Uncategorized

11.14.22

Computer software costs: How does your business deduct them?

Articles
Business Owners
Executives
Technology
Business Tax

These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in your products or services or sells...

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IRS documents
11.09.22

How the IRS Will Use Funding from the Inflation Reduction Act of 2022

Newsletter
Business Owners
Families
Business Tax
Individual Tax & Planning

On August 16, 2022, President Joe Biden signed The Inflation Reduction Act of 2022 into law. One of the provisions of the legislation was the additional supplemental funding of $79.6...

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A happy family
11.09.22

How to Protect and Provide for Your Children in Your Estate Plan

Newsletter
Families
Family Office
Wealth Management

As we move through the fall and into the holiday season, I am always reminded how important family is to me. When gathering with family, it causes me to question...

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a compass pointing to the word Lease
11.09.22
Jason A. Marvin, CPA

Off-Balance Sheet Debt No More – The New Lease Standard ASC 842

Newsletter
Business Owners
Executives
Advisory
Outsourced Accounting

Almost 30 years ago, the United States, United Kingdom, Australia, Canada, and the International Accounting Standards Board published a discussion paper that proposed the elimination of an operating lease. Operating leases were...

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a person reading a message while working on a laptop
11.09.22
Jon T. Meyer, CFP®

WFA—an Acronym Your Children and Grandchildren Might Regret

Newsletter
Families
Family Office

My oldest son is a senior in college and starting to interview for his first job. He is in civil engineering and has an awesome resume; COVID did not slow...

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11.08.22

Michael Andrews Joins Boeckermann Grafstrom & Mayer as Principal

News

Boeckermann Grafstrom & Mayer (BGM CPAs) is pleased to announce that Michael Andrews, CPA, ABV, has joined the firm as Principal and leader of BGM’s Estate and Trust Services Group....

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10.31.22

Inflation means you and your employees can save more for retirement in 2023

Articles
Business Owners
Families
Retirement 401k

How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently announced cost-of-living adjustments that apply to...

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10.25.22

You may be liable for “nanny tax” for all types of domestic workers

Articles
Families
Individual Tax & Planning

You’ve probably heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. Hiring a house cleaner, gardener or other household employee (who...

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10.25.22

Employers: The Social Security Wage Base is Increasing in 2022

Articles
Business Owners
Executives
Business Tax

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for 2021). Wages and self-employment income...

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10.17.22

Providing fringe benefits to employees with no tax strings attached

Articles
Business Owners
Executives
Business Tax

Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have to pay tax on the value of these...

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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.