Employer-Provided Disaster Relief & COVID-19

Amid the COVID-19 pandemic, many employers are looking for tax-advantaged ways to help their employees with additional expenses incurred as a result of the pandemic. Section 139 of the Internal Revenue Code provides the answer. On March 13, 2020, President Trump declared COVID-19 a national disaster under the Robert T. Stafford Disaster Relief and Emergency[ … ]

Industry Outlook 2019-2020: Manufacturing

Levels of Optimism: High Key concerns for Arizona manufacturers are supply line disruptions, exchange rates and tariffs for exports. These concerns lead to modest predictions of 2-5 percent growth in 2019. Demand is heigh through 2020, however additional concerns over component obsolescence and retooling costs could require investments in alternative component approvals through 2022. “It[ … ]

Industry Outlook 2018: Manufacturing

The 2018 Arizona CFO Spotlight Survey attracted respondents from a number of industries in Phoenix and Tucson. We will highlight the manufacturing segment here in terms of growth, risk factors, strengths and trends. Just over half of manufacturing companies responding to the CFO Spotlight Survey are in Tucson, with a little over one-third in Phoenix.[ … ]

Industry Outlook: Manufacturing

The 2017 CFO Spotlight Survey attracted respondents from a number of industries in Phoenix and Tucson. We will highlight the manufacturing segment here in terms of growth, risk factors, strengths and trends. Just over half of manufacturing companies responding to the CFO Survey were in Tucson. Two-thirds of CFOs were optimistic about the state of[ … ]

The “manufacturers’ deduction” isn’t just for manufacturers

The Section 199 deduction is intended to encourage domestic manufacturing. In fact, it’s often referred to as the “manufacturers’ deduction.” But this potentially valuable tax break can be used by many other types of businesses besides manufacturing companies. Sec. 199 deduction 101 The Sec. 199 deduction, also called the “domestic production activities deduction,” is 9%[ … ]

Section 166 Deduction: What You Need to Know About Business Bad Debts

Abstract: When customers can’t pay up, it may be possible to deduct these bad debts under Internal Revenue Code (IRC) Section 166. But it’s important to understand what counts as partially or wholly worthless bad debt and how to claim the deduction. This article describes the different types of business bad debt and how the[ … ]