News + Insights

Many business owners generate financial statements, at least in part, because lenders and other stakeholders demand it. You’re likely also aware of how insightful properly prepared financial statements can be...

As we work our way into 2022, there are a couple items in the retirement plan space that you should be aware of, including updates to 401(K) plan contributions, annual...

When it comes to taxes, December 31 is more than just New Year’s Eve. That date will affect the filing status box that will be checked on your 2020 tax...

As 2020 nears a close, now is the time to put yourself and your business in good shape for 2021.  This blog discusses 1099-MISC and 1099-NEC and other expenses and...

It is amazing how the daily use of technology in our business has changed what we can accomplish each day. Look at the use of cellphones, tablets, and computers. Each...

Are you thinking about selling stock shares at a loss to offset gains that you’ve realized during 2020? If so, it’s important not to run afoul of the “wash sale”...

S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will incur losses in its early years because...

At a basic level, Information Technology (IT) Management handles the technological resources used in a company. More specifically, IT Management handles the treatment, storage, and protection of information, a daunting...

While we do not have complete clarity on tax policy under a new president, we can assume that the pressure to raise taxes would have been much greater had the...

As you’ve been perusing your favorite finance and tax blogs or news articles, you have probably come across something like: Disclaimer: This information was correct at the time of publication; however,...

Many people have Series EE savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself and put...

Over the years, the use of outsourced accounting services by small business owners has increased, as companies and business owners have realized the many benefits it provides. There are many...

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...

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,...

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...