You may have noticed your Minnesota unemployment tax rate increased this year. Due to the high claims and benefits payouts during the pandemic, the state’s unemployment reserves were depleted and were in deficit
with Customers (ASC 606) has gone into effect and will be significantly changing some financial statements and the recognition of revenue
Many business owners offer a 401k plan to their employees. It is a great way to help employees save for retirement, and it allows the owner to contribute to their account as well. It can also be an attractive benefit for hiring and retaining employees in the current market.
Have you recently hired a new employee? Did you know you need to report the new hire with the State of Minnesota?
Sales and use taxes can be the most complicated tax obligations for many businesses. Generally, local sales tax should be charged to customers on all sales made in a local taxing area unless the customer provides an exemption certificate.
Succession is inevitable in a business. When the time comes to start thinking about retiring and/or transferring ownership, it is essential to understand common issues related to the process.