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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. 

12.19.23

Court awards and out-of-court settlements may (or may not) be taxed

Articles
Attorneys
Law Firms
Advisory

Monetary awards and settlements are often provided for an array of reasons. For example, a person could receive compensatory and punitive damage payments for personal injury, discrimination or harassment. Some...

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12.19.23
Cory M. Parnell, CPA

Cannabis Industry Predictions for 2024

Blog
Cannabis
Advisory

Let’s look at the latest insights and 2024 predictions for the cannabis industry. This blog addresses the changing landscape, including regulatory shifts and market opportunities. Continue reading to explore the...

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12.18.23

2024 Q1 tax calendar: Key deadlines for businesses and other employers

Articles
Business Owners
Business Tax

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may...

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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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