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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. 

01.25.24
Leah Radtke

BGM Promotes Nathan Panning to Lead Tax Group

News
Business Tax
Individual Tax & Planning

MINNEAPOLIS, January 25, 2024 — BGM, a leading CPA, advisory, and financial solutions firm in the Twin Cities, is pleased to announce that Nathan Panning has been promoted to lead...

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sand falling through an hourglass
01.25.24
Michael Andrews, CPA, ABV

The 65-Day Rule: Post Year-End Tax Planning for Estates and Certain Trusts

Blog
Estate and Trust

What Is the 65-Day Rule in Tax Planning? The 65-Day Rule, found in Tax Code 663(b), allows fiduciaries to make distributions within the first 65 days of the new tax...

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01.24.24

Seeing the big picture with an enterprise risk management program

Articles
Business Owners
Business Tax

There’s no way around it — owning and operating a business comes with risk. On the one hand, operating under excessive levels of risk will likely impair the value of...

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01.22.24

Should your business offer the new emergency savings accounts to employees?

Articles
Business Owners
Business Tax

As part of the SECURE 2.0 law, there’s a new benefit option for employees facing emergencies. It’s called a pension-linked emergency savings account (PLESA) and the provision authorizing it became...

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01.17.24

Account-based marketing can help companies rejoice in ROI

Articles
Business Owners
Advisory

When it comes to marketing, business owners and their leadership teams often assume that they should “cast a wide net.” But should you? If your company is looking to drive...

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01.16.24

Answers to your tax season questions

Articles
Business Owners
Families
Business Tax
Individual Tax & Planning

The IRS announced it will open the 2024 income tax return filing season on January 29. That’s when the tax agency will begin accepting and processing 2023 tax year returns....

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01.15.24
Cory M. Parnell, CPA

Why Outsource Cannabis Accounting?

Blog
Cannabis
Outsourced Accounting

5 Reasons to Outsource Accounting for Cannabis Operators The cannabis sector is a rapidly evolving landscape, with shifts in market conditions and regulations requiring businesses to be adaptable and efficient....

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01.15.24

Tax-favored Qualified Small Business Corporation status could help you thrive

Articles
Business Owners
Business Tax

Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea. Tax-free treatment for eligible stock gains QSBCs are the same as garden-variety C corporations...

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01.10.24
Calvin P. Shannon, CPA, CVA

Depreciation Allowed for Cannabis Companies on Tax Returns

Blog
Cannabis
Business Tax

How much depreciation is allowed for cannabis companies? The answer depends on several factors: For retail cannabis companies, depreciation is generally not allowed, with potentially some small exceptions For cultivation...

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01.10.24

Did your business buy the wrong software?

Articles
Business Owners
Advisory

No one likes to make a mistake. This is especially true in business, where a wrong decision can cost money, time and resources. According to the results of a recent...

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01.09.24

BGM Solutions: Strategies and Services to Address HR and Payroll Challenges

Event
Webinar
Outsourced Accounting

Understanding the crucial role of HR and payroll services in the success and efficiency of your business is essential. This comprehensive session will dive into the essential benefits of choosing...

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01.09.24

The kiddie tax could affect your children until they’re young adults

Articles
Families
Family Office

The so-called “kiddie tax” can cause some of a child’s unearned income to be taxed at the parent’s higher marginal federal income tax rates instead of at the usually much...

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2024 Economic Update
01.09.24

Hot Topic: Q1 2024 Economic Update

Event
Wealth Management

Wednesday, January 24, 2024 at 12:00 PM CT Where will interest rates take us in the first quarter of 2024? What impact will elections have on the economy? Are recession...

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01.08.24
Nathan B. Panning, CPA

Amending Tax Returns After Receiving the Employee Retention Credit

Blog
Business Owners
Business Tax

In 2020, the government responded to the COVID-19 pandemic by passing the CARES Act, which included a refundable tax credit known as the Employee Retention Credit (ERC). This credit enabled...

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01.03.24

Perform an operational review to see how well your business is running

Articles
Business Owners
Business Tax

In the wide, wide world of mergers and acquisitions (M&A), most business buyers conduct thorough due diligence before closing their deals. This usually involves carefully investigating the target company’s financial,...

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