As a seasoned manufacturer, distributor, or retailer in today’s world, you need to stay competitive while keeping costs low and production operating efficiently. You can’t afford to have regulations and compliance standards standing in the way of achieving your goals. You need a strategic partner who understands regulatory restrictions, bookkeeping, and everything in-between.
At DiSanto, Priest & Co., we can build upon your financial foundation while helping you stay ahead of the curve. With our advisory services and industry experience, you have more than a CPA firm, you have a relevant financial partner.
New Tax Incentive for US Corporations Exporting Goods or Services to Foreign Markets
Sep 5, 2018
For tax years beginning after December 31, 2017, the Tax Cuts and Jobs Act (TCJA) provides a new permanent deduction for domestic C-corporations that generate income from serving foreign markets. The deduction would reduce the federal tax rate on such income from 21% to 13.125% (increasing to 16.41% after 2025).
Physical Presence No Longer Required for Sales Tax
Jun 21, 2018
In a 5 - 4 decision, the Supreme Court ruled in favor of state authority to require online retailers to collect sales taxes without regard to physical presence in the state. Although states stand to gain much-needed tax revenues, there may be consequences for online retailers that do business in multiple states.
Taking Control of SOC Report Requests & Distribution
May 30, 2018
One of the ways firms and their business clients are utilizing a clearinghouse is for SOC report distribution – a process that is becoming more challenging to manage as an increased focus on third-party controls has led to a rise in requests for reports.
There is growing demand today for accurate, authenticated financial information. While technology has positively impacted the speed and accessibility of information, it has also created new ways to alter and compromise information.
On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (TCJA) into law, enacting the largest changes to corporate and individual taxation in over 30 years. We've highlighted the most important points for manufacturing, distribution and retail organizations.
Great News For Small Businesses That Qualified For Research Credits in 2016
Oct 18, 2017
Wage-paying small businesses with minimal taxable income can now take advantage of their research credits sooner than was allowed under the previous tax rules. The Protecting America from Tax Hikes Act of 2015 allows qualifying small businesses to apply research credits against the social security portion of its federal payroll tax bill.
In boating, an anchor is a mechanism used to hold a ship steady. In television, an anchor is a person who presents and coordinates. In sports, an anchor is the person on the team with the best ability. In Rhode Island, an anchor is a business that orchestrates the creation of new jobs.
Take Advantage of Bonus Depreciation Before Year End
Aug 23, 2017
Bonus depreciation's job is to spur economic growth through investment, or reinvestment, in business property within the United States. Whether you're a manufacturer looking to expand your operations or simply looking to update your equipment, bonus depreciation can help you accelerate tax savings.
Interactions with technology are advancing at an exponential rate, and so are the risks of a cyber-attack. It seems like every other day there is another story in the news of a malicious virus sweeping the global marketplace and negatively impacting local economies.
Though it has been publicized that certain “contract-based” industries - telecommunications, technology, engineering, media, and pharmaceuticals, to name a few – will be impacted by the new revenue recognition rules the effects are in fact more far-reaching and will apply to all companies, public or private.
5 Compelling Reasons to Consider Solar for Your Manufacturing Business
Aug 23, 2017
Technology in the energy industry is evolving at a rapid pace. Solar panels are becoming leaner and more efficient – providing more capacity at a lesser cost, mimicking the path of more traditional computer hardware. Below are 5 reasons why we believe solar is worth considering today to boost your bottom line.
One More Reason to Expand your Tech Business in Rhode Island
Aug 23, 2017
Are you currently operating a business in Rhode Island and looking to expand? Perhaps you have a business outside of RI that you’re looking to relocate. Rhode Island, in an effort to attract and retain new and existing businesses, enacted the New Qualified Jobs Incentive Act in 2015 and has already awarded several job creators significant annual, redeemable tax credits that have allowed them to make expanding or relocating to RI more financially feasible.