Starting from October 1, 2023, there will be some changes to sales tax regulations in Minnesota. The Minnesota State Legislators recently passed a law that increases the local sales and use tax rates for seven key metro counties....

The IRS granted an administrative transition period via Notice 2023-62 that extends until 2026 the new requirement per the SECURE Act 2.0 that any catch-up contributions made by higher income participants in 401(k) and similar retirement plans must be designated as after-ta...

Roth Conversions attract a lot of conversation in the personal tax and wealth management realm.  Here are some common overall goals of a Roth Conversion and some general scenarios where the strategy may be particularly appropriate.  ...

Minnesota has introduced a one-time tax rebate payment, ranging up to $1,300. These payments are set to be disbursed from this week through September, and we are here to provide you with a concise overview of the eligibility criteria and distribution details....

The Minnesota legislature retroactively passed legislation that provides a refund if your property taxes increased by 6%. This provision has historically been in place at a 12% level. This is a one-time deal – only for property taxes payable in 2023 (which is reported on...

By scheduling annual financial statement audits, you can demonstrate your organization’s financial fitness to donors and other stakeholders. Plus, state governments and other grant makers may mandate them. But don’t assume that auditors will simply swoop in and take care...

We wanted to take a moment to share some exciting news regarding our company's growth and strategic initiatives. In our ongoing efforts to enhance operational efficiency and provide you with even better service, we will be consolidating our offices. As a result, we will be c...

Although conflict-of-interest policies are essential for all not-for-profits, private foundations must be particularly careful about adhering to them. In general, stricter rules apply to foundations. For example, you might assume that transactions with insiders are acceptabl...

When you go to the doctor, the first thing the medical staff likely does is check vital signs such as your temperature and blood pressure. They do so because, if any of these measurements are outside the norms, the doctor may need to elevate your level of care....

For decades, products that were made in America were synonymous with high quality and were manufactured in great abundance. Comparable products from other countries were often viewed as cheaper knockoffs....

Construction businesses can save time and avoid hassle by maintaining an inventory of critical materials and supplies. But managing that inventory for tax purposes can be challenging....

The Minnesota Department of Revenue has launched an online portal for taxpayers who need to update their address or bank information in order to receive a rebate check this fall....