If you’re a manufacturer, optimizing your business tax credit is key to maintaining good financial health. In general, tax credits are more valuable than tax deductions. Why? Because a credit reduces the company’s overall tax liability on a dollar-for-dollar basis, whereas a tax deduction only reduces the business’ taxable income. Appropriately using both, of course, […]
Manufacturing & Distribution
2022 gave us the Inflation Reduction Act (IRA) which provides valuable tax credits for companies that support clean energy manufacturing. Though the funding is limited, any eligible manufacturers can apply for this credit if they purchase property to re-equip, expand, or establish facilities in relation to clean energy. Most notably, the Act Of course, there […]