News + Insights

You’ve probably heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. Hiring a house cleaner, gardener or other household employee (who...

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for 2021). Wages and self-employment income...

Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have to pay tax on the value of these...

Boeckermann Grafstrom & Mayer (BGM CPAs) is proud to celebrate 40 years of business and serving clients. In 1982, entrepreneurial CPAs Daniel A. Boeckermann, Brad E. Mayer, and James A....

When it comes to sales, most businesses labor under two major mandates: 1) Keep selling to existing customers, and 2) Find new ones. To accomplish the former, your sales staff probably gets...

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...