Blog

Minnesota Governor Mark Dayton signed an Omnibus Tax Bill (HF 677) into law on May 23, 2013 that creates a new Minnesota Gift Tax and makes major changes to the Minnesota Estate Tax. As of 2012, Minnesota was one of only 16 states and the District of Columbia to impose an...

A 401k audit may sound complicated and intimidating. As new requirements are introduced, 401k audit standards continue to get more complex, but with an experienced group of CPAs at the right firm, the audit does not need to be a difficult process. 401k audits are required by the Department of...

With all the Federal and Minnesota tax law changes, now is a good time to revisit your planning and avoid year-end surprises.  Here is an overview of some of the changes for 2013: Net Investment Income Tax (also known as the Medicare contribution tax):   We have heard about this tax...

Entrepreneurs often see accounting for a small business as a necessary evil, even going so far as to equate it with going to the dentist; you might not enjoy it, but if you don’t tend to it periodically you can get into serious trouble.  Just like brushing and flossing each...

Happy New Year!　 With all of the publicity of the fiscal cliff over the past few weeks, we wanted to make sure you were aware that the EMPLOYEE portion of FICA has reverted to the old rate of 6.2% (from 4.2% for the past two years). Since this is withheld from...