Manufacturing
Accounting, tax, and advisory for manufacturers — from the shop floor to the tax return, focused on margins and growth.
Overview
Manufacturers compete on efficiency and cost, and the accounting behind that fight is rarely simple. Product costing, inventory absorption, R&D credits, capital equipment deductions, and a growing multi-state tax footprint all move at once. Pease Bell works with manufacturers to make those numbers accurate and useful, so owners and CFOs can price with confidence, plan investments, and satisfy lenders. From our Cleveland, Ohio headquarters we serve manufacturing clients across all 50 states, bringing full-service depth with a boutique touch. Whether you run one plant or several, we help you run leaner and plan smarter.
How we help manufacturers
A connected set of audit, tax, and advisory services built around how manufacturers actually operate.
Financial statement audits & reviews
Lender- and investor-facing audits, reviews, and compilations, with careful attention to inventory, absorption, and estimates that drive your reported margins.
R&D tax credits & Section 174
We identify qualifying process and product development work, document it defensibly, and navigate Section 174 capitalization rules so credits and deductions hold up under review.
Cost accounting & inventory
Product costing, overhead absorption, and inventory valuation methods that reflect true cost, support pricing decisions, and stand up to audit and tax scrutiny.
State & local tax (SALT)
Multi-state nexus, apportionment, Ohio Commercial Activity Tax, and sales-and-use planning for manufacturers selling and shipping across state lines.
Capital investment & depreciation planning
Bonus depreciation, Section 179, and cost-recovery planning so equipment purchases and plant expansions deliver the intended cash-flow and tax outcomes.
Outsourced accounting & CFO support
Monthly close, reporting, and ERP-adjacent support that give owners timely, decision-ready numbers without building out a full internal finance team.
Contact Us
Tell us about your operation and a member of our manufacturing team will be in touch.
The pressures we help you manage
Manufacturers face a distinct mix of operating and financial pressures, and each one has an accounting and tax dimension we help you get right.
- ✓Margin and cost pressure — Rising input, labor, and freight costs squeeze margins, so knowing true product cost is essential to pricing and profitability.
- ✓Inventory and supply chain — Tariffs, sourcing shifts, and stock levels affect valuation and cash, and can make inventory method choices worth revisiting.
- ✓Capital investment timing — Equipment and automation decisions carry large depreciation and cash-flow consequences that reward deliberate tax planning.
- ✓Multi-state exposure — Selling and shipping across state lines creates nexus, apportionment, and Ohio CAT obligations that are easy to underestimate.
- ✓Lender and buyer scrutiny — Banks and prospective buyers dig into your financials, so audit-ready records and clean estimates protect financing and deal value.
Why manufacturers choose Pease Bell
One team across audit and tax
Your audit, tax, and advisory work sits under one roof, so cost accounting decisions, credit strategies, and reporting stay aligned instead of colliding at year-end.
Full service, boutique touch
You get the depth of a Top 200 U.S. firm with direct access to the people doing the work, so questions get answered by someone who knows your operation.
Nationwide reach, local roots
Headquartered in Cleveland, Ohio and serving clients across all 50 states, we handle multi-state complexity for manufacturers wherever your plants and customers are.
Manufacturing Team
Jennifer A. Barnes, CPA, MT
Partner
Dan Black, CPA
Manager
Russell Burgett, CPA
Partner
Charles Federanich, CPA, MT, AEP
Senior Advisor
Todd M. Kennedy, CPA
Partner
Sarah Koderl, CPA
Manager
Matthew Migal, CPA, MBA
Director
Robert P. Mikovsky, CPA
Partner
Kathleen Moran, CPA, MBA, MT
Partner
Joe Rokas, CPA
Director
Manufacturing insights from our team
Practical guidance on the tax, accounting, and operating decisions manufacturers face right now.
- Inventory
Why Manufacturers Are Revisiting LIFO Inventory in a Tariff-Driven 2026Inventory method choices amid tariff and cost pressure.
- R&D / Section 174
Research Expenditure Deductions Under the One Big Beautiful BillR&E deduction and Section 174 planning for manufacturers.
- Depreciation
Bonus Depreciation 2025: 100% Write-Off Permanently RestoredHow full bonus depreciation affects equipment investment.
- Section 179
Section 179 Deduction: Rules, Limits, and What QualifiesExpensing rules for machinery and equipment purchases.
- Ohio SALT
Ohio Commercial Activity Tax Credits Most Businesses OverlookOhio CAT credits manufacturers often miss.
- Audit
Inventory Audit Procedures for Multi-Location BusinessesWhat auditors scrutinize in multi-plant inventory.
- Cybersecurity
Manufacturing Cybersecurity: Preventive MeasuresProtecting production systems and data from threats.
Manufacturing accounting FAQs
What does a manufacturing CPA firm do?
A manufacturing CPA firm handles the audit, tax, and advisory work specific to how manufacturers make and sell products. That includes financial statement audits and reviews, product costing and inventory valuation, R&D tax credits, depreciation planning on equipment, and multi-state tax compliance. The goal is accurate numbers that support pricing, financing, and investment decisions rather than just year-end filings.
Can manufacturers claim the R&D tax credit?
Yes, many manufacturers qualify for the R&D tax credit even without a formal research department. Developing new products, improving production processes, designing tooling, and testing materials can all count as qualified research. The key is identifying and documenting the work correctly. We help manufacturers evaluate eligibility, quantify qualified expenses, and coordinate the credit with Section 174 capitalization rules so the position holds up under review.
How does Section 174 affect manufacturers?
Section 174 requires research and experimental costs to be capitalized and amortized rather than deducted immediately, which can raise a manufacturer’s taxable income. Product development, process engineering, and related salaries often fall under these rules. Because Section 174 interacts closely with the R&D credit and recent legislation, we help manufacturers apply the current rules, model the cash-flow impact, and plan around them.
Which inventory accounting method is best for a manufacturer?
The best inventory method depends on your cost trends, tax goals, and reporting needs, and there is no single right answer. FIFO, LIFO, and weighted-average each affect reported margins, taxable income, and cash differently, and rising costs or tariffs can shift which one makes sense. We help manufacturers evaluate methods, understand the tax and financial statement trade-offs, and implement any change properly.
When do manufacturers need a financial statement audit?
Manufacturers most often need an audit when a lender, bonding company, investor, or buyer requires one. Loan covenants, credit facilities, and acquisition due diligence frequently call for audited or reviewed statements. Beyond compliance, an audit gives owners and boards independent assurance over inventory, margins, and estimates. We scope the right level of service, from compilation to full audit, based on who is relying on your numbers.
How do multi-state taxes work for manufacturers?
Manufacturers create state tax obligations wherever they have nexus, which selling, shipping, and storing goods across state lines can trigger. That drives income tax apportionment, sales-and-use tax, and, for Ohio operations, the Commercial Activity Tax. Rules and thresholds vary by state and change often. We help manufacturers map their footprint, register where required, and plan apportionment to avoid surprise liabilities and overpayments.