Blog

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…

Sam Johnson | Aug. 6, 2024

Understanding the Capital Gain Exclusion on Personal Residences

Homeownership is a primary goal for many Americans, which is why around two-thirds of homes in the US are owner-occupied.…

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…

Brandon Dunigan | Jul. 29, 2024

New Beneficial Ownership Reporting Requirements Effective January 2024: What You Need to Know

Effective January 1, 2024, many companies in the United States must report information about their beneficial owners—the individuals who ultimately…

Greg Carlson | Jul. 22, 2024

The Danger of Using Company-Owned Life Insurance to Fund a Buy-Sell Agreement

The case of Connelly v. United States was decided by the Supreme Court on June 6, 2024.  The case concerned…

Amy Swenson | Jul. 16, 2024

Minnesota Retail Delivery Fee Effective July 1, 2024

The Minnesota Department of Revenue recently distributed information regarding the new Minnesota Retail Delivery Fee that was passed in the…

Boyum Barenscheer | Jul. 15, 2024

Important Update for Nonprofit Clients Regarding Charitable Registration

Recently, the Charities Division has made a significant change to the banking information requirements for registration and annual report forms.…

John Csargo | Jul. 11, 2024

Consider Borrowing From Your Corporation but Structure the Deal Carefully

If you own a closely held corporation, you can borrow funds from your business at rates that are lower than…

Anna Lovegren | Jul. 10, 2024

How Your Board Should Evolve Over Your Nonprofit’s Life

One thing every new not-for-profit organization can count on is change. Ideally, the changes you experience will be for the…

Boyum Barenscheer | Jul. 10, 2024

Maximizing Impact with In-Kind Services: A Guide for Nonprofits

As a nonprofit organization in Minnesota, leveraging in-kind services can be a game-changer for your operations. These contributions, which come…

Barb Sawdy | Jul. 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…