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2024 taxes spelled out with blocks
11.21.23

Key 2024 inflation-adjusted tax amounts for individuals

Articles
Families
Retirees
Young Inheritors
Individual Tax & Planning

The IRS recently announced various 2024 inflation-adjusted federal tax amounts that affect individual taxpayers. Most of the federal income tax rate bracket thresholds are about 5.4% higher than for 2023....

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A group of small business employees meeting together
11.14.23
John Barghini, CPA, MBT

Unlocking Transparency: Navigating the New Small Business Reporting Frontier

Newsletter
Business Owners
Business Tax
Beneficial Ownership Information Filing (BOI)

Starting January 1, 2024, many businesses will be required to file a Beneficial Ownership Information (BOI) report with the Financial Crimes Enforcement Network (FinCEN). The BOI reporting requirement is an...

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a golden egg in a nest next to the words 401(K) Plan
10.31.23

Contributing to your employer’s 401(k) plan: How it works

Articles
Business Owners
Business Tax

If you’re fortunate to have an employer that offers a 401(k) plan, and you don’t contribute to it, you may wonder if you should participate. In general, it’s a great...

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A puzzle with two missing piece that reveal the word Audit
10.25.23

What businesses can expect from a DOL benefits plan audit

Articles
Business Owners
Audit & Assurance
Retirement 401k

All but the smallest businesses today are generally expected to offer employees “big picture” benefits such as health insurance and a retirement plan. Among the risks of doing so is...

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Cannabis plants in a greenhouse
10.25.23

Minnesota Cannabis Market Insights: Discover Key Steps to Take Now

Event
Webinar
Cannabis

Wednesday, November 15, 2023 at 4:00 PM – 6:00 PM CT Discover the Flourishing Cannabis Landscape of Minnesota! Join us for a deep dive into the promising cannabis market in...

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a business office building
10.24.23

What businesses can expect from a green lease

Articles
Business Owners
Business Tax

With events related to climate change continuing to rock the news cycle, many business owners are looking for ways to lessen their companies’ negative environmental impact. One move you may...

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a graphic of an arrow with social security on it
10.23.23

The Social Security wage base for employees and self-employed people is increasing in 2024

Articles
Business Owners
Business Tax

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $168,600 for 2024 (up from $160,200 for 2023). Wages and self-employment income...

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BGM logo
10.17.23

Announcing BGM

News

Boeckermann Grafstrom & Mayer, BGM Wealth Partners, and Bridge West Weave Together their Talents to form BGM, Introducing New Brand and Website MINNEAPOLIS, October 18, 2023— Boeckermann Grafstrom & Mayer,...

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a flowering cannabis plant outside
10.12.23
Calvin P. Shannon, CPA, CVA

Decoding Section 280E: Impact on the Legal Landscape of Cannabis Businesses

Blog
Cannabis
Advisory
Business Tax

As the cannabis industry flourishes, a complex set of regulations and tax codes has emerged, shaping the financial landscape for businesses operating in this dynamic sector. Among these regulations is...

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A canal in Florida
10.10.23

The tax implications of renting out a vacation home

Articles
Families
Individual Tax & Planning

Many Americans own a vacation home or aspire to purchase one. If you own a second home in a waterfront community, in the mountains or in a resort area, 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.