4Thought Blog

Hiring Strategy for Manufacturing: Enhance Employee Benefits

The labor shortage in the manufacturing sector has been well documented. As of October 2021, the number of workers in the industry had declined by almost 400,000 from pre-pandemic levels. According to the National Association of Manufacturers, nearly 2.1 million manufacturing jobs could be open by 2030. Will this worker shortage adversely affect your manufacturing…

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Nonprofits: How to Land Major Donors to Boost Financial Security

Unlike some fishing enthusiasts, nonprofits don’t usually “throw back” contributions from the small fry in its donor base. Modest donations, after all, add up. But landing some big fish can make a whale of a difference to an organization’s financial security. Unfortunately, major donors don’t usually knock on a charity’s door and hand over millions…

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Could the Work Opportunity Tax Credit Help Your Construction Company?

The construction industry has been facing a labor shortage for years. Although there are various ways to tackle the challenge, one approach to keep in mind is expanding your hiring pool to, in part, avail yourself of a potentially valuable tax break: the Work Opportunity Tax Credit (WOTC). The WOTC is available to employers as…

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IRS Raises Standard Mileage Rate for Second Half of 2022 Due to Rising Gas Costs

The IRS recently announced it will be increasing the standard mileage rate for qualified business drivers for the second half of 2022. The adjustment reflects rising costs at the gas pumps this year. It’s accompanied by a hike in the standard mileage rate for medical expenses for all taxpayers and moving expenses for active-duty military…

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Business Valuation: Valuing Employee Stock Ownership Plans

Employee stock ownership plans (ESOPs) provide tax-saving opportunities for business owners who want to cash out and transfer ownership to employees without immediately giving up control of the business. However, valuing stock held by an ESOP is an ongoing challenge for the fiduciaries who administer them, especially when the sponsoring company is privately held.

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Attract, Retain Employees with New Tax-Deductible Benefits

The labor market is tighter today than it has been in decades, and many employers are going above and beyond the ordinary to attract and retain top talent. One idea for your organization is to sweeten the pot of fringe benefits. A cafeteria plan, for example, allows employers to offer more benefits to employees, generally…

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The Real Estate Investor’s Dilemma: Industrial or Multifamily?

The global events of the past two years have had a profound impact on real estate, from the disruption to office real estate to the rise of secondary markets. In terms of sectors that have seen positive growth, industrial and multifamily have emerged as clear frontrunners. Multifamily owners and investors have benefited from the shift…

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Manufacturers: Get Tax Credits for Hiring Target Group Workers

If your manufacturing company is like many others in the industry, you’re having difficulty finding top-notch new hires to expand your workforce as well as to replace employees who are retiring or quitting. At the same time, you’d like to reduce your tax liability for 2022. Practical solution: Kill two birds with one stone by…

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The Case for Diverse Revenue Streams for Restaurants

A patron speaks with the restaurant host, either to confirm a reservation or ask if there’s a table available. Ideally, the host calls upon a server who then leads the patron to a table and takes their order. It’s a system that worked since the dawn of the U.S. restaurant industry — accounting for 90%…

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6 Common Tax Deductions for Nonprofits with UBIT

Revenue generated by 501(c)(3) organizations is generally exempt from federal income tax. But in some cases, your nonprofit may incur unrelated business income tax (UBIT) on revenue.  The good news is your annual tax return may offer some relief in the form of deductions. The list isn’t as long as the “ordinary and necessary business…

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