December 2025

Victor W. Vaccaro, CPA/ABV, CFF

Audit Partner 

Featured Article From Our Experts

Understanding and Monitoring Loan Covenants 

Manufacturing is a capital-intensive industry that often relies on financing to sustain operations. Large borrowings are typically governed by detailed agreements that include extensive terms and covenants, which establish ongoing requirements that borrowers must meet throughout the life of the loan. In this article, I will discuss the importance of proactive compliance monitoring, outline key GAAP accounting considerations, examine common financial-reporting covenants and clarify the differences between restrictive and proactive covenants.

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New Tax-Saving Opportunities May Attract Funding for Manufacturers That Build in Rural Qualified Opportunity Zones

The Qualified Opportunity Zone (QOZ) program encourages investment in designated low-income communities across the United States. Recent changes under the One Big Beautiful Bill Act extend and expand the program, creating new tax-saving opportunities for manufacturers. Companies planning to re-shore or build new facilities, especially in rural areas, may find it easier to attract funding. This article summarizes key program rules and highlights new IRS guidance. 

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Create a Succession Plan Today to Prepare Your Manufacturing Company for Tomorrow

Thinking about retirement? A well-designed succession plan will help ensure your manufacturing company continues to thrive after you pass the baton. This article outlines key questions owners should address, from defining goals to choosing successors and preparing them for leadership, to support a smooth transition and protect the company’s long-term future. 

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Reverse Sales and Use Tax Audits Can Reveal Refund Opportunities for Manufacturers

Manufacturers often miss out on sales and use tax exemptions, leading to overpayments that can affect the bottom line. A reverse sales and use tax audit helps identify and recover these overpaid taxes. This article explains how such audits work, highlights common exemptions for equipment, materials and other manufacturing-related purchases, and shows how manufacturers can maximize savings while staying compliant. 

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Register for Our Annual Nonprofit Conference — January 7, 2026! 

Don’t miss one of our most popular events of the year! Our virtual Annual Nonprofit Conference brings together industry experts to break down the financial and operational challenges facing nonprofits today—and gives you practical strategies you can put to work immediately. CPE credits are available.

Register Now

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About Dannible & McKee, LLP

Dannible & McKee, LLP is a leading CPA firm that has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978. Known for our technical expertise and deep industry experience, we are committed to delivering high-quality service tailored to our clients' needs. Our team of manufacturing specialists understands the complexities of the industry and has extensive experience addressing key financial and operational challenges. We actively support the manufacturing community through our involvement with organizations such as the Manufacturers Association of Central New York (MACNY) and the Central New York Technology Development Organization (CNY TDO). As Upstate New York’s first-ever affiliate of GGI Global Alliance (GGI), we also provide clients with access to a prestigious international network of professional firms.

Learn more about Dannible & McKee at: www.dmcpas.com.

Proud to be ranked #1 CPA firm in the CNY Business Journal’s Book of Lists!