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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. 

02.11.19

When are LLC Members Subject to Self-Employment Tax?

Articles
Business Owners
Business Tax
Individual Tax & Planning

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...

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02.06.19

Financial Statements Tell Your Business’s Story, Inside and Out

Articles
Business Owners
Audit & Assurance

Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their bookkeeping software. Although tracking financial transactions is...

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01.30.19

Refine Your Strategic Plan With SWOT

Articles
Business Owners
Advisory

With the year underway, your business probably has a strategic plan in place for the months ahead. Or maybe you’ve created a general outline but haven’t quite put the finishing...

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01.29.19

Investment Interest Expense is Still Deductible, but That Doesn’t Necessarily Mean You’ll Benefit

Articles
Families
Individual Tax & Planning

As you likely know by now, the Tax Cuts and Jobs Act (TCJA) reduced or eliminated many deductions for individuals. One itemized deduction the TCJA kept intact is for investment...

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01.29.19

What You Need to Know About Loans With Due on Demand Provisions

Blog
Business Owners
Advisory

A borrower should focus on many details when negotiating a loan: What are the payment terms? What is the interest rate? What is securing the debt? Is anyone personally guaranteeing...

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01.29.19

Boeckermann Grafstrom & Mayer Announces New Hires and Promotions

News

BLOOMINGTON, MN, January 29, 2019 – Boeckermann Grafstrom & Mayer (BGM) is pleased to announce that Aaron Wenthold and Leah Radtke have joined BGM’s Bloomington office.  Peter Prevot and Dennis...

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01.09.19

Four Business Functions You Could Outsource Right Now

Articles
Business Owners
Outsourced Accounting
Technology

One thing in plentiful supply in today’s business world is help. Orbiting every industry are providers, consultancies and independent contractors offering a wide array of support services. Simply put, it’s...

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01.04.19

2018 Farm Bill

Blog
Cannabis

President Trump recently signed the 2018 Farm Bill into law. This is not an ordinary farm bill, as the most interesting changes involve the cannabis plant and cannabis is not...

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01.02.19

Economic Damages: Recovering What Was Lost

Articles
Business Owners
Advisory
Audit & Assurance

A business can suffer economic damages arising from a variety of illegal conduct. Common examples include breach of contract, patent infringement and commercial negligence. If your company finds itself headed...

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12.21.18

Business Owners: An Exit Strategy Should be Part of Your Tax Planning

Articles
Business Owners
Advisory

Tax planning is a juggling act for business owners. You have to keep your eye on your company’s income and expenses and applicable tax breaks (especially if you own a...

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12.17.18

Six Last-Minute Tax Moves for Your Business

Articles
Business Owners
Business Tax

Tax planning is a year-round activity, but there are still some year-end strategies you can use to lower your 2018 tax bill. Here are six last-minute tax moves business owners...

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11.28.18

Devote Some Time to Internal Leadership Development

Articles
Business Owners
Advisory

Many factors go into the success of a company. You’ve got to offer high-quality products or services, provide outstanding customer service, and manage your inventory or supply chain. But there’s...

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11.26.18

When Holiday Gifts and Parties are Deductible or Taxable

Articles
Business Owners
Business Tax

The holiday season is a great time for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday parties. Before you begin shopping or...

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11.06.18

Time for NQDC Plan Deferral Elections

Articles
Business Owners
Business Tax

If you’re an executive or other key employee, your employer may offer you a nonqualified deferred compensation (NQDC) plan. As the name suggests, NQDC plans pay employees in the future...

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11.01.18

Change Management Doesn’t Have to be Scary

Articles
Business Owners
Advisory

Business owners are constantly bombarded with terminology and buzzwords. Although you probably feel a need to keep up with the latest trends, you also may find that many of these...

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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.