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Financial Red Flags: A guide for nonprofit board members and directors
Protect your nonprofit organization from financial crises with these expert tips for board members and directors. Discover the warning signs of financial mismanagement and how to prevent them.
The Power of AI: Boosting Worker Productivity
Learn how Artificial Intelligence is transforming worker productivity and its impact on businesses and the labor market.
Hiring Your Child Can Help You Save Big in Taxes
Hiring your child for your business can lead to significant tax savings by shifting income, reducing taxes, and reducing FICA and FUTA obligations. However, it's crucial to follow employment laws and withhold appropriate taxes. Learn more about the benefits and rules for hiring your child.
Family and Medical Leave program legislation signed
Minnesota Governor Tim Walz has signed legislation for a paid family and medical leave program, providing financial security for families during major life events.
Minnesota seeks new revenue with comprehensive tax bill
Omnibus taxpayer includes revenue raisers on multinational businesses and high-income earners, as well as tax breaks for many other Minnesotians.
Minnesota passes groundbreaking paid Family Medical Leave bill – Here’s what you need to know!
The Minnesota House of Representatives has passed the paid Family and Medical Leave bill, HF2, which aims to create a state-run insurance program offering up to 18 weeks of paid leave for workers each year. The program, which is set to start on July 1, 2025, is designed to help self-employed or gig workers who could opt into the program.
Nonprofits may benefit from proposed legislation
The Nonprofit SEAT Act would strengthen the relationship between the nonprofit sector and the federal government, providing nonprofits a seat at the table of federal policymaking.
The shift toward managed security services in the middle market
With the business world becoming more digital, managed security services are helping companies address cybersecurity gaps and labor challenges.
IRS issues guidelines regarding substantiation of expenses for cafeteria plans
The IRS is cautioning cafeteria plan sponsors from using any shortcuts in complying with the expense substantiation requirements under section 125.
Consumer sentiment drops as inflation expectations rise
The report showed a marked increase in long-term inflation expectations for the next five to 10 years, rising to 3.2% from 3.0% to reach the highest level since 2011.
Inflation remains sticky in April, rising by 4.9% over a year ago
April's increase in the consumer price index was in line with RSM's forecast of a 4.9% gain and the consensus estimate of 5%, and will most likely support the doves at the Federal Reserve who want to pause interest rate increases.
Business Travel Expenses: Per Diem vs Actual Expenses
If your employees travel for work purposes, it’s important to understand the various methods of tracking and substantiating travel expenses so that you can maintain accurate records, control costs, and take advantage of potential tax benefits. Watch this video to learn about business travel expenses, per diem allowances, and how they affect employees and employers.
Invest in Minnesota’s Future: The Benefits of the Beginning Farmer Tax Credit
If you’re a beginning farmer in Minnesota, don’t miss out on the valuable financial incentives offered by the Minnesota Beginning Farmer Tax Credit program. This program facilitates the transfer of farmland, equipment, and other assets to new farmers while also providing annual state tax credits for landlords and sellers. Read on to learn more about the application process and funding approach.
6 Misconceptions of a Revocable Living Trust
A revocable living trust, or RLT, offers many benefits, including probate avoidance, privacy, and flexibility in managing assets during one’s life, incapacity, and death. However, despite their popularity as an estate planning tool, there are many misconceptions surrounding revocable trusts that lead to confusion and misunderstandings. Watch this video to learn about the top six misconceptions.
Fed hikes rate a quarter point while creating framework for a pause
The 25 basis-point increase was accompanied by changes in the Federal Open Market Committee’s statement that imply a possible pause at the Fed’s next meeting in June with a bias toward more tightening should inflation prove sticky.