By Cheryl Ellefson, CPA, MBT, CFP® Being the Executor of an Estate Is Not an Easy Job Your friend or loved one passes away. If you’re the executor of their estate, you’re left with more than your grief. You’re also left to pick up the pieces, which could include carrying out the decedent’s desires, following […]
Quick Guide: Accounting for Pandemic Relief in 2021
by Joy Mcadoo, CPA Relief for your Business It’s hard to keep track of the many pandemic-relief programs. There’s the Paycheck Protection Program, the Employee Retention Credit, and the Families First Coronavirus Response Act credits, to name a few. Knowing what’s taxable and not taxable, as well as how to report it on your financial statements, [...]
Shopping for School Supplies? Don’t Miss These Tax Benefits
by Jason Loven, CPA, CCIFP® School Supplies and Tax Benefits From hefty textbooks and shiny band instruments to multi-colored pens and sleek notebooks, the back-to-school shopping list can quickly add up. This year, as you outfit your children for learning, keep these tax benefits in mind: Minnesota’s K-12 Education Subtraction and the K-12 Education Credit. The subtraction […]
Why Your Passwords Are Great Until You Die
By Cheryl Ellefson, CPA, MBT, CFP® We have so many passwords. You use one to get into your phone, another to log into your computer, and yet another to open your email inbox. Your bank accounts, shopping accounts, and social media accounts have…you guessed it, a password. Of course, passwords are necessary to keep our […]
How to Reap the Tax Benefits of Charitable Giving During Retirement
Most people know that donating to charity can have tax benefits. But did you know that with the recent tax code changes, fewer and fewer people are benefiting from their cash donations? In fact, you’re even less likely to benefit from your charitable giving if you aren’t making mortgage payments or have a lower annual […]