Manufacturing & Distribution
We love to work with people who make and move things. Manufacturers and distributors drive our economy. They also have unique business and tax opportunities that Honkamp can help uncover. Advances in technology rapidly change the way that manufacturers and distributors do business, and staying ahead of the curve is paramount.
At Honkamp, our manufacturing and distribution team has vast industry experience, positioning us to be a major asset to your business.
We focus on the following important issues for manufacturers and distributors:
- Delivering accurate monthly accounting and bookkeeping services so you know where you stand financially
- Providing valuable insights through financial statement trending and benchmarking analyses
- Being proactive and strategic with tax planning and preparation, including consideration of cost segregation, bonus depreciation and research and development credits
- Assisting with inventory costing to ensure pricing strategies capture the full cost of production and distribution to protect company margins
- Sorting through confusing sales and use tax issues, especially with multi-state involvement
- Recouping lucrative, timely business and expansion tax credits often left on the table
- Understanding nexus issues when shipping to other states
- Assisting with sales tax exemptions for costs incurred in the manufacturing process
- Guiding you through international tax planning, including the establishment of an Interest Charge Domestic International Sales Corporation (IC-DISC)
- Planning for the sale or transition of ownership of the business, including business valuation and business transition services
- Assisting with evaluating economic incentives -- such as tax credits and tax-increment financing -- as your business relocates or expands into new regions
- Offering a beneficial retirement plan
- Choosing and implementing the best software/technology
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