Industrial Robotics Editorials
Peripherals: N/A
POSTED: 01/22/2020
The United States, Mexico, Canada trade deal (aka. NAFTA 2.0), has finally been approved by the US Senate after 29 months of extensive negotiations. Republicans and Democrats came together to show support with 89 votes in favor of the new agreement. Just 10 were against it. While this agreement is
Considerations When Expanding Outside the U.S.
POSTED: 01/15/2020
Succeeding in global markets requires significant time, energy and resources on the part of business owners and decision-makers. Here are the top 10 questions we encounter when a business is expanding globally Establishing a subsidiary outside the U.S. presents tremendous opportunities and benefits. Succeeding in global markets requires significant time, energy
5 Considerations for Finding the Right CPA
POSTED: 01/07/2020
Whether you are handling business or personal finances, having a Certified Public Accountant (CPA) as your advocate is priceless. The right CPA can help you and your business move toward financial success and uncover areas of financial improvement. Here are the top 5 considerations when finding the right CPA for
Be on the Lookout for R&D Tax Credit Changes
POSTED: 12/30/2019
As the end of another calendar year approaches many companies are beginning to shift their focus to year-end planning. As the dust continues to settle on the changes implemented under the Tax Cuts and Jobs Act (TCJA) most taxpayers have familiarized themselves with the new tax landscape. However, there is
Maximizing the Tax Benefit of Charitable Giving
POSTED: 12/10/2019
With the tax law changes that became effective in 2018, the average person has potentially lost the benefit of their charitable contributions. However, there are several very straightforward options that you may be able to take advantage of. Before discussing the options, let’s take a quick look at what has caused
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
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
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
Top 5 EDI Documents For Manufacturing
POSTED: 05/17/2019
While Supply chains differ from one manufacturing company to the next, data still needs to be exchanged between suppliers, manufacturers, and customers. This is why Electronic Data Interchange (EDI) is such a critical component of modern manufacturing. Electronic data interchange (EDI) is a document exchange process. It involves a company's entire digital
7 Steps To Budgeting Process Improvement
POSTED: 05/17/2019
What Is Budgeting Process Improvement? When it comes to gauging corporate performance, the less time spent on non-revenue generating processes, the better. Unfortunately, the budgeting process is essential to proper performance and forecasting. That means mistakes can't be afforded. Not only do you want to reduce the time and errors associated with manual
POSTED: 01/12/2019
In January 2018, the World Economic Forum (WEF) released its first ‘Readiness for the Future of Production Report’. It outlines how well-positioned economies are to benefit from Industry 4.0. However, much of the news that has been generated since its release has focused on job losses caused by automation, rather than its
