CHICAGO--(BUSINESS WIRE)--Accounting and advisory firm Baker Tilly Virchow Krause, LLP (Baker Tilly) today announced the development of a new tool that is available through Baker Tilly’s Center for the Return of Manufacturing (CFRM). The tool is a calculator to help manufacturers determine and plan for the potential impact of the Congressional GOP plan that includes the much debated border adjustment tax (BAT).
On June 24, 2016, GOP members of the U.S. House Committee on Ways and Means released their vision for tax reform. Referred to as the House Blueprint, the tax model has served as the foundation for the significant and on-going debate about any potential tax reform.
“CFRM created the BAT tool to give a high-level overview of what tax reform could mean to manufacturers,” Jim Malczewski, CFRM tax leader, said. “The calculator will help show the potential federal tax cost or benefit under the House Blueprint compared to current federal income tax laws.”
Baker Tilly’s Center for the Return of Manufacturing’s BAT calculator can be viewed at: bakertilly.com/returnofmanufacturing.
The CFRM asserts that manufacturers need to understand the impact of tax reform on their company to ensure competitive advantage. “Historically, it may have been impractical for manufacturers to pay attention to the tax reform debate before it is enacted, but the 2017 debate looks and feels different,” Malczewski said.
More details can be seen in the CFRM insight “How prepared manufacturers can win – with or without a border-adjusted tax.”
Baker Tilly’s CFRM works to play an important role in the future of U.S. manufacturing by offering tools and hands-on support to manufacturers. Part of this support includes providing clarification on what tax reform could mean given the basis of the current House Blueprint.
About Baker Tilly Virchow Krause, LLP (bakertilly.com)
Baker Tilly Virchow Krause, LLP (Baker Tilly) is a nationally recognized, full-service accounting and advisory firm whose specialized professionals connect with clients and their businesses through refreshing candor and clear industry insight. With approximately 2,700 employees across the United States, Baker Tilly is ranked as one of the 15 largest accounting and advisory firms in the country. Headquartered in Chicago, Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 147 countries, with 30,000 professionals. The combined worldwide revenue of independent member firms is $3.2 billion.