Uncategorized

12.19.22

2023 Q1 tax calendar: Key deadlines for businesses and other employers

Articles
Business Owners
Executives
Business Tax

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may...

Read More
the inside of a greenhouse growing medical cannabis
12.14.22
Cory M. Parnell, CPA

Year-end Cannabis Tax Planning: Preparing Your Business for the 2023 Tax Season

Blog
Cannabis
Business Tax

The end of the year is busy for most businesses and individuals, and it can be incredibly hectic for cannabis business owners and operators also. While it’s ideal for cannabis...

Read More
12.13.22

Selling stock by year-end? Watch out for the wash sale rule

Articles
Families
Individual Tax & Planning

If you’re thinking about selling stock shares at a loss to offset gains that you’ve realized during 2022, it’s important to watch out for the “wash sale” rule. The loss...

Read More
12.12.22

Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?

Articles
Business Owners
Individual Tax & Planning
Business Tax

If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the...

Read More
12.06.22

Answers to your questions about taking withdrawals from IRAs

Articles
Families
Retirees
Retirement 401k

As you may know, you can’t keep funds in your traditional IRA indefinitely. You have to start taking withdrawals from a traditional IRA (including a SIMPLE IRA or SEP IRA)...

Read More
11.28.22

Intangible assets: How must the costs incurred be capitalized?

Articles
Business Owners
Executives
Business Tax

These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What makes intangibles so complicated? IRS regulations require the capitalization of costs to:...

Read More
11.22.22

Year-end tax planning ideas for your small business

Blog
Business Owners
Business Tax

Now that Labor Day has passed, it’s a good time to think about making moves that may help lower your small business taxes for this year and next. The standard...

Read More
11.22.22

Year-end giving to charity or loved ones

Articles
Families
Retirees
Individual Tax & Planning

The holiday season is here and many people plan to donate to their favorite charities or give money or assets to their loved ones before the end of the year....

Read More
11.21.22

Is your business closing? Here are your final tax responsibilities

Articles
Business Owners
Business Tax

Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors: An owner retirement, A lease expiration, Staffing shortages, Partner conflicts, and Increased supply costs. If...

Read More
11.15.22

How savings bonds are taxed

Articles
Families
Retirees
Individual Tax & Planning

Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself. You may wonder how...

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.