Blog

Becky Gibbs | Aug. 28, 2024

Practical Accounting Practices for Companies Using Factoring

Factoring can be a game-changer for businesses looking to improve their cash flow. By selling receivables to a factoring company,…

Becky Gibbs | Aug. 23, 2024

Restricted Gifts: What To Do When Strings Are Attached

Brad, the development director of an international environmental charity, was thrilled to learn from a fundraising staffer that one of…

John Csargo | Aug. 19, 2024

Closing a Business Involves a Number of Tax Responsibilities

While many facets of the economy have improved this year, the rising cost of living and other economic factors have…

Ashley Sparks | Aug. 19, 2024

How to Choose the Best Inventory Accounting Method for Your Manufacturing Company

Your choice of accounting method for determining the value of your manufacturing company’s inventory can significantly impact your overall tax…

Jack McHatton | Aug. 14, 2024

Update On a Possible Universal Charitable Deduction

During the COVID-19 pandemic, Congress temporarily enabled individual charitable donors who didn’t itemize federal income tax deductions to deduct up…

Sam Johnson | Aug. 6, 2024

Understanding the Capital Gain Exclusion on Personal Residences

Homeownership is a primary goal for many Americans, which is why around two-thirds of homes in the US are owner-occupied.…

Kevin Berg | Jul. 30, 2024

The Death of the Chevron Doctrine

Ever since it was established in 1984 in the case Chevron v. Natural Resources Defense Council, the “Chevron Doctrine” has…

Brandon Dunigan | Jul. 29, 2024

New Beneficial Ownership Reporting Requirements Effective January 2024: What You Need to Know

Effective January 1, 2024, many companies in the United States must report information about their beneficial owners—the individuals who ultimately…

Greg Carlson | Jul. 22, 2024

The Danger of Using Company-Owned Life Insurance to Fund a Buy-Sell Agreement

The case of Connelly v. United States was decided by the Supreme Court on June 6, 2024.  The case concerned…

Amy Swenson | Jul. 16, 2024

Minnesota Retail Delivery Fee Effective July 1, 2024

The Minnesota Department of Revenue recently distributed information regarding the new Minnesota Retail Delivery Fee that was passed in the…

Boyum Barenscheer | Jul. 15, 2024

Important Update for Nonprofit Clients Regarding Charitable Registration

Recently, the Charities Division has made a significant change to the banking information requirements for registration and annual report forms.…

John Csargo | Jul. 11, 2024

Consider Borrowing From Your Corporation but Structure the Deal Carefully

If you own a closely held corporation, you can borrow funds from your business at rates that are lower than…