Manufacturing Day in America Celebrations on Tap for October

National Manufacturing Day in America is a celebration of modern manufacturing meant to inspire the next generation of manufacturers. We are proud to partner with regional leaders to promote awareness of the industry's opportunities through the following events.
TSMA Q4 Event and Leaders & Libations
October 4, 2016
Rules of Engagement: How Local Leaders Build Engaged Organizations
  • Norm Bafuno, President of Toyota Motor Manufacturing, Inc.
  • Zach Bawel, President of Jasper Engines & Transmissions
  • Brandon Willis, President of Uniseal, Inc.
  • Matthew Nix, President of Nix Companies.
2:30 - 3:00 PM CT Registration
3:00 - 4:00 PM CT Program
Southern Indiana Career & Technical Center
1901 Lynch Road
Evansville, IN 47711

Leaders & Libations
4:30 - 6:30 PM CT
Carson's Brewery
2404 Lynch Road
Evansville, IN 47711

General admission for both events is $50 per person. TSMA Members and HSC Clients are free. To register, visit the TSMA Events page.

One Southern Indiana's Metro Manufacturing Alliance Manufactuirng Day in America Celebration

October 27, 2016
5:00 to 7:00 p.m. ET
Madrid Conference Center
545 S Third Street
Louisville, KY 40202

For reservations, contact Leslie at leatherly@hsccpa.com.
Despite challenging environment, manufacturers maintain positive outlook

With the recovery of the economy and the dollar continuing to strengthen, U.S. based manufacturers should consider the effects of global growth in the industry. The following article will highlight a few of the key challenges and opportunities affecting the global growth of the manufacturing industry.

Click here to view the full article or contact Scott Olinger, CPA, CGMA, CPIM at 800.880.7800 ext. 8466, solinger@hsccpa.com.
Changes to Rules for Exempt/Non-Exempt Employees

The Department of Labor has issued new rules regarding the exempt or non-exempt status of salaried employees that go into effect starting on December 1st of 2016. These rules have the potential to shift a much larger number of employees into qualifying for overtime pay and pose challenges for many employers. One of the many takeaways from the new rules is that employers paying salaried employees less than $47,476 per year will now need to increase those salaries to the $47,476 level or begin tracking their hours and paying them overtime. While exemptions do still exist for employees to remain outside of overtime tracking, all employers need to carefully review the new rules to determine what the final impact will be on their payroll processes.

For more details on how the new Department of Labor rules will affect employers click here or please contact Matt Folz at 800.880.7800 ext. 1391 or mfolz@hsccpa.com
Applying PATH Act extenders: New Guidance

Christian Wood and Justin Silva of RSM US LLP recently published an article explaining recent IRS guidance on applying the provisions of the Protecting Americans from Tax Hikes (PATH) Act of 2015. Described in the article are changes related to Section 179 carryover, the retroactive application of 50% bonus depreciation, and adjustments to Round 5 extension property. Due to the late timing of the PATH Act's passage, many taxpayers have been confused about how to apply the changes it enacted. The RSM US LLP article helps clarify bonus depreciation and Section 179 for fiscal year-end or short year tax return filers who may have to amend their filed tax returns or make an accounting method change to implement the extenders.

To read the full article click here or contact John Rittichier at 800.880.7800 ext. 8484, jrittichier@hsccpa.com.

From increased competition and continuous quality improvement demands to rising employee benefit costs and declining margins, manufacturers and wholesale distributors are facing greater challenges than ever before. In addition to the services you would expect from an accounting firm, we have a dedicated team ready to assist you with the unique challenges and issues facing your industry.

A number of our staff members belong to The Association for Operations Management (APICS) with some having achieved the CPIM and CIRM certifications. We understand your key issues and possess the drive and determination to help you manage your company on a proactive basis. This commitment positions us at the cutting edge of the industry and enables us to spot trends and deal quickly with the issues your company may be facing.

"When I started working in the family-owned business 40 years ago, Flanders had only seven employees. Today, we have approximately 650 employees and operate in 5 countries. Our relationship with HSC has been a key asset in achieving this growth. They have provided innovative ideas in tax strategies, operations, and succession and estate planning. HSC serves with a 'client first' attitude."

- David Patterson, Co-owner, Flanders

Disclaimer: The information contained in this email is for general guidance on matters of interest only. The publication does not, and is not intended to provide legal, tax or accounting advice.

Harding, Shymanski & Company, P.S.C.

800.880.7800 | info@hsccpa.cm  | www.hsccpa.com 


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Harding, Shymanski & Company, P.S.C. | 21 Southeast Third Street, Suite 500 | Evansville | IN | 47708