A power of attorney is a critical component of an effective estate plan

While much of your estate plan focuses on actions that take place after death, it’s equally important to have a plan for making critical financial or medical … [Read more...]

Update on IRS efforts to combat questionable Employee Retention Tax Credit claims

The Employee Retention Tax Credit (ERTC) was introduced back when COVID-19 temporarily closed many businesses. The credit provided cash that helped enable … [Read more...]

If you gave to charity in 2023, check to see that you have substantiation

Did you donate to charity last year? Acknowledgment letters from the charities you gave to may have already shown up in your mailbox. But if you don’t receive … [Read more...]

Hannah Tiernan joins CDS

Hannah Tiernan recently joined CDS as an Audit Coordinator in our Litchfield office. Prior to CDS, Hannah worked in project management for four years and in … [Read more...]

Minnesota Employment Law Updates for January 1

Minnesota’s legislature had a busy year, with special attention paid to the state’s employment laws. All of the new laws below took effect on January 1, 2024, … [Read more...]

Businesses: Do you have to comply with the new corporate transparency reporting rules?

Beginning on January 1, 2024, under the Corporate Transparency Act (CTA), enacted in 2021, certain companies will be required to provide information related to … [Read more...]

Where should you keep your estate planning documents?

You’ve likely put a great deal of time, effort and expense into implementing an estate plan that meets your goals. But unless your loved ones know that these … [Read more...]

The standard business mileage rate will be going up slightly in 2024

The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents per mile in 2024. … [Read more...]

Tips for a Smooth Tax Season

With tax season officially underway, here are tips to make filing your return as stress-free as possible: Gather your tax information for filing Items you'll … [Read more...]

Fraud prevention strategies for entrepreneurs and small businesses

Fraud occurs in companies of every size. But small businesses, especially new ones, have special risks because they generally can’t invest in expensive … [Read more...]