Manufacturing Accounting Firm | Meyers Brothers Kalicka, P.C.

Manufacturing

At MBK, we don’t just understand American innovation, production and precision manufacturing, we wholeheartedly believe in it and support it.

Making It In America

The shift to a global economy has been felt most acutely by American manufacturing companies. Increased competition, escalating regulatory and economic demands, free-trade pressure, outsourcing and product liability issues and other concerns are constantly adding to the complexity of operating a manufacturing business. At the same time, manufacturing remains the backbone of the American economy. Partnering with an accounting firm that understands your industry can help you keep up with changes, reduce costs, operate more efficiently, and stay focused on meeting customer demands and staying competitive in ever-changing business conditions.

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Manufacturing Professional Services

Audits, reviews and compilations

Employee benefit plan audits

State, local and federal taxation

International/multi-national taxation

Cost segregation studies

Research and development credits

Internal controls testing and evaluation

Inventory management and controls

Inventory capitalization rules

Process improvement and cost analysis

Cost management analysis

Cash flow analysis

Mergers and acquisitions

Capital financing

Succession and ownership transition planning

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Manufacturing Accounting Insights

BOI Injunction Lifted

By Katrina Arona • February 19, 2025

The Corporate Transparency Act (CTA) which took effect on January 1, 2024 required "reporting companies" in the United States to disclose information about their beneficial owners to the Treasury Department's Financial Crimes Enforcement Network (FinCEN). In May 2024, a lawsuit was filed claiming that Congress exceeded its authority under the Constitution in passing the CTA. Background: December 3, 2024 in the Texas Top Cop Shop, Inc., et al. v. Merrick Garland, Attorney General of the United States, et al., Judge Amos Mazzant of the United States District Court (Eastern District of Texas/Sherman Division) issued a preliminary nationwide injunction barring the enforcement of the Corporate Transparency Act (CTA). December 23, 2024 the Nationwide Injunction is lifted and filing deadlines are reinstated. Financial Crimes Enforcement Network of the U.S. Department of Treasury (FinCEN) may again enforce the CTA. FinCEN has not extended any filing deadlines. Therefore, all reporting companies should file immediately any beneficial ownership information reports (BOIRs) that were already due, and reporting companies formed prior to 2024 should file their BOIRs by January 13, 2025 (extended from January 1, 2025). December 27, 2024 the federal appeals court on Thursday reinstated a nationwide injuction halting enforcement of beneficial ownership information (BOI) reporting requirements, reversing an order the same court issued earlier this week. FinCEN issued an updated alert on its BOI information page , saying that companies can voluntarily submit BOI reports. February 7, 2025 FinCEN will consider changes to the BOI reporting requirements if a court grants the government's request for a stay of a nationwide injunction in a Texas case, according to a motion filed Wednesday, February 5th. If the stay is granted, FinCEN will extend BOI filing deadlines for 30 days, the government said in its filing in Samantha Smith and Robert Means v. U.S. Department of the Treasury, No. 6:24-CV-336 (E.D. Texas 1/7/25). BOI reporting is currently voluntary, pending further legal developments. Businesses and stakeholders should stay alert for additional updates as the situation evolves. Current Status: February 18, 2025 A federal court lifted the last remaining nationwide injunction stopping BOI reporting requirements. FinCEN which enforces BOI requirements under the CTA said it would extend filing deadline for initial, updated, and/or corrected BOI reports to March 21. However, reporting companies that were previously given a deadline later than March 21 may file their initial BOI report by that later deadline. Resources for consideration: March 21 BOI reporting deadline set; further delay possible BOI Injunction Lifted FinCEN BOI Center

BOI Reporting Update

By Katrina Arona • February 6, 2025

February 7, 2025 FinCEN will consider changes to the BOI reporting requirements if a court grants the government's request for a stay of a nationwide injunction in a Texas case, according to a motion filed Wednesday, February 5th. If the stay is granted, FinCEN will extend BOI filing deadlines for 30 days, the government said in its filing in Samantha Smith and Robert Means v. U.S. Department of the Treasury, No. 6:24-CV-336 (E.D. Texas 1/7/25). BOI reporting is currently voluntary, pending further legal developments. Businesses and stakeholders should stay alert for additional updates as the situation evolves

Underpay your 2023 Taxes? Consider Filing an Amended Tax Return

By Katrina Arona • January 13, 2025

Did you underpay your 2023 taxes? Consider filing an amended tax return.

Real People. Real Stories. Real Results.

"They are outstanding "business partners" -- offer excellent advice and guidance to complicated questions. They are always flexible and available to even answer the most mundane questions that we need advice on."

Sean C. | Governors America Corp. – GAC Mgmt Co.

MBK has provided excellent guidance, advice and tax preparation for 30 years as our business has grown from one small manufacturing operation to one with facilities in 4 states. Whether it is tax return preparation, R&D tax credits, acquisitions, corporate structure, or an audit we have always been well served with Kris and the Meyers Brothers Kalicka team in our corner.

Steve G. | The Toner Group