News + Insights

As anyone in the cannabis or hemp industries knows, preparing for 280e cannabis taxes is a regular—if dreaded—annual (or even quarterly) event. We’ve written about 280E and its implications for...

Many people wonder how they can save taxes by transferring assets into their children’s names. This tax strategy is called income shifting. It seeks to take income out of your...

Like a slowly gathering storm, inflation has gone from dark clouds on the horizon to a noticeable downpour on both the U.S. and global economies. Is it time for business...

Sales and registrations of electric vehicles (EVs) have increased dramatically in the U.S. in 2022, according to several sources. However, while they’re still a small percentage of the cars on...

If you’ve recently begun receiving disability income, you may wonder how it’s taxed. The answer is: It depends. The key issue is: Who paid for the benefit? If the income...

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

Accounts payable is a critical area of concern for every business. However, as a back-office function, it doesn’t always get the attention it deserves. Once in place, accounts payable processes...

There’s a valuable tax deduction available to a C corporation when it receives dividends. The “dividends-received deduction” is designed to reduce or eliminate an extra level of tax on dividends...

Boeckermann Grafstrom & Mayer CPAs (BGM) is excited to announce that it is relocating its headquarters to a new location in Bloomington, MN. The new space’s opening date is scheduled...

To thank those Minnesotans who worked on the frontlines during the COVID-19 peacetime emergency, Gov. Tim Walz signed Frontline Worker Payments into law April 29, 2022, enabling those workers to...

This CannaBlog is an update to our previously published article, Depreciation Allowed for Cannabis and CBD Companies on 2020 Tax Returns. If you work in the cannabis sector, you’re probably...

The 2017 Tax Cuts and Jobs Act (TCJA) resulted in a rule change for accounting for Research & Experimentation (R & E) expenditures effective for amounts paid or incurred in...

For most people, the word “audit” doesn’t bring many pleasant thoughts to mind. It’s a word that makes you think about pain, embarrassment and annoyance. But business owners shouldn’t be...

The next quarterly estimated tax payment deadline is June 15 for individuals and businesses so it’s a good time to review the rules for computing corporate federal estimated payments. You want...

Many people own Series E and Series EE bonds that were bought many years ago. They may rarely look at them or think about them except on occasional trips to...