News + Insights

For businesses, and people for that matter, the beginning of the calendar year can be a bit of a grind. The holidays have passed, summer vacations are relatively far off...

When you file your tax return, a tax filing status must be chosen. This status is used to determine your standard deduction, tax rates, eligibility for certain tax breaks and...

When launching a small business, many entrepreneurs start out as sole proprietors. If you’re launching a venture as a sole proprietorship, you need to understand the tax issues involved. Here...

Businesses of all shapes and sizes are well-advised to buy various forms of insurance to manage operational risks. But insurance itself is far from risk-free. You might overpay for a...

Did you donate to charity last year? Acknowledgment letters from the charities you gave to may have already shown up in your mailbox. But if you don’t receive such a...

The Employee Retention Tax Credit (ERTC) was introduced back when COVID-19 temporarily closed many businesses. The credit provided cash that helped enable struggling businesses to retain employees. Even though the...

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...

As part of the SECURE 2.0 law, there’s a new benefit option for employees facing emergencies. It’s called a pension-linked emergency savings account (PLESA) and the provision authorizing it became...

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...