tax

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A new accounting standard issued by the Financial Accounting Standards Board (FASB) will soon require companies to recognize leases on their balance sheets. In doing so, it could have a major impact on your banking relationship and covenants—and, in turn, impact your access to new capital. Read More
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President Trump has made it a campaign priority to bring manufacturing back to the United States. While details are yet to emerge on tax and trade policy proposals from the new administration, there is a potential tax saving opportunity that U.S. manufacturing and distribution businesses may not be aware of - and could take advantage of in 2017. Read More
This week, WalletHub — an online financial resource website — performed an in-depth research project to assess the fairness of different state and local tax systems. WalletHub based the research on income taxes, sales taxes, excise taxes and property taxes. Read More


Until October 1, the Minnesota Department of Employment and Economic Development (DEED)'s Angel Tax Credit program is offering a financial boost to women- or minority-owned, or Greater Minnesota-based businesses. More than $1 million in tax credits have already been awarded, and DEED still has $3.7 million in Angel Tax credits remaining. Read More
In 2015, the Minnesota Angel Tax Credit will reserve $7.5 out of $15 million for three high-priority startup groups: minority- and women-owned businesses as well as businesses headquartered in Greater Minnesota. Read More
Doing your taxes may be a drag, but brother-sister business partners Mark and Alyssa Fox of Fox Tax are trying to make the process less painful.
 
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Image via rpeteg on Flickr

On Feb. 25, Minnesota legislators gathered for their first week back in session. The state’s $1.28 billion budget surplus, which was part of the budget forecast, was top of mind. News outlets reported that the surplus was yet another sign of the state’s strong economic recovery. But most Republicans said the dollars should go back to the taxpayers. Read More

Rep. Erik Paulsen (left) and Lucid Brewing co-owner Jon Messier

On Monday, Jan. 6, historic cold temperatures didn't stop Congressman Erik Paulsen from discussing legislation that's close to the heart of the Minnesota micro-brewing community. Read More
As of July 1, Minnesota requires major online sites like Amazon to collect the state's 6.875 percent sales tax. The tax isn't new, just newly enforced. Technically, shoppers were supposed to report and pay the sales tax on their own for online purchases, but who does that sort of thing? Now, online shoppers won't have a choice. Read More