News + Insights

Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors: An owner retirement, A lease expiration, Staffing shortages, Partner conflicts, and Increased supply costs. If...

Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself. You may wonder how...

These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in your products or services or sells...

On August 16, 2022, President Joe Biden signed The Inflation Reduction Act of 2022 into law. One of the provisions of the legislation was the additional supplemental funding of $79.6...

As we move through the fall and into the holiday season, I am always reminded how important family is to me. When gathering with family, it causes me to question...

Almost 30 years ago, the United States, United Kingdom, Australia, Canada, and the International Accounting Standards Board published a discussion paper that proposed the elimination of an operating lease. Operating leases were...

My oldest son is a senior in college and starting to interview for his first job. He is in civil engineering and has an awesome resume; COVID did not slow...

Boeckermann Grafstrom & Mayer (BGM CPAs) is pleased to announce that Michael Andrews, CPA, ABV, has joined the firm as Principal and leader of BGM’s Estate and Trust Services Group....

How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently announced cost-of-living adjustments that apply to...

You’ve probably heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. Hiring a house cleaner, gardener or other household employee (who...

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for 2021). Wages and self-employment income...

Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have to pay tax on the value of these...

Boeckermann Grafstrom & Mayer (BGM CPAs) is proud to celebrate 40 years of business and serving clients. In 1982, entrepreneurial CPAs Daniel A. Boeckermann, Brad E. Mayer, and James A....

When it comes to sales, most businesses labor under two major mandates: 1) Keep selling to existing customers, and 2) Find new ones. To accomplish the former, your sales staff probably gets...

IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report, but that’s little consolation if your return is among those selected to be examined. Plus,...