Manufacturing & Distribution Industry Webinar: Accounting and Tax Update
Wednesday, July 20, 2022
8:30am - 9:30am
Kreischer Miller's Manufacturing & Distribution Industry Group hosted a webinar covering a wide array of topics, including how businesses will be impacted by the new Lease standard going into effect for 2022, as well as the Current Expected Credit Losses (CECL) standard going into effect for 2023. In addition, we addressed potential accounting impacts resulting from the current inflationary market and other factors currently facing the industry.
We also discussed tax planning opportunities for 2022, including tax incentives and accounting method changes. Additionally, we provided an update on upcoming changes to tax law that will impact most manufacturing and distribution businesses.
Lastly, we provided an update on key state income tax issues and current sales tax rules, specifically scenarios outside of physical presence that could create nexus, such as gross sales into a state.
Agenda items included:
- High level overview of upcoming accounting standards impacting the industry
- Ways in which the current environment may impact accounting and tax matters
- Current and upcoming changes to federal and state tax law impacting the industry
- Sales tax rules for manufacturing and distribution businesses
- Tax planning opportunities
Click here to download the slides from the presentation.