In the highly competitive and evolving manufacturing and distribution sector, optimization of systems and operations throughout a business is an absolute necessity. Successful companies understand that staying ahead of the curve means integrating leading-edge technologies, financial processes and operational solutions throughout their enterprise. Companies that fear change, or are slow to react to it, invariably fall behind.
At Goldin Peiser & Peiser, our manufacturing and distribution CPAs and consultants work with leading companies locally, regionally, nationally and internationally to plan for change, harness it and leverage it for long-term success. Many of our practice advisors are manufacturing industry veterans. Through their broad experience, insight and personal touch, they can help your manufacturing and distribution business define its unique tax and financial strategy; optimize tax, financial and accounting systems; operate more effectively and efficiently, and accommodate changes at every turn both in the U.S. and abroad. Our Manufacturing and Distribution Accounting Services will help you:
Manage your manufacturing business
- International operations support
- Inventory analysis
- Bank relationship management
Protect your manufacturing business
- Forensic accounting for manufacturers
- Litigation support for manufacturers
- Transfer pricing for manufacturers
Optimize your manufacturing business
- Tax planning for manufacturers
- Internal controls assessments for manufacturers
- Financial and strategic assessments
- International tax planning for manufacturers
- Business valuation
- Mergers and acquisitions support
Whether you have a foreign manufacturing company looking to do business in the U.S. or a U.S. business looking to expand overseas, Goldin Peiser & Peiser has the vast experience and knowledge base to help. Our manufacturing accountants and consultants have worked with clients on international tax issues and planning in setting up foreign business operations overseas. We also have the international resources to help foreign entities establish operations in the U.S.
Read our frequently asked questions below for specific manufacturing topics that pertain to your current or future operations.
Frequently Asked Manufacturing Accounting Questions
- How Do I Decide Whether to Buy or Lease Manufacturing Equipment?
- How Does Sales and Use Tax Affect Manufacturers?
- Why is Succession Planning Important to a Manufacturer’s Long-Term Success?
- Which Costing Method Will Help Me Achieve My Profit Margin?
- How Can the Right Inventory Valuation Method Help Me Manage My Business?
- As a Multinational Company, How Can I Avoid Transfer Pricing Penalties?
- What is the Texas Manufacturing Sales Tax Exemption?
- How Do State and Local Taxes Affect Cross-Border Distributions?
- Why is Due Diligence Essential to the Sale of a Manufacturing Business?
Every manufacturer strives to achieve the most cost-efficient operations, and equipment weighs heavily in the equation. So, does it make more sense to lease or buy machinery and tools? You guessed it—it all depends.
For the full answer, read: Should You Buy or Lease Manufacturing Equipment?
Sales and use tax play an integral role in a manufacturer’s overall tax planning strategy. When weighing decisions about the products and services you purchase, as well as those you sell to customers, a smart approach to sales and use tax can affect your profitability and reduce your exposure for timely audits and costly penalties.
For the full answer, read: Sales and Use Tax Considerations for Manufacturers
As you think about the longevity of your manufacturing company, you may not have given any thought to a succession plan…. A succession plan doesn’t mean that you are ending your involvement in the company. Rather, think of it as a series of events that occurs over time.
For the full answer, read: Four Succession Planning Considerations for Manufacturers
As a manufacturer, you want to achieve or exceed your set profit margin. Once you determine the best product mix, how should you price your products accordingly? With material and labor costs both essential parts of the equation, it is critical to determine the right costing method to help you achieve profitability.
For the full answer, read: What are the Best Cost Accounting Methods for Manufacturers?
Inventory drives your manufacturing operation, yet for many manufacturers it can be one of the most complex areas of financial reporting. For example, what is involved in inventory valuation and which methods should you consider?
For the full answer, read: What are the Best Inventory Valuation Methods for Manufacturers?
As U.S. manufacturers increasingly conduct business overseas, the way in which related parties of a company charge one another for goods and services continues to be a top audit issue for the IRS and other tax authorities. It should also be a priority for all multinational companies to follow transfer pricing rules to avoid being subject to steep penalties.
For the full answer, read: A Closer Look at Transfer Pricing Examination Process
According to the Texas tax code, sales and use tax exemptions apply to personal property that becomes a component of an item manufactured for sale—and any taxable services that make an item more marketable. But what exactly is exempt, and what is not?
For the full answer, read: Does Your Business Qualify for the Texas Manufacturing Sales Tax Exemption?
Distributors – especially those planning to expand their operations across state borders – must have a firm understanding of how state and local taxes (SALT) factor into their overall growth objectives.
For the full answer, read: State and Local Tax Considerations for Cross-Border Distributors
Selling a business can be a complex process, taking you and other key personnel away from the daily operations of your business. You want to maximize the return on everything you have invested in your business, so it’s important to understand what the process includes and what the potential buyer needs.
For the full answer, read: What Every Manufacturer Should Know About Sell-Side Due Diligence?
For more information about our Manufacturing and Distribution Services, or to speak with one of our manufacturing accountants, please fill out the form below, or call 214-635-2498.