News + Insights

We are pleased to announce that Sara Maloney has joined the firm as its Chief Financial Officer. Maloney will direct and oversee the fiscal functions for BGM CPAs and the...

Cannabis businesses face complex tax obligations and need to be mindful of potential IRS audits. The complexities of IRS audits increase due to Section 280E of the Internal Revenue Code...

In today’s economy and environment, it can seem impossible to step away from our businesses to educate, network, and have fun. But sometimes we must make the time. When we...

If you’re in the early stages of exploring cannabis financing or attempting to raise cannabis capital, you’ve probably come across the concept of convertible debt. Cannabis ventures, in particular, tend...

With electronic payments and in-app purchases becoming so much the norm, many midsize to large companies have grown accustomed to software-driven accounts receivable. But there are some smaller businesses that...

Warmer weather, lower costs of living, and the ability to enjoy outdoor activities are all strong considerations making migration south attractive for many retirees. Purchasing a new residence to escape...

The flurry of tax law changes over the last few years has been nothing short of a whirlwind, leaving many of us with whiplash as we make sense of all...

Boeckermann Grafstrom & Mayer (BGM) was recently ranked among the country’s “Top 200 Accounting Firms” by INSIDE Public Accounting (IPA). IPA’s annual rankings of the 500 largest firms in the...

When you take withdrawals from your traditional IRA, you probably know that they’re taxable. But there may be a penalty tax on early withdrawals depending on how old you are...

As anyone in the cannabis or hemp industries knows, preparing for 280e cannabis taxes is a regular—if dreaded—annual (or even quarterly) event. We’ve written about 280E and its implications for...

There’s a valuable tax deduction available to a C corporation when it receives dividends. The “dividends-received deduction” is designed to reduce or eliminate an extra level of tax on dividends...

Boeckermann Grafstrom & Mayer CPAs (BGM) is excited to announce that it is relocating its headquarters to a new location in Bloomington, MN. The new space’s opening date is scheduled...

To thank those Minnesotans who worked on the frontlines during the COVID-19 peacetime emergency, Gov. Tim Walz signed Frontline Worker Payments into law April 29, 2022, enabling those workers to...

This CannaBlog is an update to our previously published article, Depreciation Allowed for Cannabis and CBD Companies on 2020 Tax Returns. If you work in the cannabis sector, you’re probably...

For most people, the word “audit” doesn’t bring many pleasant thoughts to mind. It’s a word that makes you think about pain, embarrassment and annoyance. But business owners shouldn’t be...