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Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in the name of the business? You may want to rethink...

High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Here’s an overview of the...

We are pleased to announce that Sara Maloney has joined the firm as its Chief Financial Officer. Maloney will direct and oversee the fiscal functions for BGM CPAs and the...

You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. While experts have varying opinions about whether it will reduce inflation in the near future,...

The Inflation Reduction Act (IRA), signed into law by President Biden on August 16, contains many provisions related to climate, energy and taxes. There has been a lot of media...

Cannabis businesses face complex tax obligations and need to be mindful of potential IRS audits. The complexities of IRS audits increase due to Section 280E of the Internal Revenue Code...

In today’s economy and environment, it can seem impossible to step away from our businesses to educate, network, and have fun. But sometimes we must make the time. When we...

Congress has passed the Inflation Reduction Act (IRA) and President Biden is expected to sign it into law. The $740 billion bill contains many tax breaks and raises revenue through a...

If you’re in the early stages of exploring cannabis financing or attempting to raise cannabis capital, you’ve probably come across the concept of convertible debt. Cannabis ventures, in particular, tend...

With electronic payments and in-app purchases becoming so much the norm, many midsize to large companies have grown accustomed to software-driven accounts receivable. But there are some smaller businesses that...