News + Insights

Last week, the Minnesota Legislature passed a bipartisan 2020 tax and bonding bill, which approved $208 million in tax relief by conforming to federal rules related to Section 179 expensing. For 2020,...

If your small business is planning for payroll next year, be aware that the “Social Security wage base” is increasing. The Social Security Administration recently announced that the maximum earnings...

Are you a Minnesota snowbird that heads South to warmer weather for the winter? Do you own multiple properties? Do you wonder if your home is protected when you are...

Boeckermann Grafstrom & Mayer (BGM) is pleased to announce that Calvin P. Shannon, CPA, CVA, has been named Equity Partner at the firm. The promotion was effective on October 1,...

Do you buy or lease computer software to use in your business? Do you develop computer software for use in your business, or for sale or lease to others? Then...

In Notice 2020-71, the IRS recently announced per diem rates that can be used to substantiate the amount of business expenses incurred for travel away from home on or after...

In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical expenses. Are they tax deductible? Under the Tax Cut and Jobs...

Now that we have all gone online to Zoom our book club and Facetime our grandchildren, trends that were developing over the last few years have catapulted to daily use...

To say that most small to midsize businesses have at least considered taking out a loan this year would probably be an understatement. The economic impact of the COVID-19 pandemic...

For a privately-owned company, one of the most basic pieces of corporate governance is a shareholder agreement. For many cannabis companies, unfortunately shareholder agreements are either non-existent or lack appropriate...

Despite the COVID-19 pandemic, the National Association of Realtors (NAR) reports that existing home sales and prices are up nationwide, compared with last year. One of the reasons is the...

You’re probably aware of the 100% bonus depreciation tax break that’s available for a wide range of qualifying property. Here are five important points to be aware of when it...

It is often during difficult times that business owners will encounter fraud in their business. While it’s hard to overstate the impact that fraud can have on a business, it’s...

Too often in cybersecurity, business leaders are forced into the ‘what’ decisions before ever getting an opportunity to understand the ‘why’ behind them. The purchasing conversations with IT start with...

A federal and or state estate tax liability may be due based on the amount of wealth the decedent accumulated over the decedent’s life. For 2020, a federal estate tax...