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2023 Consumer Products Year-End Tax Planning Guide
The Consumer Products Industry has been known to be stable and consistent, historically. With the challenges of COVID in the rear-view mirror, it is fair that founders and investors expected favorable tailwinds within the industry. However, a potential recession, supply chain issues, labor shortages, global conflicts, climate change, record inflation and ever-changing consumer behavior has required a significant reset. The days of exponential top-line growth being the foundation of success is no longer sound. Investors now demand healthy revenue channels, robust contribution margins and viable paths to profitability.
The considerations mentioned above have also influenced the complex analysis of year-end tax planning. Tax planning requires multi-year modeling to match the goals of the company and/or investors to the complexities of the Internal Revenue Code. This tax guide covers the most common considerations we are analyzing and working through with our Anchin clients. However, every company and investor’s situation is unique. So, we urge you to meet with your tax advisors to provide you with a comprehensive review of tax saving strategies for your specific situation.
Click here to access this year’s tax planning update. If you would like to discuss any of the techniques or planning ideas covered within this guide, please contact Brent T. Lessey, John Ingrassia, Raymond Haller, Richard Stieglitz, or any member of Anchin’s Consumer Products Group at your earliest convenience.
