Blog

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...

The IRS will audit hundreds of thousands of individual tax returns this year. Although that represents but a small percentage of all returns filed, this is little consolation if your return is among those selected for audit. But with proper preparation and planning, you should fare well. The purpose of...

Year-end financial planning is always a relevant topic come December, but it is especially important to consider this year with the uncertainty relating to  numerous tax increases scheduled to go into effect on January 1st if Congress does not act to prevent them. Not only will individual tax rates go...