News + Insights

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...

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for 2021). Wages and self-employment income...

Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have to pay tax on the value of these...

Boeckermann Grafstrom & Mayer (BGM CPAs) is proud to celebrate 40 years of business and serving clients. In 1982, entrepreneurial CPAs Daniel A. Boeckermann, Brad E. Mayer, and James A....

When it comes to sales, most businesses labor under two major mandates: 1) Keep selling to existing customers, and 2) Find new ones. To accomplish the former, your sales staff probably gets...

IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report, but that’s little consolation if your return is among those selected to be examined. Plus,...

Now that fall is officially here, it’s a good time to start taking steps that may lower your tax bill for this year and next. One of the first planning...

In today’s tough job market and economy, the Work Opportunity Tax Credit (WOTC) may help employers. Many business owners are hiring and should be aware that the WOTC is available...

With the ongoing growth of the cannabis industry, best practices are dynamic, regulations are constantly changing, and dispensaries face tremendous challenges related to profitability and growth. For operators, it is...

Every business owner should establish strong policies, procedures and internal controls to prevent fraud. But don’t stop there. Also be prepared to act if indications arise that, despite your best...

As a result of the current estate tax exemption amount ($12.06 million in 2022), many estates no longer need to be concerned with federal estate tax. Before 2011, a much...

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may...