business tax

R&D Tax Credit for Manufacturing Companies

Reading Time: 3 minute In general, manufacturing companies are great candidates for the various tax credits the Internal Revenue Service (IRS) offers. One of the most popular is the Research and Development (R&D) Tax...
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2021 Tax Deadline Calendar

Reading Time: minute It is that time of year again for businesses to put together their tax filing and payment plans for 2021. While April 15th is the most recognizable tax due date, there are many other dates business...
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What are the Pros and Cons of Roth IRAs?

Reading Time: 3 minute Learn about the Pros and Cons of Roth IRAs Saving for retirement is important, and the sooner you start planning, the better. Even though Roth IRAs have been around for more than a decade, many...
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Year-end Financial Planning for Business Owners

Reading Time: 2 minute It is that time of the year again to start planning for the end of the year. As the person responsible for your company’s financial management, there are many year-end tasks that you need to oversee....
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IRS Formally Clarifies PPP Expense Position

Reading Time: 1 minute The IRS issued Revenue Ruling 2020-27 on November 18th, formally denying the ability to deduct expenses related to PPP forgiveness. In the ruling, the IRS clarified the deduction for PPP expenditures...
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Section 179: Minnesota Passes Conformity for 2020

Reading Time: 1 minute Minnesota passed a bipartisan tax and bonding bill recently that included full conformity for all Section 179 expensing for tax years beginning in 2020. Additionally, the bill included retroactive...
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Tax Planning: Tips from Tax Experts

Reading Time: minute The #1 Question We Get Asked About How do I save money on my tax bill? The answer: TAX PLANNING.
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Transportation Industry: Minnesota Conformity with Federal Tax Bills

Reading Time: 4 minute On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (TCJA), also known as tax reform. This legislation made some of the most significant changes to the federal tax code...
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IRS Resurrects Form 1099-NEC

Reading Time: 2 minute The filing of 2020 1099 forms will be a bit different compared to years prior. The 1099-MISC Form has historically been used to report payments, including nonemployee compensation, rents, and other...
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