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In financial planning, forecasts and projections aren’t the same

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No business owner has a fully functional crystal ball. But a carefully created forecast or projection can help you better prepare for the future.

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Minnesota state capitol building

Employers Need to Reevaluate Drug Testing Policies in Light of Minnesota Marijuana Legalization

The legalization of marijuana in Minnesota has created new challenges for employers, who must now grapple with how to enforce drug-free workplace policies in a state where marijuana is legal of August 1, 2023

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Turning receivables into cash

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Collecting payment from customers takes time and patience. To bridge the cash gap, consider some creative strategies to monetize outstanding receivables.

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Hiring family members can offer tax advantages (but be careful)

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Business owners: If you’re thinking about hiring your child or spouse this summer (or already have), you could be in line for some tax savings. But you’ll need to be aware of the IRS rules and follow them carefully – we can help.

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Are you married and not earning compensation? You may be able to put money in an IRA

If you’re married and don’t earn compensation, you may think you can’t contribute to a retirement plan. But you may be eligible for a spousal IRA. Here are the rules for 2023.

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FASB votes to exempt private companies from disaggregation of income statement project

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Private companies will be exempt from a coming FASB proposal on disaggregating income statement expenses, but including comprehensive expense disclosures may be a good idea regardless of whether your business is private or public.

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strategic tax planning

Strategic tax planning Q&As for construction businesses

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Maximize your tax savings by engaging in year-round strategic tax planning for your construction business. Here are six important questions to consider.

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pay equity

Addressing pay equity at your business

Businesses today are under increased pressure to address pay equity to ensure compensation is determined free of unjust biases. Fortunately, there are real, actionable ways you can address it at your company.

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Avoid succession obstacles with a buy-sell agreement

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If your business has multiple owners, we strongly advise building a buy-sell agreement into your succession plan. Learn more about how these agreements work and why they’re important.

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New disclosure requirements? Shedding light on a little-known law

Most business owners are unaware that they are now required to report their beneficial ownership under the Corporate Transparency Act (CTA). It’s important to know in advance what is required to avoid late filing penalties.

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