Manufacturers face pressure to be efficient. As global competition in the manufacturing space continues to accelerate, many in the industry are looking for every opportunity to streamline cost. Mark Baricos, Managing Director at CBIZ & MHM Memphis, wrote an article discussing three key elements that should be considered in evaluating a well-defined tax strategy.
Recent changes to tax provisions now offer additional opportunities to minimize tax burden. Passed in December 2015, the Protecting Americans against Tax Hikes (PATH) Act makes permanent several tax deductions that previously had to be renewed each year and includes longer-term extensions of others.
In the article, Mark outlines three ways manufacturers can take advantage of these PATH act changes. Manufacturers that operate internationally should take particular note of the Act’s extension of several tax reduction opportunities for conducting business abroad. The legislation could mean the chance to lower a company’s overall effective tax rate, bringing significant benefits to operations.
For the full article on our CBIZ Insights & Resources, click here.
To discuss what the PATH Act means to your business, contact Mark at 901.685.5575 or firstname.lastname@example.org.