Uncategorized

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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An IRS auditor reviewing documents
10.09.23

How IRS auditors learn about your business industry

Articles
Business Owners
Audit & Assurance

Ever wonder how IRS examiners know about different industries so they can audit various businesses? They generally do research about specific industries and issues on tax returns by using IRS...

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a business professional holding a phone looking towards the camera
09.27.23

Business owners: Think carefully about fringe benefits related to smartphones

Articles
Business Owners
Business Tax

You’d be hard-pressed to find many employees these days who don’t use smartphones for some aspect of their jobs. Even someone who works behind a point-of-sale device may use a...

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two cannabis leaves sitting on a countertop
09.27.23
Cory M. Parnell, CPA

Navigating Section 280E: Cash Flow Strategies for Cannabis Dispensaries

Blog
Cannabis
Business Tax

Introduction to 280E and Its Impact on Cannabis Dispensaries In the rapidly growing cannabis industry, navigating financial intricacies is a matter of survival, particularly when faced with the hurdles of...

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glasses sitting on a notepad next to a laptop
09.14.23
Cory M. Parnell, CPA

Electronic Filing of IRS Form 8300: A Comprehensive Overview

Blog
Cannabis
Business Tax

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...

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a cannabis plant with white space to the left
08.18.23
Calvin P. Shannon, CPA, CVA

The Relationship between Section 471(c) & Section 280E in the Cannabis Industry

Blog
Cannabis
Business Tax

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...

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accountants reviewing financial charts and graphs
08.17.23
John Barghini, CPA, MBT

Asset Sale vs. Stock Sale When Selling a Business

Blog
Business Owners
Advisory
Business Tax
Individual Tax & Planning

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...

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minnesota's best choice badge
08.15.23

Boeckermann Grafstrom & Mayer Voted a Minnesota’s Best 2023 Winner

News

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...

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an accountant reviewing financial documents
08.08.23
Cory M. Parnell, CPA

Managing Law Firm Finances with BGM’s Outsourced Accounting Services Group: Cash Flow and Partner Taxable Income

Blog
Law Firms
Outsourced Accounting

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...

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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.

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