News + Insights

IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report, but that’s little consolation if your return is among those selected to be examined. Plus,...

Now that fall is officially here, it’s a good time to start taking steps that may lower your tax bill for this year and next. One of the first planning...

In today’s tough job market and economy, the Work Opportunity Tax Credit (WOTC) may help employers. Many business owners are hiring and should be aware that the WOTC is available...

With the ongoing growth of the cannabis industry, best practices are dynamic, regulations are constantly changing, and dispensaries face tremendous challenges related to profitability and growth. For operators, it is...

Every business owner should establish strong policies, procedures and internal controls to prevent fraud. But don’t stop there. Also be prepared to act if indications arise that, despite your best...

As a result of the current estate tax exemption amount ($12.06 million in 2022), many estates no longer need to be concerned with federal estate tax. Before 2011, a much...

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

The Chief Financial Officer (CFO) is a critical member of a company’s executive team. The CFO develops the company’s financial strategy, manages financial risks, and performs duties such as tracking cash...

Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in the name of the business? You may want to rethink...

High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Here’s an overview of the...

We are pleased to announce that Sara Maloney has joined the firm as its Chief Financial Officer. Maloney will direct and oversee the fiscal functions for BGM CPAs and the...

You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. While experts have varying opinions about whether it will reduce inflation in the near future,...

The Inflation Reduction Act (IRA), signed into law by President Biden on August 16, contains many provisions related to climate, energy and taxes. There has been a lot of media...

Cannabis businesses face complex tax obligations and need to be mindful of potential IRS audits. The complexities of IRS audits increase due to Section 280E of the Internal Revenue Code...

In today’s economy and environment, it can seem impossible to step away from our businesses to educate, network, and have fun. But sometimes we must make the time. When we...