Texas CPAs Serving the Manufacturing and Distribution Industry
The challenges and opportunities in the manufacturing and distribution industry are greater today than they’ve ever been, due to advancements in technology and the growth of imported goods. Cornwell Jackson brings real-world knowledge to bear on the issues facing the manufacturing and distribution industry today, including: greater competition from new sources, the need for efficient production and processes, maintaining a motivated and trained workforce, inventory constraints, volatile fuel and freight costs, and operations and inventory management.
The roots of our manufacturing and distribution accounting practice group started with more than just nose-down compliance work. We actively work with clients to manage multi-state and foreign taxes and apply available tax credits and government subsidies and incentives to lower market expansion costs. We assist with R&D tax credits so clients can bring new products to market in a more cost-effective way while staying competitive. We evaluate LIFO costing as a means to accumulate inventory at a deferred cost. For more than 30 years, we’ve been working with our clients to position them for enduring success.
As business advisors committed to the growth and profitability of your business, we focus on more than just an audit report or tax return. Going beyond managing margins, we recognize challenges and opportunities in asset management and liquidity, employee productivity and cost efficiency. No matter what stage your business is in, Cornwell Jackson takes a practical, strong methodology to helping you accomplish your goals and objectives.
We’ve lived in your shoes. We know your pains and your triumphs. We can help you build your dream. We’ll walk your business life with you.
Manufacturing and Distribution CPA Experience:
- Crane Systems
- Stainless Steel Fabrication and Slitting
- Beauty Products
- Coffee Roasters
- Bags and Packaging Manufacturing
- Vehicle Air Conditioning Manufacturing
- Oil/gas, water, sewer pumps Manufacturing and Distribution
- Custom windows and doors Manufacturing
- Laundry equipment
- Anchor bolts
- Oil field and Industrial Supply
- Water Treatment Solutions
- Precious Metals Refining
- Modular buildings
- Building Products
- Institute for Supply Management
- Manufacturing & Technology News
- National Association of Manufacturers
- Modern Distribution Management
- National Association of Wholesaler-Distributors
- Manufacturing Association of North Texas
Manufacturing firms spend a lot of time focusing on streamlined operations and leveraging technology to reduce constraints in the supply chain. What if the theories of supply chain management were applied to business transition planning? In similar ways, you must assess demand, identify and find solutions around constraints, communicate effectively and take the critical path. This whitepaper aligns supply chain theory with business transition planning to give owners and leaders common language — and maybe some motivation to get started.
This is not a political article. It is more about pondering the possibilities for manufacturers who are waiting to see how a new federal tax plan may change how they structure their businesses. With tax reform on the legislative horizon, we looked at a handful of potential changes under discussion to provide some context for tax planning later this year.
As a longtime CPA in the Dallas area, I have worked with a lot of family-owned and closely held small business owners, particularly in manufacturing and distribution companies. If you are among the small and medium-sized business owners who are age 50 or older, that gives most of you a window of 10 years or less to fully execute a business transition or succession plan. Fortunately, creating the actual succession plan can take less than one year. This whitepaper can be your accounting starter kit or template for a fruitful business transition. Use it to support a healthier business and a more secure retirement. Your future begins…now.
In the past year, manufacturing employment in the Dallas/Fort Worth area has dropped by 2 percent. This statistic alone seems negative, but the overall outlook for manufacturing is trending positive with increased focus on innovation, simplified supply chains, diversification into customer-focused services and creativity with materials performance and fuel sourcing. It’s still a challenging industry, but this real or perceived lull in growth is the perfect time to assess the structure and vision of your company. Strengthen the basics to be ready for what’s next.
Recent Manufacturing and Distribution Blog Articles:
One of the big assumptions, or constraints, that holds back a business transition plan is that the owner assumes there is a future demand for the company. Before you determine how much a buyer is willing to pay for your business, you have to confirm there actually is a potential buyer. Having no future buyer … Continue reading Assessing the Demand for your Business
Manufacturing firms spend a lot of time focusing on streamlined operations and leveraging technology to reduce constraints in the supply chain. What if the theories of supply chain management were applied to business transition planning? In similar ways, you must assess demand, identify and find solutions around constraints, communicate effectively and take the critical path. … Continue reading How Theory of Constraints Applies to Your Business Transition Plan
Former New York City Mayor Ed Koch was famous for asking his constituents, “How am I doing?” Similarly, leaders in the manufacturing industry like to take the pulse of the sector from time to time, especially after the economic struggles of the last decade and a lull stretching over the past two years. Although the Institute … Continue reading 6 Strategic Steps to Help Spur Manufacturing Growth in 2017
Contact our Manufacturing and Distribution Specialist
Call us to arrange an appointment: 972-202-8000.
Gary joined Cornwell Jackson in 1983 and is a Tax and Consulting partner in Cornwell Jackson’s tax practice.
“I can pick up the phone and call them and say, ‘I want to make sure I get this right.’ Talking to Cornwell Jackson isn’t a once a year event. I don’t feel I’m on the clock every time I talk to them. If I ask them to do a project they tell me what it will cost and they live by that.”
-Tony Mendoza, CFO of Integracolor