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COMPANY PROFILE

Clayton & McKervey

www.claytonmckervey.com
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  • Member Since 2016
  • Robotic Consultant

Clayton & McKervey is a full-service CPA firm servicing middle-market, growth-driven clients expanding both within and outside of the U.S. Headquartered in metro Detroit, the firm provides tax, accounting, assurance and business advisory services to clients in more than a dozen industries. Clayton & McKervey provides everything you'd expect from a public accounting firm and much more. We are both capable & proactive in our approach to business. Our clients credit us for being: * Talented & Accessible * Specialized & Customized * Diligent & Collaborative Founded in 1953, we have built a reputation for providing value to entrepreneurial companies. Let us know if we can help. To learn more about Clayton & McKervey, visit claytonmckervey.com.

Editorials

Considering Expanding to Mexico? Learn the Impacts of Taxes and Personnel Expenses

POSTED: 12/03/2019

In our previous updates, we’ve reviewed two main types of taxes and related costs which may influence timing when expanding to Mexico.  These include: All the taxes related to the fixed assets needed for the operation Taxes which will be present in the day-to-day Mexican operations Let’s examine the taxes that are part

Industry 4.0: It’s Not Just for Manufacturers!

POSTED: 11/25/2019

The term Industry 4.0 conjures up images of the high tech factories filled with connected robots performing work previously performed by people.  However, the technologies that are enabling this transformation are not just confined to the plant floor. They are being used throughout organizations to drive efficiency and improve operational

Doing Business in the US: Challenges and Experiences of European Companies

POSTED: 11/07/2019

European companies open branches in the United States for a host of reasons. For starters, the US gives these businesses a completely new base of customers; a chance to step out from the almost saturated European market and stand out from the crowd. Secondly, there are many government incentives in

Revenue Recognition Changes for Professional Service Companies

POSTED: 10/22/2019

It’s here! The Financial Accounting Standards Board’s (FASB) new revenue recognition standard, ASC 606, is now in effect for private companies with annual reporting periods beginning after December 15, 2018. While many professional service companies have completed their analyses and made updates to track data in accordance with the new standard, some are

Wayfair: A Year Later

POSTED: 10/02/2019

It’s been over a year since the US Supreme Court’s ruling in South Dakota v Wayfair[1]overturned the long-standing physical presence standard for imposing a sales and use tax collection responsibility.  Wayfair overturned the requirement for a physical presence in a state that was established in the 1992 case, Quill Corporation v North

Expanding from the U.S. to Mexico

POSTED: 09/27/2019

What are the most important elements in expanding your business into Mexico successfully? Preparation and planning. For U.S. businesses wanting to expand south of the border, we use the experience we’ve gained helping other businesses expand into Mexico to help determine your best course of action. What do most clients

I Bought the Building, So Now What?

POSTED: 08/22/2019

Many business owners “do the math” and determine that it makes financial sense to buy the building(s) in which they operate the business, instead of continuing to rent.  Generally the analysis they perform to make this decision is focused on real estate prices, current rental and interest rates, and the

Considering a Merger or Acquisition?

POSTED: 08/02/2019

Ensure your understanding of the new tax regulations to get the most return out of your investment! Under the Tax Cuts and Jobs Act (TCJA), businesses have been impacted in multiple ways. In particular, businesses considering a transaction, such as a merger or acquisition, should be sure to discuss the following: Depreciation How

Benefit for Exports: Foreign Derived Intangible Income Deduction

POSTED: 07/16/2019

The 2017 Tax Cuts and Jobs Act (TCJA) has made C-Corporation status much more attractive to business owners, and the 21% flat tax rate has caused many to consider whether converting to a C-Corporation may be worth the switch. For some, however, the administrative burdens that come with incorporating don’t

In the Industry 4.0 era, here are 5 common GAAP violations impacting the financial performance of advanced manufacturers

POSTED: 06/19/2019

Southfield, Mich. — While the manufacturing sector rapidly evolves to adapt to new and diverse Industry 4.0 technologies such as robotics and artificial intelligence, many companies are unaware that oversights in their accounting reporting may be costing their bottom lines.  According to Kevin Johns, CPA and shareholder with Clayton &

Common GAAP Violations for Manufacturers

POSTED: 06/06/2019

Across the manufacturing sector, there is a great amount of diverse strategies, footprints, and segment approaches as they deal with artificial intelligence augmented reality, and the ever-increasing spread of robotics.  From an accounting standpoint, the one thing that often unites these companies together is GAAP (Generally Accepted Accounting Principles), which provides the

Now is the Time to Prepare for Next Year’s Taxes

POSTED: 05/15/2019

This year marked the first of many under the new tax regime set in motion by the Tax Cuts and Jobs Act. Now that you have one year of experience under your belt, you can pivot your strategies to optimize your tax positions under the new legislation. Let’s walk through

Vigilance Helps Defend Cyber Attacks

POSTED: 04/08/2019

Situations You’ll Want to Avoid You have undoubtedly heard it before:  When it comes to opening emails, clicking links, and browsing – – “Be vigilant.”  But why? In short, because not only are cyber security breaches in the news on the rise, but because issues are already happening at our clients. 

Considering Doing Business in Mexico

POSTED: 09/18/2018

It is not uncommon for US businesses, large and small, to unintentionally make decisions which impact the business for years to come. Before expanding to Mexico, companies should be aware of the following tax and financial statement considerations: 1. Permanent Establishment Even if a company does not have a physical presence

Estate Planning After Tax Reform

POSTED: 09/18/2018

As many are aware by now, the Tax Cuts and Jobs Act (TCJA) that was passed into law this past December has had a significant impact on many different areas of tax law. Estate and transfer taxes are no exception. The major change that occurred in this area relates to the

Managing Your Net Working Capital

POSTED: 09/18/2018

When a business is considering selling there are many elements to be managed. One of the elements that should be closely monitored is called Net Working Capital (NWC). A unique issue related to NWC is that, if not properly managed in the years leading up to a sale, the seller

Pre-transaction Tax Structure Considerations for the Closely Held Business

POSTED: 09/18/2018

Business owners and entrepreneurs typically operate in a very fast paced environment and, as a result, can be unprepared for a transaction when the opportunity arises. If they face a potential transaction to raise capital, sell their business or acquire another company, they may not have had time to consider

Misconceptions about the Research & Experimentation Tax Credit

POSTED: 08/30/2018

In 2018 we are trying to figure out the extent of the impact from the Tax Cuts and Jobs Act. One thing we know is that the Research & Experimentation (R&E) Tax Credit remains intact. Additionally, as manufacturing companies put more emphasis on Industry 4.0, each current process may change and become

6 Common Misconceptions About the R & E Tax Credit Means Too Many Companies Are Leaving Money on the Table

POSTED: 07/12/2018

Qualified research activities can generate significant savings opportunities for manufacturers, system integrators and the automation industry, CPA says Southfield, Mich. — Clayton & McKervey, a certified public accounting and business advisory firm helping closely held businesses compete in the global marketplace, recommends that businesses reconsider the Research & Experimentation (R&E) tax


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