Most business owners only talk to their CPA between February and April. And while tax season communication is essential, the real value comes from the conversations you have the other nine months of the year. The food distribution and manufacturing industry is complex and fast-moving. From tariff changes and currency fluctuations to cross-border compliance and supply chain pressures, this industry’s financial landscape is always shifting. That’s why we meet with… Read More
Strategic Cost Control for Food Distributors & Manufacturers
It’s a basic business equation: Increasing your profits means selling more and/or spending less. While building up your sales may require an extended effort, business costs in food distribution and manufacturing are often very ripe for strategic trimming. Here are some possibilities to help maintain profitability: Procurement and supplier management. In this industry, the largest outlays typically include raw materials, ingredients, packaging and freight. The first step in cutting expenses… Read More
What Your Financial Statements Reveal About Your Food Business
How financially fit is your food manufacturing or distribution company? We know we’re preaching to the choir, but this industry is defined by its tight margins and complex supply chains. That makes your balance sheet, income statement and statement of cash flows powerful diagnostic tools to help evaluate your overall financial well-being. A little analysis can go a long way to uncovering potential money management problems, inventory management challenges,… Read More
IRS Currently Not Collectible Status: A Lifeline for Struggling Food Businesses
In the food manufacturing and distribution industry, cash flow challenges are all too familiar. Delayed payments from distributors, unexpected equipment breakdowns and seasonal demand shifts can create perfect storms that leave businesses struggling to meet all their obligations — including tax bills. When you owe back taxes but can’t afford to pay them, you may qualify for a special tax status known as currently not collectible (CNC). In a nutshell, if the… Read More
6 Secrets to Building a Food Business That Lasts
We’ve all heard the stats — nearly 50% of new businesses fail within the first five years. But when you have a clear vision and effective strategies to build customer relationships, you can set your food manufacturing or distribution business up for long-term success. Here are six traits of businesses that are built to stand the test of time: 1. Having a pulse on your industry. How well do you… Read More
Why Food Businesses Need Specialized Tax Expertise
Running a food manufacturing or distribution business means juggling production schedules, supply chain logistics, compliance certifications and customer relationships. But should you add tax expert to your already long list of responsibilities? While there’s no shortage of tax software options that promise to simplify the process of preparing your own returns, consider these three compelling reasons to leave your taxes to professionals who understand the food industry: The margin for… Read More