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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. 

10.25.23

Minnesota Cannabis Market Insights: Discover Key Steps to Take Now

Event
Webinar
Cannabis

Wednesday, November 15, 2023 at 4:00 PM – 6:00 PM CT Discover the Flourishing Cannabis Landscape of Minnesota! Join us for a deep dive into the promising cannabis market in...

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a business office building
10.24.23

What businesses can expect from a green lease

Articles
Business Owners
Business Tax

With events related to climate change continuing to rock the news cycle, many business owners are looking for ways to lessen their companies’ negative environmental impact. One move you may...

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a banner image saying tax deducible
10.24.23

What types of expenses can’t be written off by your business?

Articles
Business Owners
Business Tax

If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. For example, the tax...

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10.24.23

Facing a future emergency? Two new tax provisions may soon provide relief

Articles
Families
Individual Tax & Planning

Perhaps you’ve been in this situation before: You have a financial emergency and need to get your hands on some cash. You consider taking money out of a traditional IRA...

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10.23.23

The Social Security wage base for employees and self-employed people is increasing in 2024

Articles
Business Owners
Business Tax

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $168,600 for 2024 (up from $160,200 for 2023). Wages and self-employment income...

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10.17.23
Leah Radtke

Announcing BGM

News

Boeckermann Grafstrom & Mayer, BGM Wealth Partners, and Bridge West Weave Together their Talents to form BGM, Introducing New Brand and Website MINNEAPOLIS, October 18, 2023— Boeckermann Grafstrom & Mayer,...

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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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10.11.23

A refresher on the trust fund recovery penalty for business owners and executives

Articles
Business Owners
Executives
Trusts

One might assume the term “trust fund recovery penalty” has something to do with estate planning. It’s important for business owners and executives to know better. In point of fact, the...

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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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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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10.04.23

Could value-based sales boost your company’s bottom line?

Articles
Business Owners
Business Tax

If your company sells products or services to other businesses, you’re probably familiar with the challenge of growing your sales numbers. At times, you might even struggle to maintain them. One...

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10.03.23

Casualty loss tax deductions may help disaster victims in certain cases

Articles
Families
Individual Tax & Planning

This year, many Americans have been victimized by wildfires, severe storms, flooding, tornadoes and other disasters. No matter where you live, unexpected disasters may cause damage to your home or...

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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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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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09.26.23

What are the tax implications of winning money or valuable prizes?

Articles
Families
Retirees
Individual Tax & Planning

If you gamble or buy lottery tickets and you’re lucky enough to win, congratulations! After you celebrate, be aware that there are tax consequences attached to your good fortune. Winning...

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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.