By James A. DeLeo, MBA, CPA/MSTGray, Gray & Gray, LLP What You’ll Learn This article examines an underappreciated complication in the IEEPA tariff refund landscape: What happens to a refund claim when a business is sold between the time it paid the tariffs and the time the CAPE filing process opens? The answer depends on […]
Sold the Business? Here Is Where the IEEPA Tariff Refund Actually Belongs Read More »
By James A. DeLeo, MBA, CPA/MST Gray, Gray & Gray, LLP What You’ll Learn This article explains how to account for IEEPA tariff refunds under U.S. GAAP: the two primary models, which one applies based on how your company recorded the original tariff costs, how to classify refunds on your income statement and balance sheet,
Accounting for IEEPA Tariff Refunds: Which GAAP Model Applies to Your Business Read More »
By Derrick Rebello, CPAGray, Gray & Gray, LLP Table of Contents In recent years, manufacturers have faced significant tax challenges, including mandatory R&D capitalization that increased taxable income, reduced equipment write-offs due to bonus depreciation phase-downs, and evolving state incentives. As a result, many missed out on valuable tax benefits. This landscape has now changed
Maximizing Tax Credits and Incentives for U.S. Manufacturers Read More »
By Derrick Rebello, CPAGray, Gray & Gray, LLP The signing of the One Big Beautiful Bill Act on July 4, 2025 represents a watershed moment for financial leaders in the manufacturing and distribution sectors. This sweeping tax legislation fundamentally reshapes the strategic tax planning landscape, creating both substantial opportunities and new complexities that demand immediate
Strategic Tax Planning for Manufacturing and Distribution Under OBBBA Read More »