The ethical dilemma of ransomware attacks

December 1st, 2021

The recent proliferation of well-publicized cyberattacks has revealed ransomware to be a serious national security threat. Still largely hidden from public view, however, are the attacks on small businesses, including many within the industrial, specialty and advanced textile industry, that don’t make the headlines. Surprisingly, while ransomware attacks have become a multibillion-dollar threat, the average […]

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Tax laws can help with startups and expansions

September 1st, 2019

Tax laws can help or hurt new and expanding businesses. By Mark E. Battersby In today’s economy, it’s not unusual for an existing fabrication business to branch out, or for the owner or self-employed canvas professional to start another business in the same or a different field. Few realize, however, that Uncle Sam stands ready […]

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Fringe benefits benefit employers and employees

November 1st, 2018

Whether it’s a result of a booming economy, tighter immigration laws or an educational system gone astray, finding qualified job applicants has become increasingly more difficult for those in the specialty fabrics industry. How can small businesses compete for badly needed, qualified workers? Thanks to our unique tax laws, every business can afford to offer […]

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Tax law changes make adding equipment and vehicles more affordable

September 1st, 2018

Last December’s Tax Cuts and Jobs Act (TCJA) not only slashed tax rates, it also enacted rules that allow businesses to treat as an expense and immediately write off more—including 100 percent temporary expensing for certain assets. This means adding needed equipment, vehicles or even a new shop building is now a lot more affordable. […]

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Outside expertise: how to find affordable, professional help when you need it

March 1st, 2018

While most owners of small- and medium-size businesses know the details of their companies intimately, there are often highly technical matters of law, accounting, management and marketing that are best handled by outside experts. Attorneys, accountants, and management and marketing advisers have specialized knowledge about niche areas that few business owners can hope to duplicate. […]

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New IRS accounting method changes

October 1st, 2017

The tax returns of many businesses in the specialty fabrics industry have been—and will most likely continue to be—extra thick. Thanks to newly issued “repair regulations,” tax return filings for last year included more work on “Form 3115, Application for Change in Accounting Method” than usual. Fortunately, the IRS recently made it easier for small […]

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