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Browse BGM’s collective financial knowledge across a wide variety of topics and industry specific insights, as well as the most up to date news on our firm. 

10.26.20

DRUG ENFORCEMENT AGENCY INTERIM FINAL RULE ON HEMP Q&A

Blog
Cannabis
Advisory

What is the DEA Interim Final Rule (IFR) on Hemp? On August 20, 2020, the United States Drug Enforcement Agency (DEA) published a notice in the federal register of an...

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the Minnesota capital building
10.19.20
Mark Cossette, CPA

Minnesota Legislature Passes Tax and Bonding Bill

Blog
Business Owners
Families
Business Tax
Individual Tax & Planning

Last week, the Minnesota Legislature passed a bipartisan 2020 tax and bonding bill, which approved $208 million in tax relief by conforming to federal rules related to Section 179 expensing. For 2020,...

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10.19.20

The 2021 “Social Security wage base” is increasing

Articles
Business Owners
Families
Individual Tax & Planning
Business Tax

If your small business is planning for payroll next year, be aware that the “Social Security wage base” is increasing. The Social Security Administration recently announced that the maximum earnings...

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sandals, a sunhat, and a shell on a beach
10.14.20

5 Reasons Minnesota Snowbirds Should Hire a Professional Property Manager

Blog
Families
Family Office

Are you a Minnesota snowbird that heads South to warmer weather for the winter? Do you own multiple properties? Do you wonder if your home is protected when you are...

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10.12.20

Boeckermann Grafstrom & Mayer Names Calvin Shannon Equity Partner

News

Boeckermann Grafstrom & Mayer (BGM) is pleased to announce that Calvin P. Shannon, CPA, CVA, has been named Equity Partner at the firm. The promotion was effective on October 1,...

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09.28.20

The tax rules for deducting the computer software costs of your business

Articles
Business Owners
Business Tax
Technology

Do you buy or lease computer software to use in your business? Do you develop computer software for use in your business, or for sale or lease to others? Then...

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09.23.20

IRS announces per diem rates for business travel

Articles
Business Owners
Business Tax

In Notice 2020-71, the IRS recently announced per diem rates that can be used to substantiate the amount of business expenses incurred for travel away from home on or after...

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09.22.20

Can investors who manage their own portfolios deduct related expenses?

Articles
Families
Individual Tax & Planning

In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical expenses. Are they tax deductible? Under the Tax Cut and Jobs...

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A person pointing to a graphic of a lick in the foreground symbolizing cyber security
09.19.20
Jon T. Meyer, CFP®

Cyber and Financial Security in the Age of COVID-19

Newsletter
Business Owners
Families
Executives
Technology

Now that we have all gone online to Zoom our book club and Facetime our grandchildren, trends that were developing over the last few years have catapulted to daily use...

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09.16.20

Weighing the risks vs. rewards of a mezzanine loan

Articles
Business Owners
Advisory

To say that most small to midsize businesses have at least considered taking out a loan this year would probably be an understatement. The economic impact of the COVID-19 pandemic...

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a cannabis leaf sitting on us dollars
09.10.20

Shareholder Agreements for a Cannabis Company

Blog
Cannabis
Business Owners
Advisory

For a privately-owned company, one of the most basic pieces of corporate governance is a shareholder agreement. For many cannabis companies, unfortunately shareholder agreements are either non-existent or lack appropriate...

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09.08.20

Homebuyers: Can you deduct seller-paid points?

Articles
Families
Individual Tax & Planning

Despite the COVID-19 pandemic, the National Association of Realtors (NAR) reports that existing home sales and prices are up nationwide, compared with last year. One of the reasons is the...

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08.31.20

5 Key Points about Bonus Depreciation

Articles
Business Owners
Families
Business Tax
Individual Tax & Planning

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...

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cash in a cash register
08.19.20
Dane J. Boeckermann, CPA

The Importance of Internal Controls for Business Fraud Protection

Newsletter
Business Owners
Executives
Advisory
Audit & Assurance

It is often during difficult times that business owners will encounter fraud in their business. While it’s hard to overstate the impact that fraud can have on a business, it’s...

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the map of the world with a lock overtop of it symbolizing cyber security
08.19.20

Cybersecurity 101: Back to the Basics

Newsletter
Business Owners
Executives
Families
Technology

Too often in cybersecurity, business leaders are forced into the ‘what’ decisions before ever getting an opportunity to understand the ‘why’ behind them. The purchasing conversations with IT start with...

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“BGM” is the brand name under which BGM CPA, LLC and BGM Group, LLC provide professional services. BGM CPA, LLC and BGM Group, LLC practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations, and professional standards. BGM CPA, LLC is a licensed independent CPA firm that provides attest services to its clients, and BGM Group, LLC and its subsidiary entities provide advisory, and business consulting services to their clients. BGM Group, LLC and its subsidiary entities are not licensed CPA firms. The entities falling under the BGM brand are independently owned and are not liable for the services provided by any other entity providing services under the BGM brand. Our use of the terms “our firm” and “we” and “us” and terms of similar import, denote the alternative practice structure conducted by BGM CPA, LLC and BGM Group, LLC.

BGM WEALTH: Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.