News + Insights

You’re probably aware of the 100% bonus depreciation tax break that’s available for a wide range of qualifying property. Here are five important points to be aware of when it...

A federal and or state estate tax liability may be due based on the amount of wealth the decedent accumulated over the decedent’s life. For 2020, a federal estate tax...

On August 14, 2020, the Edina office of Boeckermann Grafstrom & Mayer (BGM) is moving and is joining the Bloomington office location. BGM’s Bloomington office is located at: 4470 W. 78th St....

BLOOMINGTON, MN, August 5, 2020 – 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 the 400 largest firms...

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...