Potential Changes to your Minnesota Tax Returns Due to Retroactive Tax Law Changes

Minnesota recently passed a tax bill that retroactively brings some of Minnesota’s income tax provisions into conformity with federal income tax provisions that were passed in December 2017, as part of the federal Tax Cuts

Properly Classifying Workers: Employee vs. Independent Contractor

To save money, your business may treat workers as independent contractors, rather than employees. Be aware that the IRS looks for businesses that improperly classify workers. It’s best to handle independent contractors so the relationships

What Entrepreneurs Need to Know About Tax Returns

Starting a new business can be a hectic, exciting and expensive time. Entrepreneurs are often unaware that many expenses incurred by start-ups can’t be deducted right away. Some may have to be amortized over time

What Type of Expenses Can’t Be Written Off by your Business?

If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. It doesn’t explicitly state that you can deduct office

What is the R&D Tax Credit?

Why include your CPA when creating a new product? While they may be easy to overlook, their presence throughout your process could save you big come tax time. We detail how an R&D tax credit

What You Need to Know About Merger and Acquisition Transactions

Buying or selling a business may be the most important transaction you ever make. So it’s important to seek professional tax advice as you negotiate. After a deal is done, it may be too late

Key Deadlines for 2019 Quarter 2 Tax Calendar

Does the April 15 filing deadline apply to your company? What additional tax deadlines are there for businesses and employers during the second quarter of 2019? Here are some of the key tax-related deadlines that

Leasing Equipment vs. Buying Equipment for your Business

When deciding whether to lease or buy equipment or other fixed assets, there are a multitude of factors to consider, including tax implications. Pros and Cons of Leasing From a cash flow perspective, leasing can

What LLC Members Need to Know About Self-employment Tax

Limited liability company (LLC) members may be subject to back taxes and penalties if they underpay self-employment tax. Find out if your business could be at risk. SE Tax Background Self-employment income is subject to

C Corporation Tax Truths

Most C corporations are seeing a significant tax cut under the Tax Cuts and Jobs Act (TCJA). But there are still certain tax vulnerabilities for these entities that haven’t changed much. Check out some of

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