Blog

Chris Wittich | Nov. 1, 2024
Qualified Charitable Distribution (QCDs): An Overview
A qualified charitable distribution is a transfer of funds from an IRA directly to a charitable organization. QCD’s give taxpayers…
Amy Swenson | Oct. 28, 2024
Ease your January 2025 Form 1099 Reporting by Reviewing Your W-9s on File Now
Forms 1099-NEC and 1099-MISC for payments made in the course of a trade or business to independent contractors during calendar…
Ali Hansen | Oct. 23, 2024
How Do External Auditors Evaluate Audit Risks?
As calendar-year entities wrap up financial reporting for the year, their external auditors work behind the scenes to prepare for…
Ellen Alphonso | Oct. 22, 2024
Key Considerations for Plan Sponsors When Changing Payroll Systems
Maybe you’ve determined that the client service does not meet your business needs, or you’ve noticed errors in your payroll…
Chris Wittich | Oct. 22, 2024
Understanding BOI Reporting Process
Chris Wittich, Tax Partner at Boyum Barenscheer, provides an overview of the Beneficial Ownership Information (BOI) reporting process, including key…
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…
Ashley Klemann | Oct. 7, 2024
Charitable Giving: Stock Donations, Donor Advised Funds and Qualified Charitable Distributions
As the end of the year approaches, many people decide to make donations to local charities. If this is something…
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…
Sam Johnson | Sep. 23, 2024
Inheriting an IRA Account
Inheriting assets can evoke a range of emotions; from the sorrow of losing a loved one to the joy of…
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…

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