SYRACUSE — Syracuse–based accounting firm Dannible & McKee, LLP is set to host its annual manufacturing conference as a virtual event on Thursday, Oct. 22 from 8:30 a.m.-12:00 p.m.
Described as an “industry-focused” conference, participants will hear from Randy Wolken, president and CEO of MACNY, the Manufacturers Association, on the outlook of the manufacturing industry in New York state.
The virtual conference will also include presentations on key tax provisions and the financial impacts of the coronavirus pandemic that “manufacturers should be aware of.” The event will also offer two breakout sessions to allow for smaller group question-and-answer sessions with Dannible & McKee representatives.
Continuing professional education (CPE) credits are also available through this conference, the firm said in an email about the manufacturing conference.
Like every industry, the coronavirus pandemic has had a “significant impact” on manufacturing, including business declines, supply-chain disruptions, and “innovation and exploration.”
In his presentation, “The Outlook of New York State Manufacturing: 2020 and Beyond,” Wolken will review the current state of manufacturing in New York. We will also explore the future of manufacturing, its emerging trends, and the resiliency of the industry.
Dannible & McKee tax partners Brian Potter and Alex Nitka will deliver the presentation titled, “Tax Breaks and Benefits in the CARES Act for Manufacturers.”
The Coronavirus Aid, Relief, and Economic Security (CARES) Act is a “powerful tool” for manufacturers — with a number of provisions designed to assist manufacturers during the COVID-19 pandemic, the firm said. But, beyond Paycheck Program Program (PPP) loans, “is your company taking full advantage of the tax breaks and benefits?,” Dannible asks.
In this session, Potter and Nitka will examine key tax provisions of the CARES Act, along with other tax incentives, that manufacturers should consider as part of their tax-planning strategy.
The conference also includes a presentation titled, “Key Financial Impacts of the Pandemic on U.S. Manufacturers.” In this session, Dannible & McKee audit partners Victor Vaccaro and Benjamin Sumner will discuss some of the key ways that the pandemic has impacted U.S. manufacturers. They include obtaining and accounting for PPP loan forgiveness, operating and personnel matters, supply-chain issues, producing and selling products, and the possible effects on business valuation and ownership succession.