News + Insights

IPA Logo Top 200Boeckermann 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 400 largest...

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. The current rules Under the current fair market...

Operating a cannabis company across multiple states is no easy feat. Because each state has its own rules around growing, packaging, testing, marketing and more, it’s extremely challenging for operators...

On July 1, 2021, the Minnesota Legislature passed, and Governor Tim Walz signed a 2021 tax bill. The bill includes tax changes related to unemployment compensation, Paycheck Protection Program (PPP) loan...

Outsourced accounting offers a huge benefit to many businesses, both small and large. However, most business owners don’t understand the benefits until year-end when they see the cleanup done of...

Now that we are half-way through the year it is time to assess your business. Mid-year reviews help business owners see how they are doing and adjust to achieve their...

If your business is organized as a sole proprietorship or as a wholly-owned limited liability company (LLC), you’re subject to both income tax and self-employment tax. There may be a...

Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers are properly classified for federal tax purposes. If the IRS...

The May 17 deadline for filing your 2020 individual tax return is coming up soon. It’s important to file and pay your tax return on time to avoid penalties imposed...

Owners of incorporated businesses know that there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason: A corporation can deduct...

The Consolidated Appropriations Act, 2021 (CAA), was signed into law on December 27, 2020, and, with respect to the Employee Retention Credit (ERC), the CAA did two things. First, the...

Per the SECURE Act (a bipartisan bill designed to aid Americans’ ability to save for retirement), a business owner now has until their tax filing deadline to install a 2020...

When it comes to taxes, December 31 is more than just New Year’s Eve. That date will affect the filing status box that will be checked on your 2020 tax...

It is amazing how the daily use of technology in our business has changed what we can accomplish each day. Look at the use of cellphones, tablets, and computers. Each...

At a basic level, Information Technology (IT) Management handles the technological resources used in a company. More specifically, IT Management handles the treatment, storage, and protection of information, a daunting...