blog
September 27, 2022
Inflation Reduction Act’s Impact on Your Taxes

The Inflation Reduction Act (IRA) was signed into law on August 16, 2022.  Here are the significant provisions:...

September 27, 2022
Student Loan Forgiveness

President Joe Biden announced on Aug. 24 that most federal student loan borrowers will be eligible for some forgiveness.  The forgiveness would be up to $10,000 if you didn’t receive a Pell Grant, and up to $20,000 if you did. The Whitehouse fact sheet states if all el...

September 21, 2022
Boyum Barenscheer Named a 2022 Top Workplace

Boyum Barenscheer has been named one of the Top Workplaces in Minnesota by the Star Tribune. Produced by the same team that compiles the 31-year-old Star Tribune 100 report of the best-performing public companies in Minnesota, Top Workplaces recognizes the most progressive c...

September 19, 2022
Grow Your Business with Employee Retention Credit

The Employee Retention Credit is a once in a lifetime opportunity for salons that have employees and we have the perfect chance for you to find out how it works. This program is often misunderstood and you don't want to miss out....

September 19, 2022
2022 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all app...

September 16, 2022
Tax Cut & Jobs Act Impact on ’22 Research Expense

The Tax Cuts and Jobs Act was passed in December 2017.  While most of the tax provisions in this legislation are already effective, some provisions are just now taking effect.  One of these provisions will significantly impact certain businesses starting in 2022....

September 14, 2022
Don’t Let Fraud Break the Bonds of Your Family Business

According to Family Enterprise USA, 87% of U.S. companies are family businesses, which are responsible for 54% of gross domestic product or $7.7 trillion. Although family businesses are an economic pillar of strength, several studies have found that they’re more vulnerable...

September 12, 2022
Separating Your Business From Its Real Estate

Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in the name of the business? You may want to rethink this approach. Any short-term benefits may be outweighed by the tax, liability and estate planning advantages ...

August 25, 2022
For a Stronger Nonprofit, Increase the Number of Income Streams

Not-for-profits that rely on a single income source, or only a few, are vulnerable to economic shocks. The COVID-19 pandemic has made this particularly clear. Most organizations have had to scramble to make up for lost revenue when at least some of their usual support dried ...

August 3, 2022
What Revenue Numbers Can Reveal About Your Nonprofit’s Financial Health

When professional auditors review a not-for-profit’s books, they usually spend significant time on revenue. Inadequate revenue — or revenue trending in the wrong direction — can provide an early warning of future trouble. But you don’t have to wait for your next audi...

July 26, 2022
Mythbust and Maximize the Employee Retention Credit

The employee retention credit (ERC), the refundable tax credit designed to reward business owners for retaining employees throughout the COVID-19 pandemic was signed into law on March 27, 2020, as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and fur...

July 18, 2022
Important Considerations When Engaging in a Like-Kind Exchange

A business or individual might be able to dispose of appreciated real property without being taxed on the gain by exchanging it rather than selling it. You can defer tax on your gain through a “like-kind” or Section 1031 exchange. A like-kind exchange is a swap of real p...