Manufacturing Day Recap
Insights for Business Growth and Protection
As manufacturers and distributors know all too well, running a successful operation isn’ t just about the production floor anymore. That’ s why we gathered some of the sharpest minds in finance, tax, cybersecurity, and technology to share practical wisdom our clients can put to work immediately. Here’ s what you missed if you couldn’ t join us for the event in our Dublin office on March 13.
Mastering Cash Flow: The Lifeblood of Manufacturing
Presented by: Ryan Brickwood and Mindy Gallman
Cash flow management remains fundamental for manufacturing businesses. The presentation highlighted the importance of clearly defining operating, investing, and financing activities while emphasizing regular monitoring of receivables and payables to prevent cash flow shortages.
Several key areas likely to see changes include the State and Local Tax( SALT) cap, Research and Development( R & D) amortization, and the 199A pass-through deduction. The federal fiscal outlook has shifted dramatically since 2017, with the debt-to-Gross Domestic Product( GDP) ratio now reaching 101 percent.
Manufacturers and Distributors should also be aware of the Corporate Transparency Act( CTA) requirements, which have experienced shifting deadlines and enforcement parameters. Staying informed about these changes through your trusted Rea advisors can help you prepare effectively for any tax reform impacts.
For manufacturers working with progress billings, planning for unexpected expenses is particularly crucial. Tracking total liquidity, including both available cash and line of credit availability, provides a more comprehensive picture of your financial position.
One practical tip: Compare your forecasts to actual results regularly. This practice allows you to find potential issues before they become critical problems and make necessary adjustments to your operations or financial planning.
Tax Legislation: Preparing for Change
Presented by: Kaitlyn Robison
The upcoming tax landscape presents significant considerations for manufacturers. Current discussions in Washington center around the expiring provisions of the 2017 Tax Cuts and Jobs Act( TCJA), with ongoing debate between a“ one big bill” versus“ two bills” approach to reform.
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