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6 Reasons Why Manufacturers Should Embrace ‘Lean’ Accounting

6 Reasons Why Manufacturers Should Embrace ‘Lean’ Accounting

Most American manufacturers are embracing lean manufacturing philosophies to one 6 reasons lean accounting manufacturingdegree or another. Some organizations do it to improve operationally while others are forced into it by their customers. From improved on-time deliveries to reduced costs, implementing lean practices can yield tremendous results.

While many associate lean with the shop floor and systems like Kanban with just-in-time deliveries to the line, lean should impact every part of an organization, including accounting.  read more…

IRS Issues Guidance on Tax Withholding

IRS Issues Guidance on Tax Withholding

 

The IRS recently issued guidance on tax withholding for the coming year. The redesign irs-logo-sm-1of the W-4 has been tabled until 2020 after the proposed form met with heavy criticism from groups like the American Society of CPAs. The W-4 for 2019 will be essentially the same as the 2018 with the exception of changes to the “withholding allowance” terminology used in the Tax Cuts and Jobs Act (TCJA.)

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Since 1938, Zinner has counseled individuals and businesses from start-up to succession. At Zinner, we strive to ensure we understand your business and recognize threats that could impact your financial situation.
IRS Announces Inflation-Adjusted Standard Deduction Amounts for 2020

The IRS issued its annual inflation adjustments for key tax items for the tax year 2020. Among them are new amounts for standard deductions. For the tax year 2020, the standard deduction for a married couple filing jointly will be raised from $24,400 to 24,800. For...

IRS Announces New Contribution Limits for FSAs

The IRS has announced that the contribution limits for Flexible Spending Accounts (FSA) contribution limits have been increased to $2750 for the plan year beginning 2020. The limit is being raised from the 2019 limit by $50.  If you have any questions regarding...

IRS Announces New Retirement Plan Limits for 2020

The IRS has released the retirement contribution limits for the 2020 tax year. The new limits are adjusted based on increases in the cost of living.     2020 2019 401(k), 403(b), 457(b) deferral limits $19,500 $19,000 401(k), 403(b) catch-up deferral limits...

Partial Business Use of Autos – What is Deductible?

Posted by: Barbara Theofilos, CPA Many taxpayers use a business vehicle for personal uses. This is an acceptable practice, although it is important to understand the basic rules that apply to the deductibility of expenses related to the vehicle. Taxpayers who use a...

Important Tax Dates and Deadlines for 2020

2020 is almost here, and some important tax-related deadlines will be here with it. Be sure to plan well in advance of these dates to ensure you have sufficient time to plan and prepare to file your 2019 taxes.  Here is a quick list of important tax dates for you...

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