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Blackman Thought Leaders Present at Food Processing Suppliers Association (FPSA) 2010 Financial Strategies Seminar

Food Processors: join us and receive a 50% discount on registration.Write promo code BLACKMAN0909 on your registration form and email it to asilva@fpsa.org or fax to 703-761-4334.Date: September 9, 20109:00 am - 3:00 pmClick here for Event Schedule.Location: Renaissance Chicago…

ACG Chicago 2010 Food Conference: Feasting on Middle Market Opportunities

Join ACG Chicago! Register here.One of the most powerful executive line-ups gathered for one conference! Discover the deals and vibrancy of the Midwestern Food Industry by focusing on organic & strategic growth.Luncheon Keynote: Dean Metropoulos, Chairman & CEO, PabstTrends &…

Hoffman Discusses New Tax Hikes on First Business News

In an interview with First Business News, Cara Hoffman, Senior Manager in Blackman's Tax Department, shares important insight on a new wave of tax hikes.The increases go into effect January 1, 2011 and will largely impact families and small businesses.…

Lean, Six Sigma and ERP - Working Together

Author ProfileJeff Carr is the founder of Ultra, a consulting company focused on ERP and business-process improvement for the manufacturing industry. Learn more about Ultra at www.ultraconsultants.com.The manufacturing industry is focused on improving business processes, eliminating waste, and reducing costs.…

Capital Spending: Treat It Like An Investment, Because It Is

For almost two years now, middle-market business owners and management teams have been challenged by the global economic crisis to make the tough decisions necessary to ensure that they survive, and ultimately thrive, in uncertain economic times. Cash-flow management has…

Be Irish — Going Green has tax benefits!

As previously discussed in the June 2008 Tax Highlights, “Save $$ by Going Green with Your Building”, Section 179D, originally enacted as part of the Energy Policy Act of 2005, provides a deduction for energy-efficient commercial buildings through December 31,…

Manufacturers & Sales Tax - What You Need to Know

Compliance with sales tax is a relatively simple process. When making a sale, the seller must collect and remit sales tax at the rate applicable to the customer’s location. However, sales made to a customer who is not the end…

2010 Food Industry Forum Brings Manufacturers, Processors and Service Providers Together

On Thursday, March 11, more than 80 food manufacturers and processors met at the Hyatt Regency O'Hare for the 2010 Food Industry Forum hosted by Blackman Kallick, Reed Smith and Wells Fargo. Speakers from all three firms shared their expertise…

Optimism Jumps Among Manufacturing Finance Execs; Partner, Paul Oetter, tells us why

Paul Oetter, Partner in Charge of Blackman Kallick's Manufacturing and Distribution Practice, distills the takeaways from Journal of Accountancy article, Optimism Jumps Among Manufacturing Finance Execs. Results from the Economic Outlook Survey Q1 2010, conducted by the AICPA and the…

Su's Article, Tips for Selling Your Business from a Buyer's Perspective, Published in Winter 2010 Issue of The IL Manufacturer

Stella Su, Director of Corporate Finance Consulting, is published in the Winter 2010 issue of The IL Manufacturer. Her article, Tips for Selling Your Business from a Buyer's Perspective, advises all sellers to know the value of their business before…

Excess Capacity - Tax Advantage or Disadvantage?

In the December 2009 Manufacturing Edge, Brian Wiedenhoeft wrote the article “Excess Capacity: Accounting, Pricing and Production Issues,” which discussed the accounting implications of allocating overhead when production is below normal. A capacity-based fixed overhead allocation allows, for book purposes,…

The Federal Government to the Rescue: Five-Year NOL Carryback

From businesses to practitioners, it appears that all are praising the change to Net Operating Loss (NOL) carryback provisions in the Worker, Homeownership, and Business Assistance Act of 2009 (the New Act), signed into law November 6, 2009. The change…

Review Your Capital Assets for Possible Impairments

As we put the recent recession in our rearview mirror and look ahead to the anticipated greener pastures of 2010 and beyond, it may be appropriate to review your company’s capital assets (land, buildings, machinery, and equipment) for potential impairments.U.S.…

Ensuring Timely and Accurate Financial Reporting for Your Foreign Subsidiaries

Make sure you have all the components in place for accurate, and timely, financial reporting from your foreign subsidiary.Recently we were asked to help a company set up the financial reporting infrastructure for a foreign subsidiary it had recently acquired.…

Issues Surrounding the Treatment of Business Combinations

In December of 2007, the Financial Accounting Standards Board (FASB) issued Statement No. 141(R), Business Combinations. This standard is now referred to as ASC 805 given the recently introduced FASB Codification. These rules have generated a significant level of discussion…

Are We Coming Out of a Recession? Is it Time to Take the M&A Plunge?

The U.S. stock market is soaring, commodity prices are on the rise, and there are signs that consumer confidence is growing. The positive news is countered with growing bank failures, indications that banks are still not lending, persistent unemployment, and…

Blackman Hosts the 2010 Food Industry Forum

Blackman Kallick, with Reed Smith and Wells Fargo, will host the 2010 Food Industry Forum: Addressing Risks and Challenges in the Food Industry on Thursday, March 11 at the Hyatt Regency O'Hare. The morning event, beginning at 7:30 am, consists…

Blackman Kallick Sponsors Valley Industrial Association Economic Luncheon

Blackman Kallick is proud to be a Gold Sponsor of the Valley Industrial Association Economic Luncheon on February 18 at the Hotel Arista in Naperville, Illinois. The luncheon will feature "An Overview of the U.S. Economy" by Dan North, Chief…

LIFO and Decreasing Prices—The Perfect Storm?

Many manufacturers and distributors will default to utilizing the first-in, first-out (FIFO) method in valuing inventory. When raw material and product prices are increasing, older inventory items are replaced with new, higher priced inventory as products are sold. This method…

McNally article "Ready to Sell?" Published in Manufacturing Today

Pat McNally, Partner in Charge of Blackman Kallick's Corporate Finance Group, helps business owners understand what drives value and what factors may affect a sale in the Winter 2010 issue of Manufacturing Today."To understand the value of a business, you…

Excess Capacity: Accounting, Pricing and Production Issues

The severe economic conditions experienced by multiple industries during the recent worldwide recession have several accounting, pricing and production implications. In many instances, companies have been forced to dramatically change their cost structure by reducing the size of their workforce,…

Inventories - Lower of Cost or Market Considerations

Accounting for the cost of inventory is one of the most complex financial and management accounting challenges that manufacturers face. That said, accounting policies, which are required to be disclosed in financial statements, often sound similar. In most cases, an…

Decrease Taxable Income at Year-End with Needed Upgrades

In February 2009, Congress passed The American Recovery and Reinvestment Act. This stimulus act provides many opportunities for taxpayers to save money, but most importantly, for businesses, the Act extends bonus depreciation from 2008 to 2009. By taking advantage of…

Potential Payday for Propane Users

A refundable tax credit for the sale or use of alternative fuels and alternative fuel mixtures is available to provide relief for taxpayers from the fuel tax. The revenue collected from the fuel tax is committed to transportation and road…

Oetter Quoted in "Are You Worried?", Insight Magazine

Paul Oetter, Partner in Charge of Blackman's Manufacturing & Distribution Practice, was asked about potential benefits and challenges to the adoption of International Financial Reporting Standards (IFRS) in a recent issue of Insight Magazine, the official publication of the Illinois…

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This publication is part of Blackman Kallick’s marketing of professional services, and is not written tax advice directed at the specific facts and circumstances of any person and/or entity. Contents of this publication are of a general nature, and you should not act on this information without obtaining professional advice from your business advisor that is appropriately tailored to your individual needs and circumstances. This written advice is not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code.