Manufacturing and Distribution

Helping to Optimize Your Bottom Line

 

MichaelSilver serves the unique needs of manufacturing and distribution businesses. We address the financial and tax requirements of a broad range of manufacturing and distribution entities. We are trusted to maintain the highest quality standards in our compliance work, while we strive to exceed our clients’ expectations by focusing on bottom line results, strategic planning, and asset protection. Services include:

Tax Consulting and Compliance

Manufacturing and distribution entities face many tax challenges and opportunities.

Why MichaelSilver? Because we provide proactive rather than reactive advice and guidance: keeping you informed regarding the latest tax legislative changes, which enhances our ability to plan for the effects of those changes. We will help you minimize your company’s tax burden, and maximize available tax credits and special deductions.

In addition to completing all of the necessary tax returns and managing other compliance requirements, our real value lies in our tax planning and consulting services, which include:

  • Annual and long-term income tax planning, for business entities, their stakeholders and families
  • Complex income tax issues, such as optimizing inventory capitalization calculations and analyses of potential tax benefits from implementation of LIFO inventory
  • Leveraging various federal, state and local tax credits and incentives, including credits for Research and Development and special deductions
  • Providing highly-effective depreciation strategies, such as use of cost segregation studies on major capital improvements, building acquisitions and new construction, and optimizing available depreciation choices
  • Multi-state issues, such as separate determination of nexus for income and sales tax purposes, and planning associated with opening new facilities in other regions or states
  • Navigating complex sales tax issues faced by manufacturers and distributors, including Sales tax compliance assessments
  • Corporate consolidation and restructuring strategies, dividend payouts, and earnings and profits issues
  • Navigating tax and reporting pitfalls resulting from foreign affiliations, including vendors, customers, owners and subsidiaries, including intercompany transfer pricing issues
  • Representation at federal and state income and sales tax audits, and penalty relief through use of voluntary disclosure and amnesty programs
  • Estate, Gift, and Trust Services for individual owners and/or family businesses

Accounting and Assurance

Our team of accounting and assurance professionals provides the interim and year-end compliance and financial statement services specific to manufacturing and distribution entities. We work with your in-house staff to provide guidance and advice on how to prepare for a financial statement engagement.

We also have experience addressing the expectations of traditional lenders, mezzanine finance entities, and other capital lenders, in the effort to provide them with the high quality financial statements they require and expect. We utilize our extensive knowledge, experience, and technology to streamline the process of financial reporting, efficiently and effectively. Our services include:

  • Audits, Reviews, and Compilations
  • Non-financial statement engagements, including agreed-upon procedures
  • Financial statement requirements for 401(k) plan or other employee benefit plans
  • Assistance with the preparation of LIFO calculations and related information necessary for producing proper GAAP financial statements
  • Understanding asset impairment, as it relates to GAAP financial statements
  • Assisting with monthly closing procedures
  • Expense analyses and containment

Other Tailored Value-Added Services

We can deliver other value-added services specifically tailored to manufacturers and distributors, including:

  • Inventory control issues and costing assessments
  • Internal controls evaluation and analysis
  • Salary, commission, bonus consulting and incentive compensation planning
  • Payroll issues, employee benefits and retirement plans
  • Union negotiation assistance
  • Business acquisition and sales
  • Succession planning
  • Valuation Services
  • Real estate analysis for related business property
  • Profit analyses for potential major equipment purchases, including breakeven analysis
  • Buy or lease comparisons for equipment needs
  • Analyses of outsourcing options for manufacturing or other functions
    – Budgeting, forecasts and projections
    – Cash flow management
    – Performance management and benchmarking
    – Accounting systems analysis and betterment planning
    – Assistance with bank financing

Keeping you informed on tax legislative changes
enhancesour ability to plan for the effects of
those changes.

Mark DeVience

Mark DeVience

CPA, Partner

Janell Wilson

Janell Wilson

CPA, Partner

Resource Article

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