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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. 

12.13.23

Businesses: Do you have to comply with the new corporate transparency reporting rules?

Articles
Business Owners
Business Tax

Your business may soon have to meet new reporting requirements that take effect on January 1, 2024. Under the Corporate Transparency Act (CTA), enacted in 2021, certain companies will be required...

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12.12.23

The “nanny tax” must be paid for nannies and other household workers

Articles
Families
Family Office

You may have heard of the “nanny tax.” But if you don’t employ a nanny, you may think it doesn’t apply to you. Check again. Hiring a housekeeper, gardener or...

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12.11.23

Giving gifts and throwing parties can help show gratitude and provide tax breaks

Articles
Business Owners
Business Tax

The holiday season is here. During this festive season, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties. It’s...

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12.11.23
Cory M. Parnell, CPA

Boosting Cannabis Retail Performance: A 10-Step Guide

Blog
Business Owners
Cannabis
Advisory

To stay competitive, cannabis businesses must adopt a strategic approach as the industry grows and changes. In this blog, we’ll explore ten areas where improvements can boost retail performance and...

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12.06.23

Is your business underestimating the value of older workers?

Articles
Business Owners
Advisory

The job market remains relatively tight for businesses looking to fill open positions or simply add top talent when the fit is right. That means it’s still important for companies to...

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12.05.23

4 ideas that may help reduce your 2023 tax bill

Articles
Families
Executives
Individual Tax & Planning

If you’re concerned about your 2023 tax bill, there may still be time to reduce it. Here are four quick strategies that may help you trim your taxes before year...

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12.04.23

A company car is a valuable perk but don’t forget about taxes

Articles
Business Owners
Business Tax

One of the most appreciated fringe benefits for owners and employees of small businesses is the use of a company car. This perk results in tax deductions for the employer...

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12.04.23

Minnesota’s Cannabis Law Landscape: Market Insights & Key Takeaways from Our Recent Event

Blog
Cannabis
Business Owners
Advisory

As Minnesota’s cannabis market continues to grow and evolve, the recent in-person event, “Minnesota Cannabis Market Insights: Discover Key Steps to Take Now” provided an invaluable platform to discuss the...

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11.29.23

Solving the riddles of succession planning for family businesses

Articles
Business Owners
Family Office

Every established company will encounter challenges when confronting the thorny issue of succession planning. Family-owned businesses, however, often face particularly complex issues. After all, their owners may have to consider...

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11.28.23

Don’t forget to empty out your flexible spending account

Articles
Families
Healthcare
Family Office
Individual Tax & Planning

If you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses, there’s an important date coming up. You may have...

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11.22.23

Smaller companies: Explore pooled employer plans for retirement benefits

Articles
Business Owners
Business Tax
Retirement 401k

Most businesses today need to offer a solid benefits package. Failing to do so could mean falling behind in the competition to hire and retain talent in today’s tight job market....

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11.21.23

Key 2024 inflation-adjusted tax amounts for individuals

Articles
Families
Retirees
Young Inheritors
Individual Tax & Planning

The IRS recently announced various 2024 inflation-adjusted federal tax amounts that affect individual taxpayers. Most of the federal income tax rate bracket thresholds are about 5.4% higher than for 2023....

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11.14.23
John Barghini, CPA, MBT

Unlocking Transparency: Navigating the New Small Business Reporting Frontier

Newsletter
Business Owners
Business Tax
Beneficial Ownership Information Filing (BOI)

Starting January 1, 2024, many businesses will be required to file a Beneficial Ownership Information (BOI) report with the Financial Crimes Enforcement Network (FinCEN). The BOI reporting requirement is an...

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11.14.23
Jon T. Meyer, CFP®

When Diversification Fails

Newsletter
Advisory
Wealth Management

Key Takeaway: Diversification is often thought to yield better results in many aspects of life. With an investment portfolio, the concept is key. However, diversifying your advisors might lead to...

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11.14.23
Leonetta Rence, CTFA

Looking to Retain Key Talent or Attract New Hires in Today’s Competitive Job Market? We Have a Solution for You

Newsletter
Business Owners
Trusts

In the dynamic landscape of today’s workforce, the pursuit of effective strategies to retain valuable employees and attract new talent is more critical than ever. Enter the realm of Non-Qualified...

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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.