Manufacturers and distributors need to have inventory available to ensure a steady flow of goods to producers and consumers. Selling inventory also keeps a steady flow of capital coming into your business. However, handling and storing materials can be costly.
If your business is looking for ways to invest to increase accessibility for employees, customers and visitors with disabilities, there are two tax provisions that can help offset the cost of those expenses.
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The Infrastructure Investment and Jobs Act was signed into law on November 15. While most of the legislation is related to investing in the nation’s infrastructure, there were a couple of tax provisions included in the bill. Here’s what you should know about two of those tax provisions: one affecting businesses and the other affecting brokers of cryptoassets.
If your business or nonprofit used the fully refundable tax credits to cover the cost of COVID-19-related emergency paid sick leave (EPSL) or expanded family and medical leave (EFML) for employees, there are new reporting requirements for W-2 reporting for 2021.
Between supply chain hurdles, labor shortages and the pandemic, it’s hard to turn a profit. That’s why it’s more important than ever to take advantage of every tax saving opportunity available to your business. Let’s look at some key tax credits for manufacturers and distributors.
Business entities that sponsor employee benefit plans, and plan administrators with the responsibility for regulatory compliance of their benefit plans should take note. There are significant changes coming for 2021 employee benefit plan audits that will include new requirements for plan sponsors.