Blog

Category: Business Management

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November 9, 2023
Navigating Minnesota’s Employment Law Changes

In this webinar we provide insight into recent changes in Minnesota's employment laws and how to effectively navigate them. This is an hour long webinar with some Q&A.  ...

October 25, 2023
The Social Security Wage Base for Employees and Self-Employed People is Increasing in 2024

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $168,600 for 2024 (up from $160,200 for 2023). Wages and self-employment income above this threshold aren’t subject to Social Security tax....

September 28, 2023
Employee Retention Credit Update | September 2023

The very first time the IRS started warning people about ERC compliance and the scams and schemes going on was in the fall of 2022 after a big push from the AICPA. Lets take a look at how this has been going in just the past 12 months and see how it’s escalated dramatical...

September 6, 2023
Guaranteeing a Loan to your Corporation? There May be Tax Implications

Let’s say you decide to, or are asked to, guarantee a loan to your corporation. Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation of your closely held corporation, be aware of the possible tax implications. If your corporation defaults on t...

August 29, 2023
Minnesota Sales Tax Update

Starting from October 1, 2023, there will be some changes to sales tax regulations in Minnesota. The Minnesota State Legislators recently passed a law that increases the local sales and use tax rates for seven key metro counties....

February 1, 2023
Many Tax Limits Affecting Businesses Have Increased for 2023

An array of tax-related limits that affect businesses are indexed annually, and due to high inflation, many have increased more than usual for 2023. Here are some that may be important to you and your business....

January 19, 2023
January 18, 2023: The Staffing Challenges Webinar Recording

Many of our clients have been impacted by the labor shortage and may be searching for advice on how to navigate the challenging landscape. Boyum Barenscheer and Employer Solutions Staffing Group put on a webinar that covers topics including remote work policies, employee eng...

January 18, 2023
How the New SECURE 2.0 Law May Affect Your Business

If your small business has a retirement plan, and even if it doesn’t, you may see changes and benefits from a new law. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was recently signed into law. Provisions in the law will kick in over sever...

December 27, 2022
Game On! Just Make Sure Your Nonprofit Follows Tax Rules

If you’re starting to plan activities for a 2023 fundraiser, consider gaming — for example, bingo, poker, raffles and even casino-type games. Such games can be a great way to engage supporters and raise more revenue than your not-for-profit might otherwise. However, gami...

December 19, 2022
2023 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. If you have questions about filing requirement...

December 14, 2022
Do You Qualify for the QBI Deduction? And Can You Do Anything by Year-End to Help Qualify?

If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the Section 199A deduction. The QBI deduction is: ...

November 15, 2022
November 21, 2022: Section 174 R&D Costs Update Webinar Recording

The Tax Cuts & Jobs Act made significant changes to the tax treatment of R&D costs that will affect almost every company in 2022. Boyum Barenscheer's Greg Carlson and Aprio's Dave Hanson hold a webinar that covers the changes, impact on businesses and steps needed to incorpo...