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If you gamble or buy lottery tickets and you’re lucky enough to win, congratulations! After you celebrate, be aware that there are tax consequences attached to your good fortune. Winning...

In the face of a flood of illegitimate claims for the Employee Retention Tax Credit (ERTC), the IRS has imposed an immediate moratorium through at least the end of 2023...

In an ever-increasing digital world, the IRS continues transitioning its operations toward more efficient and secure methods. As a recent step in this direction, the IRS announced that starting January...

It is exciting to consider the possibility that the Drug Enforcement Administration (DEA) may follow the U.S. Department of Health and Human Serivces’s (HHS) recommendation to reclassify cannabis from a...

The evolving landscape of the cannabis industry in the United States has led to numerous legal and financial challenges. A critical issue that requires close attention is the interaction between...

The life of a business owner is often defined by competition. Competing for customers, talent, brand recognition and more are second nature. Selling a business also involves competition in the...

Boeckermann Grafstrom & Mayer (BGM) is proud to announce that we have been voted a Minnesota’s Best 2023 winner! BGM is recognized as a bronze winner in the Accounting Firm...

Law firms are unique businesses with their own set of financial challenges. Among these challenges, managing cash flow and determining taxable income for each partner rank highly. Addressing these issues...

The Land of 10,000 Lakes has officially joined the growing list of states that legalized recreational cannabis. With Minnesota’s legalization now in effect as of August 1, 2023, a new...

Life just flies by. One minute we are scolding a five-year-old, and the next we are attending their college graduation. One minute we are the perfect weight, and 10 years...