blog
July 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 2024, support for all versions of QuickBooks Desktop will cease, pushing users to transition to QuickBooks Online. This change aims to provide users w...

July 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 efficiency. Our comprehensive suite of services is designed to meet your specific needs, whether you require regular financia...

July 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 well as multiple changes to employment law that employers should be aware of. The following summarizes the major changes to be aware of. ...

July 1, 2024
Business Owners That Accepted VISA and Mastercard Payments Could Qualify for Class Action Settlement Payment
July 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 of claims are deemed high risk and likely fraudulent. The IRS emphasizes that even legitimate claims will face significant delays in processing, ...

June 26, 2024
Boyum Barenscheer Named a 2024 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 33-year-old Star Tribune 100 report of the best-performing public companies in Minnesota, Top Workplaces recognizes the most progressive c...

June 20, 2024
Cross-Training Initiatives Can Get Your Whole Organization in Shape

Cross-training staffers to do one another’s jobs isn’t a new idea. But it can be a simple and effective way to boost your nonprofit’s resilience to unplanned and potentially harmful events....

June 12, 2024
Why Private Foundations Need to Avoid Self-Dealing

The IRS strictly prohibits self-dealing between private foundations and “disqualified persons.” But how are these terms defined? Among people who are considered disqualified are large donors, foundation managers or owners, substantial owners of major donor corporations, ...

June 9, 2024
Thinking Ahead to Your Next Form 990

The deadline for calendar-year not-for-profits to file Form 990 with the IRS has come and gone. But it’s never too early to think about reporting responsibilities for the next deadline. Be careful to keep records of fundraising expenses, which you must report on Schedule G...

June 6, 2024
Poised for Exit Podcast

Boyum Barenscheer’s Gregory Carlson CFP, MBT, CDFA, RICP, CMAA, PFS, CPA joined Julie Keyes in the latest episode of the Poised for Exit podcast. In the discussion, Greg explained the pros and cons of Stock vs. Asset Sales and the impact of Capital Gains liability on both ...

June 4, 2024
Optional SECURE 2.0 Provisions for Manufacturing Plan Sponsors

SECURE 2.0 introduced over 90 provisions to modernize retirement plans and many of the optional provisions can be utilized to support the unique needs of a manufacturing and distribution workforce. We’ll review a few of these provisions and include considerations for your ...

June 4, 2024
8 Strategies for Boosting Your Manufacturing Production Capacity

Are your manufacturing company’s sales up over recent years, causing you to reach maximum capacity? One solution is to expand your operational footprint. But doing so requires large cash outlays, and you may feel some uncertainty about the economy and be hesitant to make s...