Tax and Accounting Blogs

Why Your Business Needs Strategic Forecasting As we approach the end of the year, it’s the perfect time to reflect on your business’s performance and prepare for what lies ahead. In the unpredictable world of business, the ability to foresee potential challenges and opportunities is invaluable. Strategic forecasting equips you with the insights needed to […]

Tax Deductions for Small Business Owners and Retirement There are several strategies you can implement before December 31 to help fund the retirement you envision and reduce your current tax liability. Five essential strategies for deductions for self-employed business owners and entrepreneurs seeking to increase their retirement savings:   Establish a Retirement Plan for 2024 […]

2024 How a New Vehicle Could Maximize Tax Deductions for Small Business Owners As a small business owner, one of the most effective ways to reduce your tax liability is by taking advantage of tax deductions. If you require a new business vehicle, 2024 could be an excellent opportunity to get the vehicle you need […]

Submitting Personal Tax Information & Documents Our firm has extensive quality control and security processes in place to ensure the safe and efficient handling of your tax information. Please support these processes by following our firm’s best practices for submitting your tax documents. Send personal documentation (W2, 1099, etc.) at one time through the online […]

Filing Requirements for Business Owners We have important news to share regarding a new filing requirement that will impact the vast majority of small businesses in the United States starting in January of 2024. In 2021, Congress, with bipartisan support, enacted the Corporate Transparency Act to address the problem of corruption, money laundering, and other […]

In 2024, the IRS has made important adjustments to the standard mileage rates, affecting various aspects of business, medical, moving, and charitable activities involving the use of vehicles. Here’s a closer look at some key details and implications of these rate changes: Business Standard Mileage Rate Increase: The most significant change is the increase in […]

Big news in the world of employment law in Minnesota that you should be aware of: the Earned Sick and Safe Time (ESST) law kicks off on January 1, 2024. This new regulation is designed to benefit employees across the state, ensuring they have access to paid sick and safe time. Let’s break it down […]

Let’s discuss steps that can be taken to reduce taxes and help you save for your future. Though there has been a lot of political attention to tax law changes, inflation, and environmental sustainability, political compromise has led to smaller impacts on taxes this year. However, with the passage of the Inflation Reduction Act and […]

As we wrap up 2022, it’s important to take a closer look at your personal taxes Let’s discuss steps that can be taken to reduce taxes and help you save for your future. Though there has been a lot of political attention to tax law changes, inflation, and environmental sustainability, political compromise has led to […]

Now is the time to get the books updated, see where you stand, and schedule your year-end planning with us. Buy I Bonds Now to Earn Huge Interest! Inflation is high, but there is one good thing that can come from it. The U.S. Treasury Department is offering Series I bonds that pay a guaranteed […]