Uncategorized

a graphic showing the U.S. dollar with the words reasonable compensation overalyed on a tile
04.09.25

Businesses considering incorporation should beware of the reasonable compensation conundrum

Articles
Business Owners
Advisory

Small to midsize businesses have valid reasons for incorporating, not the least of which is putting that cool “Inc.” at the end of their names. Other reasons include separating owners’...

Read More
A graphic showing the words estimated tax payments with ficnancial charts behind it
04.08.25

An essential tax deadline is coming up — and it’s unrelated to your 2024 return filing

Articles
Individual Tax & Planning

Tuesday, April 15 is the deadline for filing your 2024 tax return. But another tax deadline is coming up the same day, and it’s essential for certain taxpayers. It’s the...

Read More
Business partner handshake after a meeting.
04.07.25
Spencer Davies, CFP®

How to Transition Your Business to Family or Employees: Don’t Let Legacy Become Liability

Blog
Business Owners
Wealth Management
Advisory

Key Takeaway: You built your business with strategy, sacrifice, and stamina—but transitioning it requires a different kind of discipline. Whether you’re eyeing family members or key employees, the earlier you...

Read More
Business owner signing a contract preparing to sell a business.
04.07.25

Small business alert: Watch out for the 100% penalty

Articles
Business Owners
Advisory

Some tax sins are much worse than others. An example is failing to pay over federal income and employment taxes that have been withheld from employees’ paychecks. In this situation,...

Read More
A graphic showing connecting files hovering over a laptop with a professional working on it
04.02.25

Is your business on top of its tech stack?

Articles
Business Owners
Advisory

Like many business owners, you’ve probably received a lot of technology advice. One term you may hear frequently is “tech stack.” Information technology (IT) folks love to throw this one...

Read More
A graphic showing the us dollar behiund financial charts and the US flag
04.01.25

Hot Topic Webinar: Quarterly Economic Update

Webinar
Wealth Management

This presentation is offered for educational purposes only and should not be considered a comprehensive review or analysis of the topics discussed today. These materials are not a substitute for...

Read More
a mother and child hugging with the words head of household tax status next to them
04.01.25

Discover if you qualify for “head of household” tax filing status

Articles
Families
Individual Tax & Planning

When we prepare your tax return, we’ll check one of the following filing statuses: single, married filing jointly, married filing separately, head of household or qualifying widow(er). Only some people...

Read More
a house for rent sign
03.31.25

Are you a tax-favored real estate professional?

Articles
Individual Tax & Planning

For federal income tax purposes, the general rule is that rental real estate losses are passive activity losses (PALs). An individual taxpayer can generally deduct PALs only to the extent...

Read More
a businesswoman reviewing her financial statements
03.26.25

Business owners should get comfortable with their financial statements

Articles
Business Owners
Audit & Assurance

Financial statements can fascinate accountants, investors and lenders. However, for business owners, they may not be real page-turners. The truth is each of the three parts of your financial statements...

Read More
a graphic showing the word Loan with other financial symbols around it
03.25.25

Deduct a loss from making a personal loan to a relative or friend

Articles
Individual Tax & Planning

Suppose your adult child or friend needs to borrow money. Maybe it’s to buy a first home or address a cash flow problem. You may want to help by making...

Read More

“BGM” is the brand name under which BGM CPA, LLC and BGM Group, LLC provide professional services. BGM CPA, LLC and BGM Group, LLC practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations, and professional standards. BGM CPA, LLC is a licensed independent CPA firm that provides attest services to its clients, and BGM Group, LLC and its subsidiary entities provide advisory, and business consulting services to their clients. BGM Group, LLC and its subsidiary entities are not licensed CPA firms. The entities falling under the BGM brand are independently owned and are not liable for the services provided by any other entity providing services under the BGM brand. Our use of the terms “our firm” and “we” and “us” and terms of similar import, denote the alternative practice structure conducted by BGM CPA, LLC and BGM Group, LLC.

BGM WEALTH: Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.