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Reilly Manufacturing Advisor

Understanding the tax ramifications of shareholder loans

Nov 21, 2017

Owners occasionally borrow funds from their businesses, and a shareholder loan can be convenient and low-cost. But it’s important to treat the transaction as a bona fide loan, or the IRS may claim the shareholder received a taxable dividend or compensation payment rather than a loan.

Reilly Manufacturing Advisor

How to maximize the Massachusetts Investment Tax Credit (ITC)

Nov 21, 2017

The Massachusetts Investment Tax Credit (ITC) is a valuable credit for manufacturers, but without careful planning the credit can be minimized or eliminated even if the corporation purchased eligible machinery and equipment.

Reilly Manufacturing Advisor

Advantages of being a Massachusetts manufacturing corporation

Nov 21, 2017

Four state tax incentives afford manufacturers a significant advantage to being located in Massachusetts. But businesses must obtain the state’s manufacturing corporation classification in order to utilize the tax breaks.

Reilly Manufacturing Advisor

Manufacturers can save on labor costs for new hires

Nov 21, 2017

The Massachusetts On-the-Job Training Program (OJT) helps employers reduce the costs of hiring and training new employees.

Reilly Manufacturing Advisor

Massachusetts manufacturers eligible for job creation incentive programs

Nov 21, 2017

Several "Economic Development Incentive Programs" help manufacturers defray the costs of hiring and training workers.

Reilly Manufacturing Advisor

Local tax breaks can help manufacturers offset costs of growth

Nov 21, 2017

Many business owners focus on federal and state tax incentives to help offset the costs of growth. But local tax breaks can also be of help.

Reilly Tax Advisor

Why you should consider accelerating property tax payment into 2017

Nov 14, 2017

Prepaying property tax may be especially beneficial this year, as proposed tax legislation may reduce or eliminate the property tax deduction in 2018.

Reilly Tax Advisor

2017 might be your last chance to hire veterans and claim a tax credit

Nov 08, 2017

With Veterans Day on November 11, it’s a good time to think about the sacrifices veterans have made and how we can support them. One way businesses can support veterans is to hire them. The Work Opportunity tax credit (WOTC) can help businesses do that, but it may not be available after this year.

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