News + Insights

If you’ve recently begun receiving disability income, you may wonder how it’s taxed. The answer is: It depends. The key issue is: Who paid for the benefit? If the income...

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may...

Accounts payable is a critical area of concern for every business. However, as a back-office function, it doesn’t always get the attention it deserves. Once in place, accounts payable processes...

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...

The 2017 Tax Cuts and Jobs Act (TCJA) resulted in a rule change for accounting for Research & Experimentation (R & E) expenditures effective for amounts paid or incurred in...

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...

The next quarterly estimated tax payment deadline is June 15 for individuals and businesses so it’s a good time to review the rules for computing corporate federal estimated payments. You want...

Many people own Series E and Series EE bonds that were bought many years ago. They may rarely look at them or think about them except on occasional trips to...

Keeping up with employment regulations and health care benefits can be a struggle for many small to midsize businesses. One potential solution is engaging a professional employer organization (PEO). PEOs...

The IRS recently released guidance providing the 2023 inflation-adjusted amounts for Health Savings Accounts (HSAs). High inflation rates will result in next year’s amounts being increased more than they have...

While many economic indicators remain strong, the U.S. economy is still giving business owners plenty to think about. The nation’s gross domestic product unexpectedly contracted in the first quarter of...

If you donate valuable items to charity, you may be required to get an appraisal. The IRS requires donors and charitable organizations to supply certain information to prove their right...