Manufacturing Accountants: Leaders in Financial Efficiency
Helping our clients maximize profitability.
Manufacturing companies are a key component of our national economy. Porte Brown takes pride in turning today's pressures into tomorrow's profits for our manufacturing clients.
Our Manufacturing and Distribution Accounting Practice Group understands the need to develop procedures, build a functional organization, provide solutions to reduce costs, increase efficiency and maximize profitability for our clients. We work to take our manufacturing clients to the next level by leveraging insights we have gained from years of working with companies in the manufacturing and distribution industries.
As a leading manufacturing CPA firm, we firmly believe that success in the manufacturing sector hinges on a comprehensive understanding of the unique challenges a manufacturing business may encounter. It entails adopting a data-based methodology for effectively managing payroll, maintaining a solid grip on finance, and ensuring full compliance with regulatory requirements.
How Manufacturing Accountants Can Help
Accountants throughout the manufacturing sector do much more than look at the numbers. Porte Brown focuses on the bigger picture of your accounting needs, so your business runs successfully. Our experience in the manufacturing industry allows us to share knowledge, best practices, and time-tested tax planning methods that provide a range of benefits for manufacturing businesses.
As your accounting experts, we bring valuable insights that support better business decisions, increase profitability across all aspects of your organization, and lower risks through strategic planning.
With manufacturing company accounting services from Porte Brown, you can save money and get peace of mind. A Porte Brown manufacturing CPA can provide a wide range of services designed for your industry.
The first step to improving your financial processes is choosing a team that understands the manufacturing industry, including distributors and customers. Together, we can create a holistic strategy based on your needs.
Manufacturing Accounting Services
We offer services ranging from one-page compilations to complete audits. Our assurance services ensure your financial statements are in order, so you can obtain funding for your company to pay for real estate, new machinery, and additional hires. You'll receive solid financial reporting with the help of a CPA manufacturing expert from a team that’s advocating for you.
With Porte Brown, you can also trust that no mistakes have been made upon soliciting third-party investments, giving you the peace of mind you need to proceed.
We also provide client cash flow forecasting for the manufacturing industry. Cash flow forecasting for accounting manufacturing ensures you can plan around raw material purchases and payment delays. Better predictive cash flow reports provide you with the tools to plan for the future. As an accounting manufacturing company, we offer tax services that ensure you’ll always meet the standards for tax compliance and take advantage of growth opportunities.
Your numbers also need to consider the fundamental problem of tax. Accounting in manufacturing can be complex, with endless regulations, tax codes, and more at the local, state, and national levels. Porte Brown accounting for manufacturers offers valuable advisory services to make sure you mitigate your taxes through creative tax strategies.
Dig deeper into your organization's financial nuts and bolts with manufacturing accountants. Understanding the impact of your expenses via cost analysis is essential to getting the most from your financial resources. Our accountants can review your direct and indirect costs to determine where savings can be made to improve cash flow and fund the expansion of your operations.
Porte Brown can also advise you on appropriate succession planning for your business estate so you are ready for anything. Planning for the worst is crucial to ensuring smooth business operations and the necessary movements of members of your organization in the event of an untimely change in leadership.
Leave no stone unturned in running your business and determining whether there are areas for improvement with the help of experienced professionals with years of experience in manufacturing and production accounting.
To learn more about how manufacturing accountants can support your business, contact Porte Brown now.
Proud to serve:
- Automotive Fabrication & Supply
- Metal Fabrication
- Plastics & Chemicals
- Industrial Machinery
- Warehousing & Storage
- Wholesale & Distribution
- Textiles
- Electronics
- Food & Beverage
Services include:
- Activity-Based Costing
- Benchmarking
- Audit & Assurance Services
- Budgeting
- Cash Flow Forecasting
- Cost Analysis
- Inventory Management
- Lean Processes
- Resource Allocation
- Value Stream & Process Flow Mapping
- Valuation & Transition Planning
- 1031 Exchanges
- Multi-State Taxation Issues
- R&D Tax Credit Studies
- Sales & Use Tax Analysis
- Accounting Software Implementation
- Facility Cost Segregation Studies
- Percent Complete Consulting
- Qualified Business Income Deduction Calculations
Active industry associations:
Partner with Our Talented Manufacturing CPAs
Reduce your costs and maximize your profitability with tailored manufacturing accounting services and solutions designed for your specific operations. Porte Brown offers everything from intelligent tax strategies to production accounting for manufacturing companies.
Make even the most complex manufacturing operations simple with manufacturing accountants who integrate new technologies, stay on top of the latest regulatory developments, and deliver the personalized service that supports your company in reaching its potential.
Contact us now to learn about the manufacturing CPA services our dedicated manufacturing accountants can offer companies in the manufacturing sector.
Timely Topic:
CHIPS Act Manufacturing Investment Credit
The CHIPS Act provides temporary relief for the manufacturing sector through a new, temporary, tax credit for producing semiconductors. The “advanced manufacturing investment credit” for investments in semiconductor manufacturing property amounts to 25% of qualified investment related to an advanced manufacturing facility. This mean that it applies to facilities primarily manufacturing semiconductors or semiconductor manufacturing equipment. Manufacturers may claim the credit for producing semiconductors or building specialized tooling equipment required in the semiconductor manufacturing process.
Any taxpayer can claim this credit if they are not a “foreign entity of concern” and have not made an “applicable transaction” during the taxable year.
How Is the Credit Calculated?
The CHIPS Act tax credit is equal to 25% of any qualified investment, e.g., the basis of any qualified property, that is part of an advanced manufacturing facility and placed in service by the taxpayer after December 31, 2022. If construction began before January 1, 2023, the CHIPS Act tax credit is only available to the extent of the basis of qualified property attributable to the construction, reconstruction, or erection after the CHIPS Act was enacted on August 9, 2022.
The requirements to be treated as qualified property include:
- Tangible with respect to which depreciation or amortization is allowable
- Constructed, reconstructed, or erected by the taxpayer or acquired by the taxpayer (if the original use of the property commences by the taxpayer)
- Integral to the operation of an advanced manufacturing facility whose primary purpose is manufacturing semiconductors or semiconductor manufacturing equipment. Property is integral to the manufacturing process if it is used directly in the manufacturing operation and is essential to the completeness of the manufacturing operation. A research or storage facility may be considered qualified property if used in connection with the manufacturing of semiconductors or semiconductor manufacturing equipment.
Which Facilities Are Eligible for the CHIPS Act Tax Credit?
The facility’s primary purpose must be to manufacture finished semiconductors or semiconductor manufacturing equipment. This is a facts and circumstances test; however, the proposed regulations do clarify that a facility that manufactures, produces, grows, or extracts materials or chemicals that are supplied to an advanced manufacturing facility that manufactures semiconductors or semiconductor manufacturing equipment, does not meet the primary purpose requirement.
Facts that may indicate a facility has a primary purpose of manufacturing finished semiconductors or manufacturing finished semiconductor manufacturing equipment include:
- Designs or other documents that demonstrate that the facility is designed to make finished semiconductors or finished products consisting of specialized equipment that can only be used for semiconductor manufacturing
- Possession of permits or licenses needed to manufacture finished semiconductors or finished semiconductor manufacturing equipment; and
- Executed contracts to supply finished semiconductor manufacturing equipment to a finished semiconductor manufacturer in place either before or within six months after the facility is placed in service
The Treasury is asking for comments on whether for purposes of the CHIPS Act tax credit, the definition of “semiconductor” should include semiconductive substances on which an electronic device or system is manufactured, e.g., polysilicon and compound semiconductor wafers.
What Is the Direct Pay Option?
Eligible taxpayers may elect to treat the CHIPS Act tax credit as a payment against their federal income tax equal to the credit amount, even if the taxpayer has zero tax liability, effectively resulting in a refundable credit.
Next step:
Please submit the form below if you have questions about our services or would like to request a proposal. Someone from the Porte Brown team will contact you as soon as possible. You can also call us directly at 847-956-1040.
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