The Minnesota Unclaimed Property Act is a consumer protection law intended to allow the owner of financial assets to retrieve property even after an extended period. The State obligates every business to assist in this retrieval process by reporting any unclaimed property held. What is Unclaimed Property? Unclaimed property refers...
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Surprises are not a good thing when it comes to your finances. Unfortunately, a lack of retirement income planning can set you up for potential spikes in income that could result in higher-than-necessary taxes. Here are 4 steps to help ensure a smooth and tax-efficient flow of income in retirement....
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As we enter 2025, rental property owners and managing agents in Minnesota, must be aware of the new requirements for filing Certificates of Rent Paid (CRP). The Minnesota Department of Revenue has introduced a significant change. This year, all CRPs must be submitted online using the state’s e-Services system. This...
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Many of the provisions in the Tax Cuts and Jobs Act (TCJA), the first Trump Administration’s signature tax law, are scheduled to sunset at the end of 2025. Unless Congress acts, the federal gift and estate tax exemption will drop in half — from about $14 million per person...
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On December 26, 2024, the United States Court of appeals for the Fifth Circuit reversed its decision from December 23, 2024, effectively pausing the Corporate Transparency Act (CTA) and its reporting requirements once again. As of now, reporting companies are not required to file BOI reports. As a reminder, the...
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