purchase price for the businesses’ fixed asset additions. There are notable differences between the two. Some fixed asset additions may only be eligible for one or the other, or there may be instances where a combination of both can be Continue reading Bonus Depreciation vs Section 179 The post Bonus Depreciation vs Section 179 appeared first on HBK CPAs & Consultants .

As we approach the end of the calendar year, manufacturers should begin their planning processes. This includes planning for tax obligations that may come due in 2023. Join HBK Manufacturing Solutions to discuss tax planning strategies that are important for all manufacturers to consider. Watch on demand. The post Webinar: 2023 Tax Planning Update for Manufacturers appeared first on HBK CPAs & Consultants .

Ohio TechCred is a program that can help Ohio manufacturers and their employees develop new skills in recent technological advances. Manufacturing technology is constantly evolving, and this program allows employers to be reimbursed for their workforce receiving credentials while learning about technological advancements. Employers can be reimbursed up to $2,000 per credential earned, or $30,000 Continue reading Ohio TechCred Application Period is Now Open The post Ohio TechCred Application Period is Now Open appeared first on HBK CPAs & Consultants .

Domestic manufacturers engaged in research and development activities may want to explore how their efforts can align with government needs. Contracting with the government can not only help fulfill these needs but can also provide manufacturers with a source of funding. This prospect is especially appealing to companies specializing in fields such as software, biotechnology, Continue reading Introduction to Government Contracting The post Introduction to Government Contracting appeared first on HBK CPAs & Consultants .

Join HBK Manufacturing Solutions and special guest, Tim Adams, Principal, National Director, State Local Tax, to discuss how state and local taxes affect manufacturers. Tim will lead a discussion regarding Sales/Use Tax, Income Tax, Ohio’s Commercial Activity Tax, and other state and local tax developments, including legislative changes for 2024. Our discussion will assist Continue reading Webinar: State and Local Tax Considerations for Manufacturers The post Webinar: State and Local Tax Considerations for Manufacturers appeared first on HBK CPAs & Consultants .

On the first Friday of each October, Manufacturing Day is celebrated. Formed by The Manufacturing Institute in partnership with the Fabricators Manufacturers Association, the day celebrates the exciting job opportunities the industry can offer, especially due to the industry’s modernization and innovation. While many think of manufacturing as dirty, loud, and highly laborious, the Continue reading Celebrating Manufacturing Day The post Celebrating Manufacturing Day appeared first on HBK CPAs & Consultants .

Though respondents to the National Association of Manufacturers’ (NAM) third quarter 2023 survey reported outlooks less favorable than in the previous quarter’s study, their insights highlight several industry strengths and forecasts to watch as 2023 comes to a close. Business owners in manufacturing facilities of all sizes expressed less concern than previously about the likelihood Continue reading Reflections on National Association of Manufacturers Outlook Survey – Q3 2023 The post Reflections on National Association of Manufacturers Outlook Survey – Q3 2023 appeared first on HBK CPAs & Consultants .

Join HBK Manufacturing Solutions and Special Guests from Arthur J. Gallagher Company to discuss the benefit programs that manufacturers should consider to attract and retain employees. During this webinar, trends among manufacturers will be discussed so that you may help benchmark your business against your competition. Watch on demand. The post Webinar: Attracting and Retaining Manufacturing Employees with Employee Benefit Plans appeared first on HBK CPAs & Consultants .

Join HBK Manufacturing Solutions and Special Guest, Tyler Gargano, CPE, CSF-CCSFP, Director of Advisory Services to discuss how management of manufacturing companies can improve business operations and create efficiencies in a manufacturing environment. Watch on demand. The post Webinar: Improving Business Operations Efficiencies in a Manufacturing Environment appeared first on HBK CPAs & Consultants .