News + Insights

The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This benefit results in tax deductions for the employer as well as...

Kurt Dingmann and I had an incredible time at the 87th Annual Minnesota Trucking Association Conference on July 30 – August 1 in Alexandria, Minnesota. We caught up with industry friends and...

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...

If you’re lucky enough to be a winner at gambling or the lottery, congratulations! After you celebrate, be ready to deal with the tax consequences of your good fortune. Winning...

Years ago, Congress enacted the “kiddie tax” rules to prevent parents and grandparents in high tax brackets from shifting income (especially from investments) to children in lower tax brackets. And...

A business owner has a variety of issues to consider when planning for the sale of their business. A seller’s first concern is to get the highest sales price for...

The biggest mistake a business owner can make is waiting until the closing to find out how the sale price affects the rest of their life. Yet many do this....

Mergers and acquisitions activity have accelerated significantly in recent years. Companies have liquidity on their balance sheets, are looking to obtain experienced staffing and technology, aging demographics, and tax reform,...

To help defray health care costs, many people now contribute to, or are thinking about setting up, Health Savings Accounts (HSAs). With these accounts, individuals can pay for certain medical...

There’s good news about the Section 179 depreciation deduction for business property. The election has long provided a tax windfall to businesses, enabling them to claim immediate deductions for qualified...

If you’re considering buying or selling a business — or you’re in the process of a merger or acquisition — it’s important that both parties report the transaction to the...

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...

Boeckermann Grafstrom & Mayer (BGM) recently welcomed 13 accounting students from regional colleges and universities who were selected to participate in the firm’s 2019 Summer Experience Program. The day-long program,...