News + Insights

If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the...

As you may know, you can’t keep funds in your traditional IRA indefinitely. You have to start taking withdrawals from a traditional IRA (including a SIMPLE IRA or SEP IRA)...

These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What makes intangibles so complicated? IRS regulations require the capitalization of costs to:...

Now that Labor Day has passed, it’s a good time to think about making moves that may help lower your small business taxes for this year and next. The standard...

The holiday season is here and many people plan to donate to their favorite charities or give money or assets to their loved ones before the end of the year....

Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors: An owner retirement, A lease expiration, Staffing shortages, Partner conflicts, and Increased supply costs. If...

Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself. You may wonder how...

These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in your products or services or sells...

On August 16, 2022, President Joe Biden signed The Inflation Reduction Act of 2022 into law. One of the provisions of the legislation was the additional supplemental funding of $79.6...

As we move through the fall and into the holiday season, I am always reminded how important family is to me. When gathering with family, it causes me to question...

Almost 30 years ago, the United States, United Kingdom, Australia, Canada, and the International Accounting Standards Board published a discussion paper that proposed the elimination of an operating lease. Operating leases were...

My oldest son is a senior in college and starting to interview for his first job. He is in civil engineering and has an awesome resume; COVID did not slow...

Boeckermann Grafstrom & Mayer (BGM CPAs) is pleased to announce that Michael Andrews, CPA, ABV, has joined the firm as Principal and leader of BGM’s Estate and Trust Services Group....

How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently announced cost-of-living adjustments that apply to...

You’ve probably heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. Hiring a house cleaner, gardener or other household employee (who...