Ask The Experts Segment Recorded on August 16, 2023 Joel Gratz, Managing Partner and CPA, and Chelsey Mueller, Manager and CPA, discuss the mechanics of the 1031 real estate sales transaction. Listen Here! Read More...
Ask the Experts – Estate Planning
Ask The Experts Segment Recorded on July 13, 2023 Joel Gratz, Managing Partner and CPA, takes the show with Bill Dean on KWLM's talk show by sharing what you need to know about estate planning. Estate planning is a very individualized process and no two situations are ever the same. Hear a story of estate planning within one of his client experiences and decide if your final wishes are in line today. It's a great reminder to have important money conversations with your loved ones and check on your beneficiaries! Listen Here! Read More...
Ask the Experts – Recent Laws In Legislature
Ask The Experts Segment Recorded on June 7th, 2023 Joel Gratz, Managing Partner and CPA, along with Teresa Carlson, Partner and leader of our Client Accounting and Advisory Services team up with Bill Dean on KWLM with discussion and timelines on the latest legislation and changes coming for both employers and employees. The Sick n Safe Act, also known as sick and safe time, along with the Minnesota Paid Family & Medical Leave Act is going to change natural time off procedures of all employers and employees. They include a description of each, as well as the date they will be effective. Listen to what they must say & gain insight into these two different acts! Listen Here! Read More...
Ask the Experts – Employee Theft
Ask The Experts Segment Recorded on May 5th, 2023 Bradley Pederson, Partner and CFO, takes the show this month with Bill Dean on KWLM and informs listeners on employee theft and the fraud triangles that can occur. 1 in 5 businesses have been impacted, so it's a common issue. Business owners need to be on the lookout and even employees can be stolen from since theft can happen at any paygrade level. Hear his own story of a client and dear friend who was impacted and learn tips to lessen your exposure. Listen Here! Read More...
Paynesville Open House, July 27th!
Thursday, July 27th marks our Paynesville move in celebration! We've gone from renting a one-room office to purchasing and renovating a building into a space ready for our expanding team. Our employees are moving into their new environment and gone are the days of rotating the office between us! Join us for an open house with refreshments and tours as we become a bigger part of the community with you! July 27th, 4 -6 pm 705 Hwy 55, Paynesville, MN Read More...
Secure 2.0 Act in Omnibus Bill
In December 2022, the Secure Act 2.0 was passed. As we get farther into 2023 more conversations are developing around the topic, so we wanted to provide you with a reminder of some of the big takeaways. Required minimum distribution ages increased starting on 1/1/2023: Increased to 73 years old until 2032 Will be increased yet again to 75 on 1/1/2033 Changes to catch-up contributions: Anyone making over $145,000 will be taxed on their catch-up contributions in the year that they are contributed to the account (treated as ROTH) beginning in 2024. In 2025 the limit for catch-up contributions will be increased to $10,000 to 401(k) and SIMPLE plans for individuals ages 60, 61, 62, and 63. Automatic enrollment is Read More...
Christianson Paynesville Office has Relocated and Expanded!
We are proud to announce that we have moved our Paynesville office to 705 State Highway 55 Paynesville, MN effective June 1st, 2023. We were able to expand not only our office but also our Paynesville staff, in large part because of all the support from the Paynesville community since opening our doors 6 years ago. The office expansion is also aligned with our firm’s commitment to expand business opportunities and attract top talent to better serve our clients. “We are extremely happy and excited to relocate to our new office space in Paynesville, “said Chelsey Mueller, Tax Manager at Christianson. “The move represents our continued commitment to serving our clients at the highest levels and reaffirms our commitment to the Paynesville Read More...
Ask the Experts – Public Accounting as a Career
Ask The Experts Segment On April 7th, 2023, Joel Gratz, Managing Partner here at Christianson, and Sara De Roo, Partner joined Bill on KWLM during the "Ask the Experts" segment. This month, Joel, Sara, and Bill took a minute to chat a little about why they choose a career as public accountants, the challenges in the industry today, and why you might want to think about choosing to become a CPA yourself! Listen Here! Read More...
Why Should You File an Extension?
It's been a few months since the Internal Revenue Service (IRS) opened filing on- January 23, and the overwhelming majority of the more than 150 million tax returns for the 2023 tax season have been filed by now. Thanks to the Emancipation Day holiday in Washington, D.C., falling on April 17 this year, you have until Tuesday, April 18 to file your return and pay what you owe. If that still isn’t enough time, the IRS allows taxpayers to file for an extension if they need more time to prepare their tax return. You can obtain a tax extension for any reason; the IRS grants them automatically as long as you complete the proper form on time. Make sure to check your state tax laws; many states require you to file a separate state extension Read More...
Research & Development Credit Changes
The provision from the Tax Cuts & Jobs Act of 2017 which allowed direct expensing of research and development (R&D) costs expired a year ago on December 31, 2021. The Internal Revenue Code (IRC) now reverts back to §174, which requires the capitalization of all costs, direct and indirect, related to research, experimentation, and development, regardless of if the costs would normally qualify for the research and development tax credit under IRC §41. Any U.S. sourced costs capitalized may be amortization over a 5-year period (15-years for international sourced costs), with a half year of amortization taken in the year of capitalization. This has been an area of concern for numerous businesses, especially those in the Read More...
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