Blog

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…

Anna Lovegren | Jul. 10, 2024

How Your Board Should Evolve Over Your Nonprofit’s Life

One thing every new not-for-profit organization can count on is change. Ideally, the changes you experience will be for the…

Boyum Barenscheer | Jul. 10, 2024

Maximizing Impact with In-Kind Services: A Guide for Nonprofits

As a nonprofit organization in Minnesota, leveraging in-kind services can be a game-changer for your operations. These contributions, which come…

Barb Sawdy | Jul. 2, 2024

QuickBooks Desktop Discontinuation: What You Need to Know

QuickBooks Desktop, a cornerstone of small business accounting software for years, is being phased out by Intuit. As of June…

Emiley Sandvik | Jul. 2, 2024

Comprehensive Financial Support and Outsourced Accounting Services for Your Business

At Boyum Barenscheer, our Client Accounting Services (CAS) department is dedicated to helping your business achieve financial clarity and operational…

Kevin Berg | Jul. 1, 2024

Minnesota 2024 Legislative Session: Tax and Employment Law Changes Highlights

The 2024 legislative session in Minnesota ended on May 19, 2024 and brought some changes to the tax law as…

Melissa King | Jul. 1, 2024

Business Owners That Accepted VISA and Mastercard Payments Could Qualify for Class Action Settlement Payment

Over the years, business owners have been paying significant fees to process VISA and Mastercard credit card payments. As a…

Chris Wittich | Jul. 1, 2024

Understanding the IRS Announcement on ERC Claims

In the video, Chris Wittich discuss the recent IRS announcement regarding ERC claims, highlighting that between 10 and 20 percent…