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Minnesota Metro Sales Tax Increase

September 19, 2023

On October 1, 2023, a metro sales tax increase will affect seven metro counties in Minnesota. The counties of Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington will need to collect a new 1% local sales tax that will be used to fund transportation and housing projects.

Why the Cost of Customer Acquisition Is So Important

September 11, 2023

For any business, understanding and effectively managing the cost of customer acquisition is crucial for success. In this video, we'll explain what it is, how it's calculated, and how it affects a business's profitability, cash flow, and overall growth.

Determining Reasonable Compensation for S-Corp Owners

September 11, 2023

As an owner of an S-Corp, understanding the concept of reasonable compensation is crucial for tax planning and compliance. Learn about the IRS's reasonable compensation rules for determining how much should be taken in the form of wages versus pass-through income.

Reduce Volunteer Risk

August 28, 2023

Most not-for-profits regard their volunteers as invaluable assets and the organization needs to do all it can to reduce volunteer risk. After all, if it weren’t for your volunteers’ dedication and commitment, your organization might have stalled out a long time ago.

Tax Reporting for Special Events

August 25, 2023

For nonprofits, tax reporting for special events can be complicated. But careful tracking of revenues and expenses and retaining related documentation now will help facilitate the reporting process later.

Emergency Savings Accounts

August 24, 2023

In 2024, new provisions of the Secure Act 2.0 may allow businesses to help non-highly compensated employees in financial emergencies to take a withdrawal from their 401(k), 403(b) or 457(b) plan using emergency savings accounts that are linked to the plan.

Cryptocurrency Donations

August 23, 2023

Most nonprofits benefit when they accept donations from supporters in whatever form they want. So if you don’t yet accept cryptocurrency donations, here are some ideas on why you may want to start.

General Business Credit for Manufacturing

August 22, 2023

If your manufacturing company is looking to reduce its tax bill, it’s important to familiarize yourself with the General Business Credit (GBC) which is a collection of credits scattered throughout the tax code.

$10,000 in Cash?

August 22, 2023

If your business receives more than $10,000 in cash or cash equivalents in one transaction (or two or more related transactions), you’re generally required to report these large cash transactions to the IRS — and not just on your tax return.

Reshoring Production

August 22, 2023

Has your manufacturing company considered reshoring production to the United States? There are plusses and minuses to weigh before making a final decision.

New Ideas for Nonprofits

August 21, 2023

Change is good for all organizations and new ideas for nonprofits bring innovation that makes it easier to achieve, and even expand, the nonprofit's mission.

LLC Advantages

August 21, 2023

You can operate your small business in several ways. For example, your entity can be a sole proprietorship, an S corporation or a partnership. There are some LLC advantages you should be aware of.

How Top CEOs Found Success Through Immersion

August 17, 2023

VIDEO: Discover how CEOs of Airbnb, Starbucks, and Uber immersed themselves in their own businesses as customers and frontline employees, gaining valuable insights that transformed their companies. Learn how their firsthand experiences led to innovative improvements and a better understanding of their customers' needs.

High Net Worth Donors

August 16, 2023

If your nonprofit hopes to land a large gift, it needs to go to the source: high net worth donors. Learn more about wealthy philanthropists and how to get their attention.

Nonprofit Public Relations

August 15, 2023

Good public relations can mean many things. But for a public charity, it means frequently, rather than occasionally, using the media to communicate with prospective supporters about successes, challenges and opportunities.