My favorite IRS program - the Streamlined Disclosure Program - is going away September 28th so I had to write about it one more time. The past 10 years have seen a dramatic increase in the awareness and enforcement for the rules relating to foreign bank accounts. US citizens...

The Supreme Court ruled June 21, 2018 on a sales tax case that removed the physical presence standard that has long been the standard for sales tax....

Funny thing about customers: They can keep you in business — but they can also put you out of it. The latter circumstance often arises when a company overly relies on a few customers that abuse their credit to the point where the company’s cash flow...

Every year is a journey for a business. You begin with a set of objectives for the months ahead, probably encounter a few bumps along the way and, hopefully, reach your destination with some success and a few lessons learned. The middle of the year is the perfect time to st...

Some business owners — particularly those who founded their companies — may find it hard to give up control to a successor. Maybe you just can’t identify the right person internally to fill your shoes. While retirement isn’t in your immediate future, you know you mus...

The federal tax reform highlights affecting businesses include a flat rate for c corporations, new limits in business loss deductions, section 179 expensing changes, luxury auto depreciation annual limit increases and other provisions included in this blog....

Highlights of the federal tax reform affecting individuals includes lower individual rates, and changes to the standard deduction, exemptions, medical expenses, charitable contributions, child tax credits, home mortgage interest and other items, described in this blog post....

ST. PAUL, Minn. (WCCO) — One of the biggest items facing a veto in the Minnesota Legislature is the state tax bill.The bill lines up our taxes with the new Federal law so that at least 800,000 Minnesotans don’t end up paying more. WCCO asked CPA Chris Wittich to give us ...

Cost control is a formal management technique through which you evaluate your company’s operations and isolate activities costing you too much money. This isn’t something you can do on your own — you’ll need a total team effort from your managers and advisors. Done p...

When business people speak of innovation, the focus is usually on a pioneering product or state-of-the-art service that will “revolutionize the industry.” But innovation can apply to any aspect of your company — including customer service....

Please join us on May 30th for "Plan Today - Exit Tomorrow". This event at the Metropolitan Ballroom & Clubroom will focus on key strategies for a smooth transition. Complimentary registration is available for business owners and executives who are considering pursuing an ...