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Browse BGM’s collective financial knowledge across a wide variety of topics and industry specific insights, as well as the most up to date news on our firm. 

06.20.24

SECURE 2.0: Which provisions went into effect in 2024?

Articles
Retirement 401k
Individual Tax & Planning

The Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act was signed into law in December 2022, bringing more than 90 changes to retirement plan and tax laws. Many of...

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06.18.24

Social Security tax update: How high can it go?

Articles
Individual Tax & Planning
Retirement 401k

Employees, self-employed individuals and employers all pay Social Security tax, and the amounts can get bigger every year. And yet, many people don’t fully understand the Social Security tax they...

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06.18.24
Nathan B. Panning, CPA

Employee Fringe Benefits Help You Attract Talent

Blog
Business Owners
Business Tax

Employee Fringe Benefits Make Your Company a More Attractive Employer As economic conditions remain unsteady, companies of all sizes are seeking ways to grow without taking on excessive risk. One...

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06.17.24

Minnesota Cannabis Insights – Virtual Event

Event
Cannabis

Date: Tuesday, June 25, 2024 Time: 8:30AM-4:30PM CST Develop a deeper understanding of Minnesota’s most current rules and regulations. Review key areas of the cannabis industry and the latest regulations...

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06.17.24

Hiring your child to work at your business this summer

Articles
Business Owners
Advisory

With school out, you might be hiring your child to work at your company. In addition to giving your son or daughter some business knowledge, you and your child could...

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06.13.24

4 ways businesses can better control cash flow

Articles
Business Owners
Advisory

From the minute they open their doors, business owners are urged to keep a close eye on cash flow. And for good reason — even companies with booming sales can...

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06.11.24

The tax consequences of selling mutual funds

Articles
Advisory

Do you invest in mutual funds or are you interested in putting some money into them? If so, you’re part of a large group. According to the Investment Company Institute,...

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06.10.24

Figuring corporate estimated tax

Articles
Business Owners
Business Tax

The next quarterly estimated tax payment deadline is June 17 for individuals and businesses, so it’s a good time to review the rules for computing corporate federal estimated payments. You want...

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06.10.24

Is Your Business Subject to the New BOI Reporting Rules?

Articles
Business Owners
Business Tax

The Corporate Transparency Act (CTA), effective from January 1, 2024, introduces significant changes in the way businesses report their beneficial ownership information (BOI). These changes are designed to enhance transparency...

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06.10.24
Cory M. Parnell, CPA

Determining Inventory Costs for Your Cannabusiness

Blog
Cannabis
Business Owners
Outsourced Accounting
Business Tax

Since BGM started working with cannabis and hemp companies in 2009, one of the most challenging accounting and tax issues has been determining inventory costs. Determining inventory costs is a...

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06.05.24

Why businesses may want to integrate ESG into strategic planning

Articles
Business Owners
Advisory

When business owners and their leadership teams meet to discuss strategic planning, the primary question on the table is usually something along the lines of, “How can we safely grow...

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06.04.24
Jon T. Meyer, CFP®

What To Do If You Suddenly Come Into A Large Sum of Money?

Blog
Young Inheritors
Business Owners
Wealth Management

Key Takeaway: Whether a business sale, inheritance, or lottery win, coming into money changes your life in fundamental ways. Being purposeful in how you spend it, invest it, and use...

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06.03.24

Inflation enhances the 2025 amounts for Health Savings Accounts

The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These amounts are adjusted each year, based on inflation, and the adjustments are announced earlier...

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05.29.24

Timelines: 3 ways business owners should look at succession planning

Articles
Business Owners
Advisory

Business owners are rightly urged to develop succession plans so their companies will pass on to the next generation, or another iteration of ownership, in a manner that best ensures...

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05.28.24

Should you convert your business from a C to an S corporation?

Articles
Business Owners
Business Tax

Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are sole proprietorships, partnerships, limited liability companies, C corporations and S corporations....

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