As the end of 2026 approaches, now is the time to take a closer look at the tax, payroll, accounting, and business considerations that could affect you or your organization. Our annual Tax Newsletter brings together timely information and practical insights from professionals across our firm to help clients prepare for year-end conversations and the upcoming tax season.
Outsourcing and Consulting
What you need to know about IRS standard mileage rates for 2026
The IRS raised the standard mileage rates for the second half of 2026, effective July 1, with the business rate increasing from 72.5 cents to 76 cents per mile. Taxpayers who use their vehicle for business, medical, or qualifying moving purposes will need to track mileage separately for each half of the year. Learn what the new rates mean for your deductions, reimbursement policies, and recordkeeping.
What All Business Owners Should Know About Minnesota’s Classification Law for Independent Contractors
In 2024, Governor Walz signed into law significant changes to Minnesota’s independent contractor and employment laws. Here’s what you need to know to navigate these changes successfully. Why Does Worker Classification Matter? Improperly classifying employees as independent contractors can result in steep penalties—up to $10,000 for each violation. This misclassification can also trigger back taxes,… Continue Reading
What is BOI Reporting?
How BOI Reporting will impact your business and what your next steps could be We have been closely monitoring updates regarding The Corporate Transparency Act (CTA). There are recent crucial developments that businesses should be aware of. Christianson has compiled a list of our most frequently asked questions and what’s required to maintain compliance. What… Continue Reading
The Power of Bundling Financial Services for Small Businesses
We get it – it’s a difficult and complicated time to be a small business owner. Experts claim we’re not in a recession, though the public feels differently. Inflation remains an ever-present challenge. New governmental regulations, like the new Minnesota ESST law, always arise to provide challenges. Staffing continues to be difficult. And, more than… Continue Reading
Minnesota Earned Sick and Safe Time (ESST) law
What is the Minnesota Earned Sick and Safe Time (ESST) law? Minnesota Earned Sick and Safe Time (ESST) is paid leave employers must provide to employees in Minnesota that can be used for certain reasons, including when an employee or family member is sick, an employee’s or family member’s mental or physical illness, the closure… Continue Reading
