Tax Services
Maximizing tax strategies and incentives
Effective tax planning offers manufacturers and distributors a great opportunity to save money and increase cash flow. Wipfli’s manufacturing tax planning specialists are skilled at assisting with sales and use tax, multistate income and franchise tax, research and development tax credit calculations, inventory accounting methods, international tax issues and more.
Be prepared, wherever you're headed.
Sales and Use Tax (SALT)
It's easy to get lost in ever-changing sales and use tax laws. Each time your company enters a new market, adds additional products or services, or simply the changes the way you conduct business, your state and local tax situation can change, too.
Most manufacturers are knowledgeable about federal taxes, but state and local taxes become much more daunting. Sales and use tax laws are complicated and jurisdictions are many. Company resources are stretched thin, and expertise is hard to find.
Craig Cookle, Partner, is a key expert and leader in Wipfli's state and local tax group.
Don't let a substantial tax credit go unnoticed.
Research and Development Tax Credits
For manufacturers looking for ways to reduce taxes and generate cash flow, finding opportunities for research and development (R&D) tax credits make a lot of sense.
R&D tax credits have been around for over 25 years, yet broadened definitions and tax law revisions may give you the credit you deserve. Today's R&D tax credit applies to a variety of areas for manufacturers, including engineering, quality assurance, maintenance, sales, and information technology. And it's not only a research credit. It's also a process improvement credit.
Whether you are developing new or improved products, or developing new or improved manufacturing processes to produce parts to customer specifications, there's a good chance you're eligible to receive R&D tax credits for activities you do every day. Over the years, Wipfli has helped many manufacturers identify meaningful tax credits. Let Wipfli help you find yours.
For more information, read Real stories, real money: How five manufacturers got their fair share of research and development tax credits.
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