News + Insights

Key Takeaway: Too often, I meet people in January who, if I had met in December, could have had a better outcome. The change in the tax year from December...

The Inflation Reduction Act (IRA), enacted in 2022, created several tax credits aimed at promoting clean energy. You may want to take advantage of them before it’s too late. On the...

As the end of the year approaches, many business owners start thinking about ways to reduce their tax liabilities for the current tax year. One common strategy is purchasing new...

The concept of the Corporate Veil is anchored in the principle of limited liability and has been a cornerstone of corporate law for centuries. Originating in English common law, this...

As the end of the year draws near, savvy taxpayers look for ways to reduce their tax bills. This year, the sense of urgency is higher for many because of...

President-Elect Donald Trump will return to the White House in 2025 — a year that already was expected to see significant activity on the federal tax front. A projected unified...

Properly prepared financial statements provide a wealth of information about your company. But the operative words there are “properly prepared.” Classifying information accurately isn’t always easy — especially as the...

Picture this: It’s April, and your tax preparer has sent you your tax return link with a note saying, “Please call me before opening.” You open without calling and are...

How much can you and your employees contribute to your 401(k)s or other retirement plans next year? In Notice 2024-80, the IRS recently announced cost-of-living adjustments that apply to the...

The outcome of the November 5 election is likely to significantly impact taxes. Many provisions in President-elect Donald Trump’s signature tax legislation from his first time in the White House, the...

The IRS has issued its 2025 inflation-adjusted contribution amounts for retirement plans in Notice 2024-80. Many retirement-plan-related limits will increase for 2025 — but less than in prior years. Thus, depending...

In response to the significant challenges posed by recent natural disasters, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has granted extended deadlines for certain victims of...

Hiring household help, whether you employ a nanny, housekeeper or gardener, can significantly ease the burden of childcare and daily chores. However, as a household employer, it’s critical to understand...

As a business owner, you may travel to visit customers, attend conferences, check on vendors and for other purposes. Understanding which travel expenses are tax deductible can significantly affect your...

As the 2024 election approaches, BGM recognizes the pivotal role it could play in shaping the future of cannabis legalization across the United States. Matthew Schweich, the Executive Director of the...