Category: Business Tax

As I put together this document of the timeline, summaries and resources for you, I wanted to share what message I printed out and shared with my daughters as they start their first day at home of flex learning: Don’t Stress, Do Your Best, Forget the Rest...

Due to the COVID-19 pandemic and its affects on small businesses, the SBA now has two loans available to help your small business through these unusual and trying times.  Here is a quick summary on the Economic Injury Disaster Loan and the Paycheck Protection Loan....

Congress has just passed a new bill, called the CARES Act to provide stimulus and relief for the coronavirus situation.  There are many aspects of the bill ranging from loan forgiveness, unemployment insurance expansion, healthcare provisions, student loan provisions, SB...

Congress has just passed a new bill called the CARES Act to provide stimulus and relief for the coronavirus situation.  Chris Wittich, CPA and Partner with Boyum Barenscheer shares insight on the business tax provisions of the CARES Act....

On March 17th the IRS came out with guidance to assist taxpayers as the effects of coronavirus are felt across the country. Here is a summary of the actions that the IRS has taken:...

This blog post contains current status information on services provided by Boyum Barenscheer. Any updates to office closures or other situations impacting our services will be posted on this blog. We are committed to the health and safety of our employees and clients....

The 179D deduction has been gone since 2017 and the good news is that it is back.  The tax extenders bill passed in December 2019 with this popular Energy Efficient Commercial Buildings Deduction.  This had become a viable tax savings strategy again for many taxpayers. The...

We all know about April 15th, but there are a number of additional deadlines to remember.  Below are additional deadlines throughout the year that may impact you, depending on your accounting situation:...

The end of one year and the beginning of the next is a great opportunity for reflection and planning. You have 12 months to look back on and another 12 ahead to look forward to. Here are five ways to strengthen your business for the new year by doing a little of both:...

At many companies, a wide gap exists between the budgeting process and risk management. Failing to consider major threats could leave you vulnerable to high-impact hits to your budget if one or more of these dangers materialize. Here are some common types of risks to researc...

Extending credit to business customers can be an effective way to build goodwill and nurture long-term buyers. But if you extend customer credit, it also brings sizable financial risk to your business, as cash flow could grind to a halt if these customers don’t make their ...

The Minnesota Legislature recently passed a tax bill that conforms or partially conforms several Minnesota tax laws to changes made under prior Federal tax bills. Below is a link to a listing provided by the Minnesota Society of CPAs (MNCPA) of the items that now conform or...