In this episode of the Manufacturing Minute, host Megan Meador sits down with Rich Hedley, state and local tax leader at Brown Edwards, to unpack why SALT matters so much for manufacturers' cash flow and operations. Rich breaks down Nexus, both physical and economic, explaining how everything from out-of-state inventory to a one-day trade show appearance can create filing obligations. The conversation covers what to do once Nexus is established, how apportionment works, and the special single sales factor opportunity available to certain Virginia manufacturers.

Megan and Rich also dig into common sales and use tax pitfalls, manufacturing exemptions for machinery and equipment, and often-overlooked property tax savings like scrubbing fixed asset listings and appealing assessments. Rich closes with a real success story: how a voluntary disclosure agreement saved a client over $90,000 in penalties after fifteen years of unfiled North Carolina returns. Whether you're shipping into multiple states or just want to protect your bottom line, this episode is full of practical insight.

Most business owners think they're ready to sell — until the buyer's due diligence team starts asking questions. In this episode of the Manufacturing Minute Podcast, Megan Meador, Partner at Brown Edwards and leader of the firm's manufacturing and distribution audit practice, pulls back the curtain on what sophisticated buyers and private equity groups are really looking for when they examine your financials. Drawing on a conversation originally featured on the Exit Teams Podcast with host Bob Tankesley, Megan covers the red flags that make buyers walk away, the difference between a financial statement audit and a quality of earnings report, and why the two-to-three years before a sale are the most important window you have. Don't wait until you're in the middle of a deal to find out your books aren't telling the right story.

In this episode of Manufacturing Minute, I’m joined by my colleagues Melissa Stanley, Josh Morrison, and Brittany Quinn as we delve into the crucial topic of retirement plan compliance for manufacturing companies. We explore the intricacies of 401(k) plans, the importance of fiduciary responsibilities, and the key compliance requirements that employers must navigate. Our discussion highlights common pitfalls, such as late employee deferral deposits and the complexities of auto-enrollment, while offering best practices for maintaining effective retirement plans. Whether you're a CFO, HR leader, or business owner in the manufacturing sector, this episode provides valuable insights to help you optimize your retirement plan compliance and support your workforce. Tune in to learn how to turn compliance into a strategic advantage for your organization.

In this episode of Manufacturing Minute, I’m joined by Vince Centofanti, a director at Brown Edwards specializing in business valuation. We dive deep into the intricacies of business valuation, discussing its importance for manufacturing and distribution companies. Vince shares insights on the three main approaches to valuation: income, asset, and market approaches, and explains how these methods help business owners understand their company's worth, especially in the context of transitioning ownership or planning for future tax liabilities. Whether you're considering selling your business or simply want to know its value, this episode provides essential knowledge for any business owner navigating the complex world of valuations. Tune in to gain clarity on how to effectively assess and communicate the value of your business.

In this episode of Manufacturing Minute, I’m joined by Bryan Wages from the Specialty Tax Group to explore how manufacturers in Tennessee can leverage state tax credits to significantly reduce their tax liabilities. We delve into the Tennessee Job Tax Credit, discussing the requirements for job creation and capital investments that can lead to substantial savings. Bryan explains the importance of preapproval and outlines the application process, ensuring that companies understand how to qualify. We also touch on similar programs in neighboring states, highlighting the opportunities available for businesses looking to expand. Tune in to discover how strategic planning can transform your tax obligations into financial advantages.

In this episode of Manufacturing Minute, I dive into the world of cost segregation studies and their significant benefits for manufacturing businesses. Joined by John Haning of the Specialty Tax Group, we explore how these studies can accelerate tax deductions, ultimately improving cash flow for manufacturers. John shares insights on identifying suitable properties, the study process, and the essential documentation required for implementation. We discuss real-world applications, including success stories that illustrate the potential savings. Tune in to discover how proactive tax planning and expert guidance can help your business unlock valuable tax savings and drive growth in a dynamic manufacturing landscape.

In this episode of Manufacturing Minute, host Megan Meador welcomes Nick Janda from the Specialty Tax Group to discuss how manufacturers can reclaim significant funds through R&D tax credits. They explore what qualifies as R&D, the benefits of these credits, and how businesses can navigate the application process. Nick explains the potential financial impact, revealing that companies can expect to recover 8 to 12 cents on every qualified dollar spent on R&D activities. The conversation highlights the importance of documentation and proactive planning to ensure compliance and maximize benefits. Whether you're a small manufacturer or a larger enterprise, this episode offers valuable insights on leveraging R&D credits to reinvest in your business. Tune in to learn how to avoid common pitfalls and take full advantage of this opportunity.

In this episode of Manufacturing Minute, I, Megan Meador, dive into the significant changes surrounding Section 174 tax relief and what manufacturers need to know about the recent R&D capitalization fix. Joined by Nick Janda from the Specialty Tax Group, we explore the history and implications of these rules, which have posed challenges for companies engaged in R&D. We discuss the transition from mandatory capitalization to the restoration of full R&D expensing starting in 2025, highlighting the opportunities for manufacturers to reclaim unamortized costs and optimize tax savings. Tune in to understand how these changes can revitalize R&D efforts and foster growth within the manufacturing sector.

In this inaugural episode of Manufacturing Minute, I, Megan Meador, am thrilled to welcome Randy Loman from Lake Turn Automation. Together, we dive into the transformative role of AI in finance, moving beyond the hype to uncover its real business value. Randy shares insights from his extensive experience in operations and IT, highlighting how AI can close productivity gaps in finance teams, enabling them to focus on higher-value tasks. We discuss the evolution of AI, its practical applications in areas like invoicing and expense management, and the critical need for finance leaders to navigate the technology responsibly. Join us as we explore how to harness AI effectively, ensuring your finance operations thrive in a rapidly changing landscape. Tune in for valuable strategies and insights for your organization’s future.