Uncategorized

03.28.24

Hot Topic Webinar: Q2 Economic Update

Event
Webinar
Wealth Management

Wednesday, April 24, 2024 at 12:00 PM CT How did the economy affect the markets in the first quarter of 2024? What can we look forward to in Q2? Join...

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03.27.24

Business owners, your financial statements are trying to tell you something

Articles
Business Owners
Business Tax

Business owners are commonly and rightfully urged to regularly generate financial statements in compliance with Generally Accepted Accounting Principles (GAAP). One reason why is external users of financial statements, such...

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03.26.24

Update on retirement account required minimum distributions

Articles
Retirees
Retirement 401k

If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax required minimum distribution (RMD) rules after reaching a certain age. If...

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03.25.24

BGM Named to Accounting Today’s “Regional Leaders Top Firms: Midwest” List

News

BGM has been recognized by Accounting Today, making the list of the 2024 “Regional Leaders Top Firms: Midwest.” For the sixth consecutive year, BGM has earned a spot on the...

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03.25.24

Coordinating Sec. 179 tax deductions with bonus depreciation

Articles
Business Owners
Business Tax

Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in achieving this goal: first-year Section 179 depreciation deductions...

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03.20.24

Should your business change its health care plan for next year?

Articles
Business Owners
Business Tax

Open enrollment for most health care plans is many months away. That makes now a good time for businesses to consider changing their employer-sponsored coverage for next year, or perhaps...

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03.19.24

President Biden’s proposed budget highlights his tax agenda

Articles
Business Owners
Individual Tax & Planning
Business Tax

President Biden has released his proposed budget for the 2025 fiscal year, including numerous tax provisions affecting both businesses and individual taxpayers. While most of these provisions have little chance...

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03.18.24

Bartering is a taxable transaction even if no cash is exchanged

Articles
Business Owners
Business Tax

If your small business is strapped for cash (or likes to save money), you may find it beneficial to barter or trade for goods and services. Bartering isn’t new —...

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03.15.24

Webinar: Business Enterprise Excellence: Chaos to Clarity Driven By Fractional CFO

Event
Webinar
Business Owners
Outsourced Accounting

Speakers: Cory Parnell, Patrick Wheeler, Brian Stueve In today’s dynamic business environment, mastering financial complexities is crucial for growth and stability. This session delves into the innovative approach of fractional...

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03.12.24

Beware of a stealth tax on Social Security benefits

Articles
Retirees
Retirement 401k

Some people mistakenly believe that Social Security benefits are always free from federal income tax. Unfortunately, that’s often not the case. In fact, depending on how much overall income you...

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“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.