News + Insights

Access Our Wealth of Knowledge

coffee and newspaper

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. 

03.13.18

Casualty Losses Can Provide a 2017 Deduction, but Rules Tighten for 2018

Articles
Families
Individual Tax & Planning

If you suffered damage to your home or personal property last year, you may be able to deduct these “casualty” losses on your 2017 federal income tax return. For 2018...

Read More
03.12.18

Make Sure Repairs to Tangible Property Were Actually Repairs Before You Deduct the Cost

Articles
Business Owners
Business Tax

Repairs to tangible property, such as buildings, machinery, equipment or vehicles, can provide businesses a valuable current tax deduction — as long as the so-called repairs weren’t actually “improvements.” The...

Read More
03.07.18

Seven Ways to Prepare Your Business for Sale

Articles
Business Owners
Advisory
Audit & Assurance
Technology

For some business owners, succession planning is a complex and delicate matter involving family members and a long, gradual transition out of the company. Others simply sell the business and...

Read More
02.27.18

What’s Your Mileage Deduction?

Articles
Families
Individual Tax & Planning

Individuals can deduct some vehicle-related expenses in certain circumstances. Rather than keeping track of the actual costs, you can use a standard mileage rate to compute your deductions. For 2017,...

Read More
02.20.18

Tax Credit For Hiring From Certain “Target Groups” Can Provide Substantial Tax Savings

Articles
Business Owners
Business Tax

Many businesses hired in 2017, and more are planning to hire in 2018. If you’re among them and your hires include members of a “target group,” you may be eligible...

Read More
02.14.18

Use Benchmarking to Swim With the Big Fish

Articles
Business Owners
Advisory

You may keep a wary eye on your competitors, but sometimes it helps to look just a little bit deeper. Even if you’re a big fish in your pond, someone...

Read More
02.07.18

Turning Employee Ideas Into Profitable Results

Articles
Business Owners
Advisory

Many businesses train employees how to do their jobs and only their jobs. But amazing things can happen when you also teach staff members to actively involve themselves in a...

Read More
02.06.18

TCJA Temporarily Lowers Medical Expense Deduction Threshold

Articles
Families
Individual Tax & Planning

With rising health care costs, claiming whatever tax breaks related to health care that you can is more important than ever. But there’s a threshold for deducting medical expenses that...

Read More
01.24.18

Light a Beacon to Your Business With a Mission Statement

Articles
Business Owners
Advisory

Every company, big or small, should have a mission statement. Why? When carefully conceived and well written, a mission statement can serve as a beacon to the world — letting...

Read More
01.22.18

Meals, Entertainment and Transportation May Cost Businesses More Under the TCJA

Articles
Business Owners
Business Tax

Along with tax rate reductions and a new deduction for pass-through qualified business income, the new tax law brings the reduction or elimination of tax deductions for certain business expenses....

Read More
01.16.18

Personal Exemptions and Standard Deductions and Tax Credits, Oh My!

Articles
Families
Individual Tax & Planning

Under the Tax Cuts and Jobs Act (TCJA), individual income tax rates generally go down for 2018 through 2025. But that doesn’t necessarily mean your income tax liability will go...

Read More
01.02.18

Most Individual Tax Rates Go Down Under the TCJA

Articles
Families
Individual Tax & Planning

The Tax Cuts and Jobs Act (TCJA) generally reduces individual tax rates for 2018 through 2025. It maintains seven individual income tax brackets but reduces the rates for all brackets...

Read More
father and son sit on couch looking at laptop
08.11.17

Fair Is Not Equal: Giving Your Kids Money

Blog
Families
Family Office
Wealth Management

Key Takeaway: In giving money to our children, we may feel that we need to keep the giving equal. But doing this can multiply the dollars given to the point...

Read More

“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.