Blog

Amy Swenson | Oct. 21, 2024

Support and Guidance for Clients Affected by Recent Natural Disasters

At Boyum Barenscheer, we want to extend our deepest empathy to you during this challenging time. Whether you’ve been affected…

Anna Lovegren | Oct. 10, 2024

Board Independence is About More Than Avoiding Conflicts of Interest

Are your not-for-profit’s board members independent? Your immediate response is probably, “of course!” But contrary to what many nonprofit leaders…

Randy Feld | Oct. 3, 2024

Alternate Construction Delivery Methods: CMc in the Spotlight

Like many construction businesses, yours may have operated for years following the traditional design-bid-build delivery method. An architect designs a…

Randy Feld | Sep. 30, 2024

Reminder: Profits and Cash Flow Aren’t the Same

Profitable businesses often experience cash flow shortages, particularly if they’re experiencing rapid growth. Business owners may wonder why they owe…

Jack McHatton | Sep. 16, 2024

When Your Nonprofit’s Debt-Financed Income is Subject to Tax

If your nonprofit has investment income, dividends, interest, rents and annuities, they’re generally excluded when calculating unrelated business income tax…

Chris Wittich | Sep. 12, 2024

New Requirement to Electronically Create and File Minnesota CRP Forms

Landlords and property managers of residential rental real estate in Minnesota are subject to a new Minnesota Department of Revenue…

Chris Wittich | Sep. 11, 2024

IRS Claims Processing Update

John Csargo | Sep. 9, 2024

It’s Time for Your Small Business to Think About Year-End Tax Planning

With Labor Day in the rearview mirror, it’s time to take proactive steps that may help lower your small business’s…

Jasmin McKenzie | Sep. 4, 2024

Welcome Charitable Pledges — and Account for Them Properly

The difference between financial pledges and donations is relatively simple: Pledges are promises to donate sometime in the future, and…

Matthew Koch | Aug. 29, 2024

Evaluating Your Manufacturing Company’s Multistate Tax Liability

When operating across state lines, it’s critical for manufacturers to understand their multistate tax liability. To determine state tax liability,…

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…

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…