The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These amounts are adjusted each year, based … [Read more...]
Tax breaks for caring for an elderly relative
June 6, 2024 by Thomas Stoeckman
There are many rewards for taking care of an elderly relative. They may include feeling needed, making a difference in the person’s life and allowing the person … [Read more...]
Income and Deductions Strategies for Businesses
June 6, 2024 by Mitchell Erickson
Businesses usually want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it wise to do the … [Read more...]
Tax Planning – When you need it and how to start
June 6, 2024 by Tonya Raths
Tax planning considers multiple factors, not only continually planning and paying attention to your financial situation throughout each year to help keep taxes … [Read more...]
IRS extends relief for inherited IRAs
April 25, 2024
For the third consecutive year, the IRS has published guidance that offers some relief to taxpayers covered by the “10-year rule” for required minimum … [Read more...]
Retail Delivery Fee
April 25, 2024
Starting July 1, 2024, there will be a Retail Delivery Fee of $0.50 that applies to certain transactions involving retail delivery in Minnesota. The fee … [Read more...]
Gov. Walz Urges Small Businesses to Apply for Assistance
March 25, 2024
As Minnesota continues to face record-high winter temperatures, Governor Tim Walz recently announced that Minnesota has unlocked federal funding for small … [Read more...]
Charity scams: A small business perspective
March 25, 2024
Many businesses support their communities by donating to local charities. Although there are plenty of nonprofits that deserve your support, some exist solely … [Read more...]
What are your options to fund long-term care expenses?
March 25, 2024
Few things can derail your estate plan as quickly as unanticipated long-term care (LTC) expenses. Most people will need some form of LTC — such as a nursing … [Read more...]
Coordinating Sec. 179 tax deductions with bonus depreciation
March 25, 2024
Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in achieving … [Read more...]
