News + Insights

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...

All good business plans require a financial projection. Creating a financial projection is both an art and a science. A financial projection will include projected sales, budgeted expenses, a balance...

BLOOMINGTON, MN, June 12, 2019 – Boeckermann Grafstrom & Mayer (BGM) is pleased to announce that Nickie Wiatrak and Molly Sandbulte have joined the firm’s Bloomington office, as members of...

Summer is just around the corner, so you might be thinking about getting some vacation time. If you’re self-employed or a business owner, you have a golden opportunity to combine...

Roth 401(k) accounts have been around for 13 years now. Studies show that more employers are offering them each year. A recent study by the Plan Sponsor Council of America...

It takes a long time to get what we want. Most successful people will tell you that they started experiencing success in their mid-40s or early 50s. Even 99% of...

BLOOMINGTON, MN, March 25, 2019 – Boeckermann Grafstrom & Mayer (BGM) announced today that it has officially formed a Family Office Services Group to serve the business and personal needs...

“I could sell water to a whale.” Indeed, most salespeople possess an abundance of confidence. One could say it’s a prerequisite for the job. Because of their remarkable self-assurance, sales...

Incentive stock options (ISOs) are a popular form of compensation for executives and other employees of corporations. They allow you to buy company stock in the future at a fixed...

Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for services in the form of guaranteed payments — aren’t subject to...