News + Insights

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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. 

10.17.23
Leah Radtke

Announcing BGM

News

Boeckermann Grafstrom & Mayer, BGM Wealth Partners, and Bridge West Weave Together their Talents to form BGM, Introducing New Brand and Website MINNEAPOLIS, October 18, 2023— Boeckermann Grafstrom & Mayer,...

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10.12.23
Calvin P. Shannon, CPA, CVA

Decoding Section 280E: Impact on the Legal Landscape of Cannabis Businesses

Blog
Cannabis
Advisory
Business Tax

As the cannabis industry flourishes, a complex set of regulations and tax codes has emerged, shaping the financial landscape for businesses operating in this dynamic sector. Among these regulations is...

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10.11.23

A refresher on the trust fund recovery penalty for business owners and executives

Articles
Business Owners
Executives
Trusts

One might assume the term “trust fund recovery penalty” has something to do with estate planning. It’s important for business owners and executives to know better. In point of fact, the...

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10.10.23

The tax implications of renting out a vacation home

Articles
Families
Individual Tax & Planning

Many Americans own a vacation home or aspire to purchase one. If you own a second home in a waterfront community, in the mountains or in a resort area, you...

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10.09.23

How IRS auditors learn about your business industry

Articles
Business Owners
Audit & Assurance

Ever wonder how IRS examiners know about different industries so they can audit various businesses? They generally do research about specific industries and issues on tax returns by using IRS...

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10.04.23

Could value-based sales boost your company’s bottom line?

Articles
Business Owners
Business Tax

If your company sells products or services to other businesses, you’re probably familiar with the challenge of growing your sales numbers. At times, you might even struggle to maintain them. One...

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10.03.23

Casualty loss tax deductions may help disaster victims in certain cases

Articles
Families
Individual Tax & Planning

This year, many Americans have been victimized by wildfires, severe storms, flooding, tornadoes and other disasters. No matter where you live, unexpected disasters may cause damage to your home or...

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a business professional holding a phone looking towards the camera
09.27.23

Business owners: Think carefully about fringe benefits related to smartphones

Articles
Business Owners
Business Tax

You’d be hard-pressed to find many employees these days who don’t use smartphones for some aspect of their jobs. Even someone who works behind a point-of-sale device may use a...

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09.27.23
Cory M. Parnell, CPA

Navigating Section 280E: Cash Flow Strategies for Cannabis Dispensaries

Blog
Cannabis
Business Tax

Introduction to 280E and Its Impact on Cannabis Dispensaries In the rapidly growing cannabis industry, navigating financial intricacies is a matter of survival, particularly when faced with the hurdles of...

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09.26.23

What are the tax implications of winning money or valuable prizes?

Articles
Families
Retirees
Individual Tax & Planning

If you gamble or buy lottery tickets and you’re lucky enough to win, congratulations! After you celebrate, be aware that there are tax consequences attached to your good fortune. Winning...

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a calendar showing October, November, and December
09.25.23

2023 Q4 tax calendar: Key deadlines for businesses and other employers

Articles
Business Owners
Business Tax

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may...

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Employee retention tax credit banner image
09.19.23

IRS suspends processing of ERTC claims

Articles
Business Owners
Business Tax

In the face of a flood of illegitimate claims for the Employee Retention Tax Credit (ERTC), the IRS has imposed an immediate moratorium through at least the end of 2023...

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glasses sitting on a notepad next to a laptop
09.14.23
Cory M. Parnell, CPA

Electronic Filing of IRS Form 8300: A Comprehensive Overview

Blog
Cannabis
Business Tax

In an ever-increasing digital world, the IRS continues transitioning its operations toward more efficient and secure methods. As a recent step in this direction, the IRS announced that starting January...

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09.06.23

Moving Cannabis to Schedule III Would Be a Game-Changing Win for Common Sense (Op-Ed)

Blog
Cannabis
Advisory

It is exciting to consider the possibility that the Drug Enforcement Administration (DEA) may follow the U.S. Department of Health and Human Serivces’s (HHS) recommendation to reclassify cannabis from a...

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08.18.23
Calvin P. Shannon, CPA, CVA

The Relationship between Section 471(c) & Section 280E in the Cannabis Industry

Blog
Cannabis
Business Tax

The evolving landscape of the cannabis industry in the United States has led to numerous legal and financial challenges. A critical issue that requires close attention is the interaction between...

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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.