General Tax

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Holding companies offer benefits such as tax efficiency, liability protection, and privacy, but they also present challenges and complexity. This article provides an overview of what holding companies are, how they work, and their pros and cons.
PODCAST: From phone calls to phishing emails to fraudulent tax preparers – scams are only becoming more sophisticated every year. Check out this episode to ensure you never become a victim of one of these nefarious scams. 
If your small business would like to exchange goods and services without exchanging money, you may be able to barter. The internet makes it easier to engage with other businesses. But if you barter, be aware of the tax consequences.
The quest for skilled laborers in the manufacturing sector continues. Where can manufacturers turn to fill open positions? One option can also provide substantial tax savings: Hire workers that qualify for the Work Opportunity Tax Credit (WOTC).
The qualified business income, QBI deduction, is available to eligible businesses through 2025. After that, it’s scheduled to disappear unless Congress acts to extend it. So make the most of the tax break while it’s still on the books.
For manufacturers, as certain provisions of the Tax Cuts and Jobs Act (TCJA) begin to phase out, other tax laws, including the Inflation Reduction Act and the Creating Helpful Incentives to Produce Semiconductors Act, have begun to kick in.
What do you need to know about the new upcoming tax legislation in the Tax Relief for American Families and Workers Act of 2024 bill? This bill is currently with the Senate to approve and includes many significant changes that impact taxpayers.
VIDEO: Maximize your HSA (health savings account) benefits and avoid unnecessary taxes and penalties. Discover the eligibility criteria, benefits, and how to effectively manage your HSA.
A financial windfall presents both an opportunity and a challenge. While it’s a chance to boost your financial health, it also demands savvy strategic planning to minimize taxes and maximize returns. 
The U.S. DOL has issued new guidance on employee classification. This article provides an overview of the rule, its implications, and the steps employers must take to ensure their employee classifications are under the updated guidelines.
Businesses have two accounting methods to figure their taxable income: cash and accrual. Many businesses have a choice of which method to use for tax purposes.
Join us as we explore Trusts & Estates with our guest, attorney Zach Wiegand, at Gold Leaf Estate Planning and our own Trust & Estate expert, principal Adam Thielen. Together, we unravel the complexities of Gift & Estate Exclusion Rates and guide first-time estate executors through the process of working with your advisors.
The MN Department of Revenue has released information on changes for new and existing tax laws in 2024.
Considering selling your business? Check out the latest Q&A Over Coffee podcast episode I Want Out: Planning Your Exit with our guest Randy Krivo, Senior M&A Advisor at True North Mergers & Acquisitions to begin thinking about next steps when you determine it may be time to retire or sell
VIDEO: If you're a business owner who mistakenly claimed the Employee Retention Credit, find out how the new IRS Voluntary Disclosure Program can help you rectify the situation. Discover the eligibility criteria, benefits, and application process in our informative video.
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