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Key Takeaway: Often in life, we can sit back and watch those playing checkers versus chess. Chess players play a longer-term game that is more strategic and has bigger payoffs....

By now, just about every company uses some kind of accounting software to track, manage and report its financial transactions. Many businesses end up using several different types of software...

In the dynamic and ever-changing landscape of the cannabis industry, it is essential for cannabis business owners to constantly seek innovative strategies to enhance growth and increase stability. One option...

Businesses basically have two accounting methods to figure their taxable income: cash and accrual. Many businesses have a choice of which method to use for tax purposes. The cash method...

MINNEAPOLIS, January 25, 2024 — BGM, a leading CPA, advisory, and financial solutions firm in the Twin Cities, is pleased to announce that Nathan Panning has been promoted to lead...

What Is the 65-Day Rule in Tax Planning? The 65-Day Rule, found in Tax Code 663(b), allows fiduciaries to make distributions within the first 65 days of the new tax...

There’s no way around it — owning and operating a business comes with risk. On the one hand, operating under excessive levels of risk will likely impair the value of...

When it comes to marketing, business owners and their leadership teams often assume that they should “cast a wide net.” But should you? If your company is looking to drive...

The IRS announced it will open the 2024 income tax return filing season on January 29. That’s when the tax agency will begin accepting and processing 2023 tax year returns....

5 Reasons to Outsource Accounting for Cannabis Operators The cannabis sector is a rapidly evolving landscape, with shifts in market conditions and regulations requiring businesses to be adaptable and efficient....

Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea. Tax-free treatment for eligible stock gains QSBCs are the same as garden-variety C corporations...

How much depreciation is allowed for cannabis companies? The answer depends on several factors: For retail cannabis companies, depreciation is generally not allowed, with potentially some small exceptions For cultivation...

Understanding the crucial role of HR and payroll services in the success and efficiency of your business is essential. This comprehensive session will dive into the essential benefits of choosing...

The so-called “kiddie tax” can cause some of a child’s unearned income to be taxed at the parent’s higher marginal federal income tax rates instead of at the usually much...

In 2020, the government responded to the COVID-19 pandemic by passing the CARES Act, which included a refundable tax credit known as the Employee Retention Credit (ERC). This credit enabled...