BMG Certified Public Accountants, LLP

The tax landscape for businesses may change significantly in the near future. That’s because provisions in the Tax Cuts and Jobs Act are scheduled to expire and the November elections will be decided. Here are some possible outcomes.

Learn more at: https://bmgcpas.com/tax-landscape-businesses-future/

Our office will be closed in observance of Labor Day on Monday, September 2nd. Have a happy and safe holiday!

Is your business looking to enhance its employee fringe benefits package? If so, an adoption assistance program may be a good addition. Details here.

Learn more at: https://bmgcpas.com/adoption-assistance-program-suit-company/

Disability income may or may not be taxable by the federal government. Here are the basic rules.

Learn more at: https://bmgcpas.com/tax-implications-disability-income-benefits/

When developing your business’s website, how do you handle the expenses for tax purposes? Here are the basic rules.

Learn more at: https://bmgcpas.com/business-website-expenses-theyre-handled-tax-purposes/

Business owners: If innovation isn’t part of your strategic planning, you could find yourself at a competitive disadvantage. Here are some ways to create an innovative company culture.

Learn more at: https://bmgcpas.com/strategic-planning-businesses-include-innovation/

Getting a divorce can be an agonizing process. You don’t want to make it worse by making decisions that will cost you more in taxes. Here are six issues to consider if you’re getting a divorce.

Learn more at: https://bmgcpas.com/tax-issues-youre-divorced/

Wishing Kylie Hehn a very Happy Birthday from everyone at BMG CPAs!

For most business co-owners, the value of their business shares comprises a big percentage of their estates. Having a buy-sell agreement protects co-owners and their heirs and helps avoid hassles with the IRS.

Learn more at: https://bmgcpas.com/business-co-owners-buy-sell-agreement/

Please come out and help us celebrate the 100th anniversary of our firm!

September 20, 2024
10 am - 2 pm

3533 S. 85th Street
Parking will be available in the church parking lot to the north of our building.

Congratulating Jody Decker on 5 years with BMG CPAs!

Business owners: If it seems to take forever for your sales to go through, you might want to start calculating and tracking sales velocity. Here’s a look at this widely used metric.

Learn more at: https://bmgcpas.com/vroom-vroom-businesses-sales-velocity/

If you own Series EE bonds, take a look at the issue dates to see if the bonds are no longer earning interest. Here’s how bond interest is taxed.

Learn more at: https://bmgcpas.com/?p=5945&preview=true

If your business is closing, taxes are probably not on your mind but there are a number of tax responsibilities that must be met. Here’s a rundown of the basic rules.

Learn more at: https://bmgcpas.com/closing-business-involves-number-tax-responsibilities/

Business owners: As you know, controlling costs is both fundamental and challenging. Here’s a look at three specific areas that are getting attention from many companies.

Learn more at: https://bmgcpas.com/3-areas-focus-companies-control-costs/

The federal estate tax exemption is currently $13.61 million, so you may want to think more about saving income taxes for your heirs (rather than worrying about estate taxes).

Learn more at: https://bmgcpas.com/planning-estate-dont-overlook-income-taxes/

What are the tax consequences of selling business assets? They can be complex.

Learn more at: https://bmgcpas.com/aware-tax-consequences-selling-business-property/

Business owners: If you’re ready to sponsor a qualified retirement plan, and your situation meets certain criteria, the little-known 412(e)(3) plan may be an option. Details here.

Learn more at: https://bmgcpas.com/412e3-retirement-plan-suit-business/

Congratulating Annie Hopping on 2 years with BMG CPAs!

Here’s a strategy for older taxpayers who are charitably minded and also must take required minimum distributions from their traditional IRAs.

Learn more at: https://bmgcpas.com/charitable-donations-avoid-taxable-ira-withdrawals/

Closely held corporation owners: If you need money for personal expenses like a new car or home improvements, consider borrowing from the business. But follow these tips to avoid adverse tax consequences.

Learn more at: https://bmgcpas.com/borrowing-corporation-structure-deal-carefully/

Family business owners: Setting compensation levels at your company is likely a challenge, but there are ways to address the distinctive needs of both family and nonfamily employees.

Learn more at: https://bmgcpas.com/family-businesses-solve-compensation-puzzle/

Congratulating Bret Schumacher on 13 years with BMG CPAs!

What’s on the tax horizon as many Tax Cuts and Jobs Act provisions get closer to their scheduled expiration date? Here are four possible scenarios.

Learn more at: https://bmgcpas.com/tax-provisions-scheduled-expire/

Business owners: The struggle for strong cash flow is real. Let’s talk about four ways you can win the battle.

Learn more at: https://bmgcpas.com/4-ways-businesses-control-cash-flow/

The Social Security tax paid by many individuals will continue to go up in future years. Here’s a look at how the tax affects employees, self-employed individuals and employers.

Learn more at: https://bmgcpas.com/social-security-tax-update-high-go/

Wishing Aaron Rogers a very Happy Birthday from everyone at BMG CPAs!

Summer is here and tax deadlines are probably the last thing on your mind. But there are some important third-quarter deadlines that businesses can’t afford to forget about.

Learn more at: https://bmgcpas.com/2024-q3-tax-calendar-key-deadlines-businesses-employers/

Business owners: As you and your leadership team work on strategic planning, it may be helpful to consider environmental, social and governance issues.

Learn more at: https://bmgcpas.com/businesses-integrate-esg-strategic-planning/

Investing in mutual funds is popular, but selling shares may result in complicated tax matters. Here are the rules.

Learn more at: https://bmgcpas.com/tax-consequences-selling-mutual-funds/