If you own more than one corporation, it’s easy to assume you’ve maximized your tax advantages: Two corporations? Two Section 179 limits. Three corporations? Three buckets of credits. Not so fast! On paper, you may have multiple entities. For tax and other compliance purposes, you may only
Q3 Review: Plan Smart, Finish Strong
Fall is here, and it’s a great time for small business owners to pause and plan for a strong finish to the year. Before jumping into the fourth quarter (Q4), don’t overlook one of the most important checkpoints of the year: the end of the third quarter (Q3). Now is the perfect chance to review your
The One Big Beautiful Bill Act (OBBB): Employer Guide
By now, you’ve probably heard of the One Big Beautiful Bill Act (OBBB), President Trump’s sweeping legislative initiative, which was narrowly passed by the House and Senate and signed into law on July 4, 2025. The final bill runs 331 pages, covering nearly every area of government: agriculture,
5 Tax-Time Trouble Spots: Common Issues and Missed Deductions
We recently lifted our heads above the water after swimming through a sea of client files, getting everything ready to send off to their CPAs for tax filing. All year long, but especially in the thick of tax season, we're submerged in numbers, receipts, and reconciliations - and we start to spot
Filling Out the W-9: A Painless Guide to Getting Paid (and Keeping the IRS Happy)
We recently wrapped up the yearly task of filing hundreds of 1099s on behalf of our clients. We determined which of our clients' vendors received a 1099 based on the Form W-9 we requested from them. (Check out our separate blog post covering 1099s - who needs them, what they're for, when they're
Decoding the Financial Dream Team: Understanding the Roles of Bookkeeper, Accountant, CFO, CPA, and Tax Attorney
In the world of finance and business, the terms bookkeeper, accountant, CPA, CFO, and tax attorney are sometimes used interchangeably—but each actually plays a distinct role. From keeping track of daily transactions to providing legal advice in tax disputes, these roles are essential to a business's
New Year, New Laws
As we kick off the new year, we want to inform you about the latest updates in federal and state (Minnesota) laws that may affect your business. January is also a good time to draw your attention to a couple of other matters - specifically, checking your 1099s and ensuring that everything is
Cracking the Code of Estimated Tax Payments
June 15th is right around the corner! Do you know the significance of that date? Well, it's the date in 1846 when the US and Britain signed the Oregon Treaty to establish the border between Canada and the US at 49th parallel. And it's also Courtney Cox's birthday! (We have a few Friends fans in