News + Insights

IPA Logo Top 200Boeckermann Grafstrom & Mayer (BGM) was recently ranked among the country’s “Top 200 Accounting Firms” by INSIDE Public Accounting (IPA). IPA’s annual rankings of the 400 largest...

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. The current rules Under the current fair market...

No matter the size or shape of a business, one really can’t overstate the importance of sound accounts receivable policies and procedures. Without a strong and steady inflow of cash,...

Operating a cannabis company across multiple states is no easy feat. Because each state has its own rules around growing, packaging, testing, marketing and more, it’s extremely challenging for operators...

Are you eligible to take the deduction for qualified business income (QBI)? Here are 10 facts about this valuable tax break, referred to as the pass-through deduction, QBI deduction, or...

On July 1, 2021, the Minnesota Legislature passed, and Governor Tim Walz signed a 2021 tax bill. The bill includes tax changes related to unemployment compensation, Paycheck Protection Program (PPP) loan...

Married couples may not be able to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take...

Are you age 65 and older and have basic Medicare insurance? You may need to pay additional premiums to get the level of coverage you want. The premiums can be...

For many business owners, putting together a succession plan may seem like an overwhelming task. It might even seem unnecessary for those who are relatively young and have no intention...

Outsourced accounting offers a huge benefit to many businesses, both small and large. However, most business owners don’t understand the benefits until year-end when they see the cleanup done of...

Now that we are half-way through the year it is time to assess your business. Mid-year reviews help business owners see how they are doing and adjust to achieve their...

While we have all been locked up in our houses over the last year, many of us have taken the opportunity to clean a bit. Throwing things out, repurposing things,...

If your business is organized as a sole proprietorship or as a wholly-owned limited liability company (LLC), you’re subject to both income tax and self-employment tax. There may be a...

Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers are properly classified for federal tax purposes. If the IRS...

The May 17 deadline for filing your 2020 individual tax return is coming up soon. It’s important to file and pay your tax return on time to avoid penalties imposed...