The Production Line – financial information for your manufacturing and distribution company.
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Section 174 Research Deduction Changes for 2022

Have you been deducting your R&D expenses as they occur? Starting in the new year, that's off the table. You will have to amortize them over multiple years. Click through for an overview of the new Sec. 174 rules.

Business Deductions: A Quick Review

Business expenses are the cost of carrying on a trade or business. Sometimes, the IRS gives you a tax break for your expenses. Click through for an introduction to the complex world of business tax deductions.

Overwhelmed by Manufacturing Tax Credits

There are many provisions that specifically apply to manufacturing businesses, but information can be complicated and difficult to navigate. Click through to find out what you can do today to get special tax credits and deductions for your operations.

Figuring Out Your Business Taxes

Taxes aren't just for people, they're also for businesses. Do you know which business taxes you'll need to pay? Click through for an introduction to what your company owes the IRS.

MHCS Manufacturing
McGowen Hurst Clark Smith
1601 West Lakes Parkway, Suite 300
West Des Moines, IA 50266
Phone: 515-288-3279
Fax: 515-280-1490
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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