Industrial Automation | Michigan International Tax Accountant

We are committed to bringing you the latest news and impacts related to the Coronavirus and business operations—COVID-19 Resources. In addition, we can help navigate the challenges ahead.

What Comes After COVID-19?

Posted by Tim Finerty and Bryan Powrozek on October 7, 2020

Tim Finerty

The COVID-19 pandemic has impacted businesses around the world by disrupting supply chains, impacting cash flow and accelerating the pace of digital transformation. Here are some strategies to put businesses in the best future position as they navigate the impacts of COVID-19.

Automation is the Solution for Maximizing ROI

Posted by Tim Finerty on September 23, 2020

As more and more companies face the pressure to create a higher performing product as efficiently as possible, a number of them are now adopting Industry 4.0 technology to adapt their workflows to the 21st century. And as a result of embracing this evolution, these businesses are reaping the benefits.

Control Design Article: COVID-19 Impacts

Posted by Tim Finerty and Bryan Powrozek on August 19, 2020

Industrial Automation Shareholder Tim Finerty and Manager Bryan Powrozek share some recommendations to put businesses in the best future position as they navigate the impacts of COVID-19.

Robot Nation Podcast: Talking Automation with Tim & Bryan

Posted by Tim Finerty and Bryan Powrozek on August 7, 2020

Shareholder Tim Finerty and Manager Bryan Powrozek talk about the latest innovations and cash flow considerations impacting industrial machine builders on a recent episode of the Robot Nation podcast.

Debt Restructuring: How Does it Impact Your Taxes?

Posted by Margaret Amsden on June 22, 2020

Throughout the ordinary course of business, you could very well find yourself in a position of insolvency leading to the restructuring of your debt. Dealing with cash flow issues or insolvency can be very stressful and time-sensitive for business owners and taxpayers alike. Learn how debt restructuring impacts your taxes and what to do if you find yourself in this situation.

Economic Aftershocks of COVID-19—and Five Financial Strategies

Posted by Tim Finerty and Bryan Powrozek on June 9, 2020

Beyond basic operational concerns, many process industry users and system integrators are facing related business and financial issues due to COVID-19 and its direct and indirect effects.

Mexico Manufacturing During the COVID-19 Crisis

Posted by Carlos Calderon on April 13, 2020

Like most of the countries in the world, Mexico has been and will be significantly impacted by the Coronavirus outbreak. With the shutdown of non-essential activities, the peso has devaluated, the index of risk has risen and unemployment rates have soared.

Financial Analysis Video: Days Cash On Hand

Posted by David Van Damme on April 6, 2020

In light of COVID-19, business owners, CFOs and operations managers are spending a lot of time thinking about cash flow. Now, more than ever, cash is king and understanding how to plan over the next few months and beyond is vital. Watch the video to learn more.

CARES Act Special Rules for Use of Retirement Funds

Posted by Julie Killian on March 30, 2020

The CARES Act includes a number of provisions to allow access to retirement funds in employer-sponsored retirement plans.

To “C” or not to “C”? That is the Question

Posted by Jim Biehl on March 17, 2020

Whether it is nobler in the mind to suffer the higher effective tax rates as a flow-through entity, while maintaining optimum future planning flexibility, or elect to convert your flow-through entity to be taxed as a C corporation, and by doing so realize the immediate and delicious 21% “permanent” C corporation tax rate?

Financial Analysis – Utilization

Posted by David Van Damme on March 3, 2020

Senior Manager Dave Van Damme shares insights on a handful of key performance metrics to help business owners track financial performance.

Demystifying the Financial Statement

Posted by Jim Biehl on February 12, 2020

Owners spend years amassing the knowledge and experience necessary to become masters at their craft. Passion for the work and the satisfaction of helping clients is what drives them – not necessarily administrative tasks like financial accounting and reporting.

Slowdown Predicted for System Integrators

Posted by Tim Finerty on February 6, 2020

The concern about an economic slowdown has permeated the news in the past few months. This has been punctuated by the Federal Reserve Bank’s recent decision to cut interest rates for the third time in 2019.

Financial Analysis – Revenue By Employee

Posted by David Van Damme on January 23, 2020

Senior Manager Dave Van Damme shares insights on a handful of key metrics to help business owners track financial performance. Here, he discusses revenue per employee so that business owners can better understand the relationship between revenues and costs.

5 Considerations for Finding the Right CPA

Posted by Denise Asker on January 3, 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.

Be on the Lookout for R&D Tax Credit Changes

Posted by Bryan Powrozek on December 29, 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.

Industry 4.0 is Driving Transformation in Finance and Accounting

Posted by Clayton & McKervey on December 4, 2019

“The term Industry 4.0 conjures up images of high-tech factories filled with connected robots performing work previously done by people, but the technologies enabling this transformation are not just confined to the plant floor,”

Industry 4.0: It’s Not Just for Manufacturers!

Posted by Bryan Powrozek on November 21, 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 …

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

Posted by Teresa Gordon on October 31, 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.

Getting Ready for Year-End Planning

Posted by Margaret Amsden on October 28, 2019

Every year brings a list of information filing requirements necessary to make sure that payees have the information needed to file their taxes. To assist with year-end business reporting, Clayton & McKervey has identified some items for you to consider.

‘Your Company’s Financial Health in an Industry 4.0 World’

Posted by Clayton & McKervey on September 26, 2019

Clayton & McKervey will present a Tech Takeover on ‘Your Company’s Financial Health in an Industry 4.0 World’ on Wednesday, October 16, 2019, at Automation Alley in Troy. The presentation will help manufacturers and system integrators better understand the financial health of their businesses in an era of advanced manufacturing and emerging Industry 4.0 technologies.

5 Considerations for Choosing an International CPA

Posted by Teresa Gordon on July 2, 2019

International businesses expanding into the US, whether a manufacturer, distribution company or professional service firm, face similar challenges. Operational issues such as supply chain, vendor management and process or production optimization require close attention, as do human resources, sales and marketing.

Using the R&E Tax Credit to Improve Profitability

Posted by Tim Finerty and Bryan Powrozek on June 26, 2019

Most system integrators have heard that the R&E tax credit can have an immediate impact on a company’s cash position as it frees up money...

Where is the NAFTA Now?

Posted by Carlos Calderon on June 17, 2019

After Mexico, Canada and the USA officially signed the United States-Mexico-Canada Agreement (USMCA) in November 2018, many of us may have expected immediate action. Clearly, that was not the case! It is expected that this new agreement will bring more investment opportunities to promote the creation of jobs, effectively positioning North America as the most competitive region worldwide.

Do You have to Adopt the FASB Revenue and Lease Standards?

Posted by Julie Killian on June 11, 2019

Do you provide monthly or quarterly financial statements to your bank or other stakeholders? Are those financial statements required to be prepared using US GAAP standards?

Top Considerations for System Integrators with the Tax Cuts and Jobs Act

Posted by Sarah Russell and Timothy Finerty on May 1, 2019

With the change in tax law, and key court decisions in the past few years, there has never been a better time to reevaluate your ability to qualify and utilize the R&E tax credit.

Research & Experimentation Funding for Control Groups

Posted by Sarah Russell and Tim Finerty on January 2, 2019

A common misconception about the Research and Experimentation Tax Credit for Increasing Research Activities (hereinafter the R&E Credit) arises when control group members share expenses related to qualified research activities; and when the ultimate user or decision maker is not the same entity who conducted the research activities.

R&E Tax Credit is a ‘Smart’ Incentive for Industry 4.0 Companies to Improve Financial Performance

Posted by Clayton & McKervey on December 12, 2018

Automation continues to revolutionize the economy, but many thriving companies are not utilizing federal and state tax credits and incentives in the area of research and development that support Industry 4.0 adoption and growth.

Maximizing Tax Savings for System Integrators & Automation Companies

Posted by Tim Finerty and Sarah Russell on June 8, 2016

Clayton & McKervey Shareholders Tim Finerty and Sarah Russell hosted a video, "Maximizing Tax Savings for System Integrators & Automation Companies," produced by the Robotic Industries Association (RIA). The presentation discussed recent changes in legislation and the current eligibility requirements for companies interested in benefitting from R&E tax credits.

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