Although these distributions are required each year and generally taxable, several strategies can be used to minimize taxation of the distribution and optimize savings for the account holder.
IRA Required Minimum Distributions
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Business
Calculation of Value: Why it’s important for your Business
COVID-19 has been a trying time for businesses and may be the right time to take advantage of business transition opportunities. With the current economic situation, gifting programs should be evaluated because of lower company values.
Post-Covid: Owning a Business in the New Normal
Managing through the COVID-19 business disruption, you have been adapting and stretching your creativity to safeguard business continuity. You are learning what it takes to thrive in the new normal of business.
Minnesota Small Business Relief Grant Application
The Minnesota Legislature passed the Small Business Relief Grants Program. The program approved approximately $62 million for grants to Minnesota small businesses that have been impacted by the pandemic.
Minnesota Sales & Use Tax Accelerated – June Payment
Reminder – Taxpayers who have a Sales and Use Tax liability in excess of $250,000 in the state’s prior fiscal year (July 1 to June 30), are required to make an accelerated payment of the expected June sales tax liability.
PPP: New Interim Final Rules and Forgiveness Applications
The SBA and Treasury have released new Paycheck Protection Program guidance and forgiveness applications. This new material addresses changes brought by the Paycheck Protection Program Flexibility Act, including those to PPP loan maturity, deferral, and forgiveness.