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11.28.22

Intangible assets: How must the costs incurred be capitalized?

Articles
Business Owners
Executives
Business Tax

These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What makes intangibles so complicated? IRS regulations require the capitalization of costs to:...

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11.22.22

Year-end tax planning ideas for your small business

Blog
Business Owners
Business Tax

Now that Labor Day has passed, it’s a good time to think about making moves that may help lower your small business taxes for this year and next. The standard...

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11.22.22

Year-end giving to charity or loved ones

Articles
Families
Retirees
Individual Tax & Planning

The holiday season is here and many people plan to donate to their favorite charities or give money or assets to their loved ones before the end of the year....

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11.21.22

Is your business closing? Here are your final tax responsibilities

Articles
Business Owners
Business Tax

Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors: An owner retirement, A lease expiration, Staffing shortages, Partner conflicts, and Increased supply costs. If...

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11.15.22

How savings bonds are taxed

Articles
Families
Retirees
Individual Tax & Planning

Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself. You may wonder how...

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11.14.22

Computer software costs: How does your business deduct them?

Articles
Business Owners
Executives
Technology
Business Tax

These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in your products or services or sells...

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IRS documents
11.09.22

How the IRS Will Use Funding from the Inflation Reduction Act of 2022

Newsletter
Business Owners
Families
Business Tax
Individual Tax & Planning

On August 16, 2022, President Joe Biden signed The Inflation Reduction Act of 2022 into law. One of the provisions of the legislation was the additional supplemental funding of $79.6...

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A happy family
11.09.22

How to Protect and Provide for Your Children in Your Estate Plan

Newsletter
Families
Family Office
Wealth Management

As we move through the fall and into the holiday season, I am always reminded how important family is to me. When gathering with family, it causes me to question...

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a compass pointing to the word Lease
11.09.22
Jason A. Marvin, CPA

Off-Balance Sheet Debt No More – The New Lease Standard ASC 842

Newsletter
Business Owners
Executives
Advisory
Outsourced Accounting

Almost 30 years ago, the United States, United Kingdom, Australia, Canada, and the International Accounting Standards Board published a discussion paper that proposed the elimination of an operating lease. Operating leases were...

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a person reading a message while working on a laptop
11.09.22
Jon T. Meyer, CFP®

WFA—an Acronym Your Children and Grandchildren Might Regret

Newsletter
Families
Family Office

My oldest son is a senior in college and starting to interview for his first job. He is in civil engineering and has an awesome resume; COVID did not slow...

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“BGM” is the brand name under which BGM CPA, LLC and BGM Group, LLC provide professional services. BGM CPA, LLC and BGM Group, LLC practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations, and professional standards. BGM CPA, LLC is a licensed independent CPA firm that provides attest services to its clients, and BGM Group, LLC and its subsidiary entities provide advisory, and business consulting services to their clients. BGM Group, LLC and its subsidiary entities are not licensed CPA firms. The entities falling under the BGM brand are independently owned and are not liable for the services provided by any other entity providing services under the BGM brand. Our use of the terms “our firm” and “we” and “us” and terms of similar import, denote the alternative practice structure conducted by BGM CPA, LLC and BGM Group, LLC.

BGM WEALTH: Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.