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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. 

03.26.24

Update on retirement account required minimum distributions

Articles
Retirees
Retirement 401k

If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax required minimum distribution (RMD) rules after reaching a certain age. If...

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03.25.24

BGM Named to Accounting Today’s “Regional Leaders Top Firms: Midwest” List

News

BGM has been recognized by Accounting Today, making the list of the 2024 “Regional Leaders Top Firms: Midwest.” For the sixth consecutive year, BGM has earned a spot on the...

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03.25.24

Coordinating Sec. 179 tax deductions with bonus depreciation

Articles
Business Owners
Business Tax

Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in achieving this goal: first-year Section 179 depreciation deductions...

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03.20.24

Should your business change its health care plan for next year?

Articles
Business Owners
Business Tax

Open enrollment for most health care plans is many months away. That makes now a good time for businesses to consider changing their employer-sponsored coverage for next year, or perhaps...

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03.19.24

President Biden’s proposed budget highlights his tax agenda

Articles
Business Owners
Individual Tax & Planning
Business Tax

President Biden has released his proposed budget for the 2025 fiscal year, including numerous tax provisions affecting both businesses and individual taxpayers. While most of these provisions have little chance...

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03.18.24

Bartering is a taxable transaction even if no cash is exchanged

Articles
Business Owners
Business Tax

If your small business is strapped for cash (or likes to save money), you may find it beneficial to barter or trade for goods and services. Bartering isn’t new —...

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03.15.24

Webinar: Business Enterprise Excellence: Chaos to Clarity Driven By Fractional CFO

Event
Webinar
Business Owners
Outsourced Accounting

Speakers: Cory Parnell, Patrick Wheeler, Brian Stueve In today’s dynamic business environment, mastering financial complexities is crucial for growth and stability. This session delves into the innovative approach of fractional...

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03.12.24

Beware of a stealth tax on Social Security benefits

Articles
Retirees
Retirement 401k

Some people mistakenly believe that Social Security benefits are always free from federal income tax. Unfortunately, that’s often not the case. In fact, depending on how much overall income you...

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03.12.24
Cory M. Parnell, CPA

The Impact of Recent Legal Challenges on the Corporate Transparency Act

Blog
Business Owners
Advisory

In a significant development that has introduced uncertainty across the business landscape, the Corporate Transparency Act (CTA) is at the heart of constitutional scrutiny. As part of BGM’s commitment to...

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03.11.24

Maximize the QBI deduction before it’s gone

Articles
Business Owners
Business Tax

The qualified business income (QBI) deduction is available to eligible businesses through 2025. After that, it’s scheduled to disappear. So if you’re eligible, you want to make the most of...

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03.06.24

Hot Topic Webinar: Diversifying Business Wealth

Event
Webinar
Business Owners
Wealth Management

This presentation is offered for educational purposes only and should not be considered a comprehensive review or analysis of the topics discussed today. These materials are not a substitute for...

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03.06.24

Empower your sellers with sales enablement

Articles
Business Owners
Advisory

The driving revenue force of just about every kind of business is sales. But all too often, once a sales team is up and running, it’s left to its own...

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03.05.24

Webinar: Trulieve Cannabis Corp. Receives Tax Refunds: What Does This Potentially Mean & What’s Next?

Event
Webinar
Cannabis
Business Tax

This comprehensive session with Greenspoon Marder LLP navigates the complexities of tax refund claims and strategies, inspired by Trulieve’s recent significant tax refund success. This session delves into the intricacies...

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03.05.24

A Job Loss Is Bad But The Tax Implications Could Make It Worse

Articles
Team Members
Individual Tax & Planning

Unemployment has been holding steady recently at 3.7%. But there are still some people losing their jobs — particularly in certain industries including technology and media. If you’re laid off...

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A fractionl CFO working on a computer at her desk.
03.05.24
Cory M. Parnell, CPA

What are Fractional CFO Services?

Blog
Outsourced Accounting

In the dynamic business world, having a seasoned financial strategist can be the difference between thriving and merely surviving. For many start ups, small and medium-sized enterprises, the solution doesn’t...

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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.