News + Insights

There is an old saying in the accounting world that goes, “If you don’t know what your costs are, you will pretty soon.” That is what is going on with...

The best place to start trying to answer this question may be a quick review of the basics of tax accounting methods. An accounting method is a set of rules...

Recently, I had the opportunity to speak with students at Lincoln High School in Lake City, Minnesota about accounting careers. I have enjoyed meeting with students since my elementary school...

BLOOMINGTON, MN, December 2, 2019 – Boeckermann Grafstrom & Mayer (BGM), a nationally recognized top 200 accounting firm, announced today that they have combined firms with Edina-based CPA firm, Weber &...

In the cannabis industry, the current trend is going public on a Canadian stock exchange through a reverse merger. Going public provides access to vast amounts of funding and high...

If your company faces the need to “remediate” or clean up environmental contamination, the money you spend can be deductible on your tax return as ordinary and necessary business expenses....

With the holidays close at hand, now may be a good time to review the gifting rules in play for 2019 to see if changes are needed to any gifting...

You’d be hard pressed to find a business today that doesn’t have laptop computers listed among its assets. Large companies have hundreds of them; midsize ones issue them to managers...

As cannabis companies continue to move to the public markets in Canada, high quality inventory records become much more important. Not only is there greater disclosure and scrutiny of financial...

Do you want to withdraw cash from your closely held corporation at a low tax cost? The easiest way is to distribute cash as a dividend. However, a dividend distribution...

BLOOMINGTON, MN, August 7, 2019 – 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...

All good business plans require a financial projection. Creating a financial projection is both an art and a science. A financial projection will include projected sales, budgeted expenses, a balance...

BLOOMINGTON, MN, June 12, 2019 – Boeckermann Grafstrom & Mayer (BGM) is pleased to announce that Nickie Wiatrak and Molly Sandbulte have joined the firm’s Bloomington office, as members of...

Summer is just around the corner, so you might be thinking about getting some vacation time. If you’re self-employed or a business owner, you have a golden opportunity to combine...

Roth 401(k) accounts have been around for 13 years now. Studies show that more employers are offering them each year. A recent study by the Plan Sponsor Council of America...