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Browse BGM’s collective financial knowledge across a wide variety of topics and industry specific insights, as well as the most up to date news on our firm. 

04.29.20

Adjust your Expectations of Business Interruption Coverage

Articles
Business Owners
Audit & Assurance
Advisory

A natural place to turn when disaster strikes is insurance. The very reason you pay premiums and deal with the paperwork is to have these risk management policies in place...

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04.20.20

New COVID-19 Law makes Favorable Changes to “Qualified Improvement Property”

Articles
Business Owners
Business Tax

The law providing relief due to the coronavirus (COVID-19) pandemic contains a beneficial change in the tax rules for many improvements to interior parts of nonresidential buildings. This is referred...

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a state capital building
02.20.20
Nathan B. Panning, CPA

The 2019 SECURE Act: Give a Little, Take a Little More

Newsletter
Business Owners
Families
Retirement 401k

On December 20, 2019, President Trump signed the 715-page Further Consolidated Appropriations Act, which included a clever combination of words to produce the “Setting Every Community Up for Retirement Enhancement”...

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the united states flag
02.20.20
Jon T. Meyer, CFP®

The SECURE Act: Two Changes to Your IRA

Newsletter
Families
Individual Tax & Planning
Retirement 401k

On December 20, 2019, the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) was signed into law. This new law impacts 401(k) plans, college 529 plans,...

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a person pointing to the symbol of a message in the foreground symbolizing email
02.20.20
Element Technologies

Five Steps to Restore Email Sanity

Newsletter
Business Owners
Executives
Families
Technology

Email – we all need to deal with it whether we enjoy it or not. Have you ever really looked at how much time you spend reading, organizing, responding, archiving,...

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an old analog clock next to growing stacks of coins
02.20.20

SECURE Act: Tax Credits for Employers Who Offer Company Retirement Plans

Newsletter
Business Owners
Executives
Business Tax

The SECURE Act passed on December 20, 2019, has broad implications for retirement plans. It requires changes in how we save and take money out of retirement accounts. Also, this...

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02.19.20

How Business Owners may be able to Reduce Tax By Using an S Corporation

Articles
Business Owners
Executives
Advisory
Business Tax

Do you conduct your business as a sole proprietorship or as a wholly owned limited liability company (LLC)? If so, you’re subject to both income tax and self-employment tax. There...

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a person counting cash
01.06.20
Calvin P. Shannon, CPA, CVA

Should your cannabis company consider the cash-basis method of accounting for tax reporting purposes?

Blog
Cannabis
Business Tax

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...

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12.11.19

What’s the Right Device Policy for Your Company?

Articles
Business Owners
Executives
Technology

Device policies pertaining to smartphones and other technology tools continue to frustrate business owners as they try to balance their needs for security and functionality against employees’ rights to privacy...

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12.10.19
Jerome R. Reutzel, CPA, MBT

The Skills You Need for a Career in Accounting

Blog

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...

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12.04.19

What lenders look for in a Succession Plan

Articles
Business Owners
Advisory

Business owners are urged to create succession plans for the good of their families and their employees. But there’s someone else who holds a key interest in the longevity of...

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12.02.19

Boeckermann Grafstrom & Mayer Combines CPA Firms with Weber & Deegan, Ltd. and Majeski Jahnke & Company, LLC

News

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 &...

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a phone with a security app switched on
11.19.19

Make Cybersecurity Part of Your Plan for 2020

Newsletter
Business Owners
Technology

According to industry research, in the first half of 2019 organizations experienced more than 3,800 publicly disclosed breaches exposing 4.1 billion compromised records. Unfortunately, organizations historically have only utilized a...

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a photo of marijuana plants growing indoors
11.19.19

IFRS Biological Assets in the Cannabis Industry

Blog
Cannabis
Advisory

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...

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11.18.19

The Tax Implications if Your Business Engages in Environmental Cleanup

Articles
Business Owners
Business Tax

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....

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“BGM” is the brand name under which BGM CPA, LLC and BGM Group, LLC provide professional services. BGM CPA, LLC and BGM Group, LLC practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations, and professional standards. BGM CPA, LLC is a licensed independent CPA firm that provides attest services to its clients, and BGM Group, LLC and its subsidiary entities provide advisory, and business consulting services to their clients. BGM Group, LLC and its subsidiary entities are not licensed CPA firms. The entities falling under the BGM brand are independently owned and are not liable for the services provided by any other entity providing services under the BGM brand. Our use of the terms “our firm” and “we” and “us” and terms of similar import, denote the alternative practice structure conducted by BGM CPA, LLC and BGM Group, LLC.

BGM WEALTH: Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.