The Exuberant Accountant - Scott Heintzelman

Manufacturers: R&D (Research & Development) Tax Credit

Have you invested time or money in Design, Development, Improvement of Products, Formulas, Processes, or LEAN Techniques? Then you may qualify for the tax benefits from the Research & Development Tax Credit! 

 

McKonly & Asbury is partnering with MANTEC and alliantgroup to provide a seminar focused on Manufacturers.  The Research & Development credit is seldom used, but widely available and some recent changes by Congress has dramatically expanded its eligibility.

 

This should be great training with examples and case studies to provide better insight into how it could apply to your business.  The course will also provide a federal and state tax update with special focus on current and proposed tax legislation impacting manufacturers.

 

This is an excellent update for CEO’s and CFO’s will be held in York on Tuesday, March 30th from 8:00 am to 10:30 am.

 

If you would like information about attending, please click this link or you can contact me.

Supply Chain Management: Invest in Your Suppliers

Lean manufacturing is a term that has gained great exposure during the last 10 years. If you know about Lean, you’ve probably heard about reducing waste of all kinds on factory floors through improved processing efficiencies. What you may not know is that Lean philosophy can be applied to other parts of your operations as well as Supply Chain Management.

A Supply Chain review is a great opportunity to dispose of waste and make processes more efficient. Even if you have a “Leaned Out” factory floor, the Supply Chain provides numerous opportunities for improvement.

Manufacturing Sales by Creating Uncontested Market Space

In the second McKonomics Podcast, I interview John Lloyd, President and CEO of MANTEC who discusses why the manufacturing sector plays such a big part in our economy and get some tips on what best practices manufacturers can implement to improve performance.  Click here to learn more about Manufacturing Sales by Creating Uncontested Market Space.

The McKonomics Podcast Series will continue in coming weeks with an in-depth look at the Construction industry. Stay tuned as I plan to interview other experts in the fields that impact our economy the most.

LIFO Inventory: At Risk to be Repealed

I work with numerous manufacturing and distribution companies and several of them use LIFO (last in first out) to value inventory.  President Obama's 2010 Budget lists the repeal of LIFO starting in 2012 as a possible source of funding to finance his proposed universal health care legislation.

Recently the LIFO Coalition members met with members of the Senate Finance Committee and/or their aides and they have expressed the possibility of the repeal of LIFO to be very real.

Operational Excellence: Best Practices (Supply Chain Management)

A common theme I continue to hear from the business community is “we need to do more with less.”  Everyone is looking for an advantage or an edge in business.  Recently I wrote about Lean Manufacturing and Supply Chain Management and received an outstanding response. Our firm, McKonly & Asbury, is partnering with Dr. Robert O. Neidigh from the Department of Finance & Supply Chain Management at The John L. Grove College of Business of Shippensburg University.  Dr. Neidigh is helping us and our clients learn more about maximizing operational performance. Together, we have developed a process/questionnaire in an effort to assess an organization’s health as it relates to:

Manufacturing in a Lean, Flat World

A lot of the family-owned businesses I work with are manufacturers or distributors.  Whether they make corrugated boxes or custom cabinets, the issues they face are very similar. 

As customers become more demanding, there is increasing pressure on smaller manufacturers to provide greater quality, flexibility, access and value – while lowering costs. In many industries, suppliers are routinely asked to establish a “factory within a factory” – i.e. to supply parts and manage material handling and inventory for their customers. This is a “best practice” adopted from the snack food industry, in which “rack jobbers” have restocked shelves at supermarkets and convenience stores for decades.