The No Tax on Tips Act could potentially reduce the administrative burden on employers, particularly in the restaurant industry, by eliminating federal income taxes on tips. However, employers will still need to accurately track and report all tipped income for payroll and tax purposes.

In Minnesota, severance pay is not mandated by law but may be negotiated between employer and employee. It is taxable and should be reported as wages on an employee's income tax return. For more specifics, read below and/or consult our offices.

Did you receive a letter from the IRS? Learn what steps you should take and mistakes to avoid in responding to a notice.

The Social Security Administration introduces secure digital access to Social Security numbers, offering a modern, secure alternative to traditional physical SSN cards.

Secure your business EIN to prevent identity theft and fraud. Implement robust digital safeguards, monitor credit reports, limit access, and follow legal guidelines.

Today we highlight the value of accounting!

Are you a restaurateur or beverage business owner in Minnesota? Are you aware of the taxability of food and food ingredients? Get expert guidance on Minnesota's tax laws and improve your business's compliance today.

Accountants are vital for wind and solar businesses as they navigate complex tax credits and adapt to evolving tax laws, ensuring maximum benefits and compliance while supporting sustainable energy investment strategies.

New tariffs could significantly impact U.S. manufacturers, affecting cost structures and revenue streams. With FASB standards in mind, audit accountants can help navigate these financial uncertainties and regulatory complexities.

Economic upheaval doesn’t just bring challenges - it opens the door for businesses that are willing to adapt. Now is the time to rethink your operations and uncover new opportunities for growth.

Has your business outgrown basic bookkeeping? If you’re facing bigger decisions, more complexity, or uncertainty about your financial future, it may be time to consider whether you need more strategic financial support than a bookkeeper can provide.

National Small Business Week, the first week in May, celebrates the vital role of small businesses in driving economic growth, fostering innovation, and enhancing community engagement across America.

Most people spend time planning how to leave an inheritance—but far fewer consider when it might be smarter to decline one. In some cases, accepting assets can create unintended tax burdens or complicate long-term wealth planning. This article explores why, when, and how disclaiming an inheritance could be a strategic financial move.

Think your tax refund is just "extra money"? It might actually be a sign that your withholding is off, and that the IRS has been holding your money all year. This quick read breaks down how to fix that now, so you’re not stuck with a surprise bill (or a missed opportunity) next April.

Market swings can be unsettling, but they don’t have to weaken your retirement plan. Learn how a strategic blend of short-, mid-, and long-term investments, plus flexible withdrawal methods, can build financial resilience.