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Posts by category Category: COVID-19 SBA Releases New PPP Guidance, Frequently Asked Questions on Loan Forgiveness PPP Loan Forgiveness Application Portal to Open August 10, PPP Lenders Get Ready COVID-19 Business Survival Strategy: Efficiently Manage Your Working Capital 1031 Exchanges – Proposed Regulations on the Definition of Real Property Released SBA Reopens EIDL Small Business Portal, PPP Funds Still Available Minnesota Small Business Relief Grants Program to Begin Accepting Applications on June 23 SBA Clarifies Loan Forgiveness Rules Under PPP Flexibility Act, New Applications Fed Lowers Minimum Loan Size for Main Street Lending Program, Better Terms for Small to Mid Sized Businesses Could Your Strategic Response to COVID-19 Result in Tax Savings? Senate Passes Paycheck Protection Program Fix, Loan Period Extends to 24 Weeks WFH Deductions? Unemployment Benefits Taxable? Stocks, IRAs, and Donations? Answers to COVID-19 Tax Questions. Freezing Your Cash Balance Plan – How Does It Work? SBA Releases PPP Loan Forgiveness Application, Here’s What You Need to Know Partner Compensation Is Now Included in Latest SBA Update, Partnerships May Be Eligible to Increase Their PPP Loan Good News on Good-Faith Certification, SBA Clarifies Guidance for PPP Loans Under $2M Minnesota Counties Extend Property Tax Payment Deadlines and Waive Late Penalties Work(force) from Home: Understanding and Managing Your SOC Compliance Risk Fed Expands Scope of Main Street Lending Program, Here is Your Guide CARES Act Healthcare Provider Relief Fund, HHS Releases $70 Billion in PHSSEF IRS Issues Notice that PPP Loan Expenses Are Not Deductible State Tax Changes Summary SBA Opens Round 2 of PPP Applications, New Law Adds Funding for Both PPP and EIDL Loans. Paycheck Protection Program Update | Applications Now Available New PPP Guidance Issued by SBA for Self-Employed Individuals, Form 1040, Schedule C How Does the PPP Loan Forgiveness Work? Our Proactive Guide for Borrowers CARES Act Provides Three New Tax Planning Opportunities for the Real Estate Industry Main Street Business Lending Program – Fed, Treasury Launch $600 Billion Relief Effort for Small to Mid-sized Businesses MN Department of Revenue Grants 60-day MinnesotaCare Payment Grace Period CARES Act Provider Relief Fund | Medical Practices & Providers Now Receiving Payments IRS Extends More Tax Deadlines Over 500 Employees? Your Business May Still Qualify as Eligible for the PPP Loan. Minnesota Sales and Use Tax Payment Extension Updated Treasury and SBA Guidance – Here are the Most Frequently Asked Questions About PPP EIDL vs PPP | Which One is Right for My Business? What the CARES Act Means for Your Qualified Retirement Plans CARES Act Signed Into Law | Outline of Provisions for Businesses and Individuals Coronavirus Emergency Loans | Small Business Guide and Checklist What is the Paycheck Protection Program? A Brief Overview. Consider Freezing your Cash Balance Plan or Defined Benefit Plan for 2020 Lurie Remains Fully Operational During Minnesota Governor’s ‘Stay at Home’ Executive Order SBA Resources Helpful Links Massive Stimulus Deal Reached; Details Emerging Families First Coronavirus Response Act (FFCRA) Overview Protected: COVID-19 Frequently Asked Questions Minnesota Small Business Emergency Loans Minnesota Extended Filing Deadlines New Guidance on Income Tax Payment and Filing Extensions Florida Resources California Resources Wisconsin Resources Minnesota Resources April 15th Federal Tax Filing Deadline Extended Important Information on IRS Extension of Tax Payment & Filing Deadlines COVID-19: Business Implications and Available Resources Lurie, LLP Staff Now Working Remotely Lurie, LLP’s Response to COVID-19 and to Our People, Clients, and Community Category: SBA Category: Healthcare Effective Compensation Design: Why It Matters for Your Medical Practice Monthly KPI Dashboards: A Powerful Tool for Your Dental Practice Revenue Cycle Management: A Remedy for Aging Receivables? How to Negotiate a Better Payer Contract: 3 Must-dos Before Signing Growing Your Practice? Consider Cost Per Encounter Top 10 Ways to Maximize Revenue in Your Medical Practice How to Effectively Manage Millennials in Your Healthcare Practice The Triple Benefit of Revenue Cycle Management: Patient Care, Employee Efficiency and Profit Managing Payer Contracts: Is Your Practice Being Paid Correctly? Done Correctly, Deferred Compensation Plans Create Win-Win for Physician and Business Using Monthly KPI Dashboards to Improve Your Medical Practice Performance Top 5 Daily Key Performance Indicators (KPIs) Medical Practices Should Monitor to Improve Financial Performance Category: News Disaster Loans Available for MN Businesses, Non-Profits & Residents Affected by Civil Unrest Lurie Again Named Among the Best CPA Firms for Women, Best CPA Firms for Equity Leadership by the Accounting MOVE Project Lurie LLP Certified as a HITRUST External Assessor Lurie Wealth Advisors Named to Accounting Today’s Top Firms by AUM 2020 List Lurie Leaders Julie Helms and Angela Remington Complete Moore NA Dynamic Growth Academy Is It Time to Refinance? The SECURE Act changes the rules for employers on retirement plans State Tax Modifications Effective January 1, 2020 2020 Tax Deadlines Lurie, LLP admits Sean Linton and Jeremy Palm into partnership Plan year 2020 deadlines for calendar year retirement plans Lurie, LLP Expands Healthcare Practice Group Spending bill extends tax breaks, adds retirement account provisions Wayfair revisited — It’s time to review your sales tax obligations How safe are your online passwords? 2019 Tax Planning for Individuals: Opportunities to Consider 2019 Tax Planning for Businesses: Partnership Filing Requirements 2019 List of Required Amendments for Qualified Retirement Plans 2019 Tax Planning for Individuals: FSA Contributions 3 Qualified Retirement Plan Ideas for Business Owners 2019 Tax Planning for Businesses: Revenue Recognition Attention: New Lease Accounting Rules are Delayed for Private Companies 2019 Tax Planning for Individuals: Bonus Pay Structuring 2019 Tax Planning for Businesses: State Nexus 2019 Tax Planning for Individuals: Retirement Planning 2019 Tax Planning for Businesses – Real Estate / Depreciation 2019 Tax Planning for Individuals – Maximizing Deductions Note on 2018 Tax Filings and Minnesota Tax Conformity Benefits of opportunity zones for capital gains or 1031 exchanges IRS Releases 2020 Limits on Benefits and Contributions Accelerate depreciation deductions with a cost segregation study The U.S. Department of Labor finalizes the new overtime rule IRS issues final QBI real estate safe harbor rules Tax update: MinnesotaCare taxes will continue after 2019 The key to retirement security is picking the right plan for your business Transaction Advisory Team Announces Latest Transaction Employer’s Outsourcing Payroll Responsibilities Deadline to implement a new Safe Harbor 401(k) Plan for 2019 is October 1 Expenses that teachers can and can’t deduct on their tax returns A few basics of safe harbor 401(k) plans DOL expands retirement plan options for smaller businesses Update on Minnesota tax conformity Alyson Galarowicz honored with Lurie Client Experience award Lurie ranked among INSIDE Public Accounting’s top 200 accounting firms in the U.S. How to protect yourself from the Capital One data breach What happens if I cannot make the minimum required contribution to my Cash Balance Plan? Minnesota’s New Wage Theft Law Lurie Wealth Advisors named to Accounting Today’s 2019 Top 150 Firm by AUM Lurie, LLP named one of Accounting & Financial Women’s Alliance Best CPA Firm for Women and Best CPA Firm for Leadership Equity 2019 Entrepreneurial Experience Matt Almer honored with Lurie Client Experience award Update on Opportunity Zones Cash Balance Plans | What should advisors know? Derek Chamberlain honored with Lurie Client Experience award Partner Dave Brauer testifies at House Tax Committee Meeting Plan year 2019 deadlines for calendar year retirement plans 2019 Standard Mileage Rate Happy New Year from all of us at Lurie! Tax opportunities to consider during the 2018 filing season Partnership Audit Regime | How does this impact your 2018 filing? Family and Medical Leave Credit IRS Releases 2019 Limits on Benefits and Contributions Social Security Wage Base Increases for 2019 Transaction Advisory Team Announces Latest Transaction New Tax Law | What should advisors know? Reminder: 2017 Cash Balance Plan and Traditional Defined Benefit Plan Contributions are due 9/15 Foreign-Derived Intangible Income (FDII) – a New Deduction for Corporations Cash Balance Plans + Tax Reform = A Great Opportunity for Business Owners IRS issues proposed regulations on the 20% pass-through deduction The GILTI Tax | New anti-deferral rules for shareholders of controlled foreign corporations Proposed 168(k) Regulations | Additional First Year Bonus Depreciation Are you terminating your SIMPLE IRA at the end of 2018? Lurie ranked among INSIDE Public Accounting’s top 200 accounting firms in the U.S. Hidden Benefit within Tax Reform Transaction Advisory Team Announces Latest Transaction South Dakota v. Wayfair | Panic or Inevitable Change? Lurie, LLP named one of Accounting & Financial Women’s Alliance Best CPA Firm for Women and Best CPA Firm for Leadership Equity Retirement Plan Options for Small Businesses Cash Balance Plan FAQs Lurie, LLP Named Meda’s Corporation of the Year Adding to the Lurie Family | A Message from Beth Kieffer Leonard Lurie, LLP adds Hagen Palen & Co, CPAs, PA to the Lurie family Tax Day – April 17, 2018 Identity theft still on the IRS ‘Dirty Dozen’ list Lurie named to “Beyond the Top 100: Firms to Watch” and “Top Firms: The Midwest” by Accounting Today Plan year 2018 deadlines for calendar year retirement plans Tax Return Preparer Fraud Ranks on 2018 ‘Dirty Dozen’ 2018 Tax Pocket Guide Deemed Repatriation of Foreign Corporate Earnings and Profits – Tax Implications for 2017 Tax Years Changes to federal estate, gift, and generation-skipping transfer tax laws Did you rent your house for the Super Bowl? 2018 Tax Legislation Business Entity and Effective Rate Review Kate Siegrist named one of Minneapolis/St. Paul Business Journal’s 40 under 40 New deduction impacting pass-through entities in 2018 Interest expense deduction – What are the new rules for businesses in 2018? We’d like to take a moment… Minnesota Homeowners – Guidance on Prepaying Real Estate Taxes before December 31, 2017 Tax Reform Will Change Treatment of Real Estate and State and Local Taxes IRS Issues 2018 Standard Mileage Rate Final Tax Reform Bill Revealed Correction to Social Security Wage Base for 2018 Farley Kaufmann and Joel Lebewitz Earn Prestigious CEPA Designation 3 Qualified Retirement Plan Ideas for Business Owners Beth Kieffer Leonard named to 2017 CPA Practice Advisor Most Powerful Women in Accounting Be on the lookout for an IRS notice for late foreign filings (Form 5472) Senate Reveals Tax Bill Lurie ShareFile Client Portal Tutorial House Reveals Tax Reform Bill 2018 Changes to Tax Benefits IRS Releases 2018 Limits on Benefits and Contributions Social Security Administration announces 2018 social security wage base Having a transition strategy is important, however most Twin Cities business owners don’t have one. Employers to begin using revised form I-9 Equifax Data Breach – What To Do Lurie ranked among INSIDE Public Accounting’s Top 200 accounting firms in the U.S. Deadline to implement a new Safe Harbor 401(k) Plan for 2017 is October 1 Minnesota Announces Changes to Estate Exemption Amounts Minnesota Law Changes that Could Affect Your Limited Liability Company (LLC) IRS Announces HSA / HDHP Limits for 2018 Try This Tax Strategy to Maximize Your Retirement Savings Renata Raisanen receives 2016 AICPA Elijah Watt Sells Award Lurie Adds Three into Partnership Stacie Usem Receives the Women’s Health Leadership TRUST Jean Harris Award Is it time to review your business entity structure? 4 Ways to Prepare Your Business for SSAE 18 on May 1, 2017 Don’t Overlook These Four Tax Breaks Are your beneficiary designations up-to-date? Tax Time Guide: Protect Personal, Financial, Tax Information and Computers Lurie named to Minnesota Business Magazine’s 100 Best Companies to Work For in 2017 Lurie receives 2016 WIE Winner’s Circle Awards 5 Key Things to Consider When Renting Your Home Tax Filing Dates for 2017 Meal & Entertainment Study Tax strategies to finish out 2016 Year End Tax Tips for Businesses 2016 Holiday Video – “Your Next Generation” Will new salaried overtime regulations impact your business? IRS Releases 2017 Limits on Benefits and Compensation Ready to tackle FAFSA? Two new changes you need to know. Lurie wins 2016 LEA EDGE award for Innovative Firm of The Year Beth Leonard and Stacie Usem Receive Innovation in Finance Award Employee Compensation – Can Partners Be Treated Like Employees? Deadline to implement a new Safe Harbor 401(k) Plan for 2016 is October 1st. SKOL! Learn about Lurie & receive 2 free Vikings home opener tickets Minnesota Unemployment Insurance Tax Reduction Credit Lurie LLP named to the Accounting & Financial Women’s Alliance and AWSCPA 2016 Best Public Accounting Firms for Leadership Equity What the US Government does with information collected from individual tax returns Beth Kieffer Leonard & Kimpa Moss Profiled in Minnesota Business Magazine Two Free Paul McCartney Tickets for May 5th Is a Cash Balance Plan right for you and your business? Lurie named to Minnesota Business Magazine’s 100 Best Companies to Work For in 2016. Is it time to review your business entity structure? It’s time to think about the research and development credit again Revisiting long-term plans for fixed asset purchases and building improvements Congratulations to Chris VanSchooneveld on obtaining a CVA designation Lurie and Beth Kieffer Leonard profiled in Star Tribune Kimpa Moss featured in Minnesota Business’ article on WPO Todd Lifson featured in MSP Business Journal’s Table of Experts: Franchising Pre-paying 2016 expenses through Lapping Deductions Deducting your health care expenses Tax extender bill passes, what you should know. 20 moments from the past 20 years that moved the whole world forward Looking Ahead to 2016 and Beyond How to maximize deductions with 2016 TPR changes and what to do now Lurie celebrates 75 years with ceremonial lighting of new building sign Lurie partner, Kimpa Moss, interviewed by MPR News Lurie wins 2015 LEA EDGE award for Innovative Firm Initiative Volunteers needed for We Day in Minnesota! Jennifer McNeal named among 2015 Top Women in Finance Lurie Besikof Lapidus & Company, LLP announces name change Living the Lurie Story Lurie ranked among INSIDE Public Accounting’s Top 200 accounting firms in the U.S. Joel Lebewitz named new chair of MEDA Lurie admits Greg Flannigan and Jennifer McNeal into partnership Thank you, Lurie clients and friends Obtaining Angel Investors from China Category: Business Valuation The Four Cs | Human Capital What creates value for a company? Key Questions Regarding Succession Planning Effective Working Capital Management Can Unlock Company Value Why valuation multiples are more complicated than you may think How corporate structure can impact your business’ valuation Category: Entrepreneurs Budgeting is key to a successful start-up Research & Development Tax Credits for Start-up Companies Minnesota’s Angel Tax Credit Beth Kieffer Leonard featured on U.S. Bank Power of Possible podcast December may seem far off, but now is the time to prepare for SOC 2 changes! Own a business? Here is why you should choose a 401(k) over a SEP. R&D Tax Credits for Digital Marketers MicroOptx Wins Minnesota Cup Competition MN Cup Kicks Off March 20 Truth or BS Podcast New I-9 Form for 2017 Pre-paying 2017 expenses through Lapping Deductions Proposed IRS Regulations Could Impact Family Owned Businesses How Can Women Entrepreneurs Get More Funding? ENTREPRENEURS AND INNOVATORS— PUT YOUR NEW BUSINESS CONCEPT IN PLAY WITH THE 2016 MN CUP! Angel Investment Tax Credit Update Category: Press Releases Chris Van Schooneveld Earns Prestigious CEPA Designation Lurie, LLP named one of Accounting & Financial Women’s Alliance and AWSCPA Best Public Accounting Firms for Leadership Equity Category: Retirement Planning Category: Tax and Accounting Category: Tax Reform Category: Technology Category: Transaction Advisory Category: Video Category: Resources Is a Cash Balance Plan right for you and your business? Category: Succession Planning Category: Uncategorized Required Minimum Distributions for Actively Employed Owners My Templates KPI Dashboards Pop Up Healthcare Main Page Pop Up PPP Organizer - Mail Campaign Landing Page Mail Campaign Pop Up - PPP Loan Forgiveness PPP Loan Forgiveness – Step 2 Option 3 PPP Loan Forgiveness – Step 2 Option 2 PPP Loan Forgiveness – Step 2 Option1 PPP Loan Forgiveness – Step 1 PPP Organizer - IE Optimized PPP Organizer Full Screen PPP Loan Tracker Default Kit Employees Kevin H. Besikof, CPA, CVA, CMA, CLP, CFF David D. Brauer, CPA, MBT Matthew T. Brown, CPA, JD Gregory S. Flannigan, CPA, MST Wendy C. Frame, MBA, ERPA, QPA Libby S. Hornibrook, CPA Beth Kieffer Leonard, CPA, CGMA Todd J. Lifson, CPA, CFE, CGMA, IFRS Cert. Sean P. Linton, CPA, CITP Todd J. Lurie, CPA Kimpa A. Moss, CPA, CGMA Jeremy D. Palm, QPA, QKA Timothy B. Schmidt, CPA Chris S. Schultz Nathan F. Shubert, CPA Kate M. Siegrist, CPA, CISA, CRISC, HITRUST CCSFP Stacie G. Usem, CPA, CGMA Daniel L. Utz, CPA Howard L. Wilensky, CPA, CFE, CGMA Matthew M. Almer, CPA Maria G. Andrade-Vera, CPA Tim M. Baranick, CPA Rhoda A. Beaird, EA Michael D. Beck, CPA Bill L. Bodner, CPA, CISA Shannon L. Brown Derek R. Chamberlain, CPA Tammy R. Dehne Annette T. Dunn Robert S. Engmark, CPA Joan Haug, CPA Julie A. Helms, CPA Amy M. Jongerius Jennifer Joynes, EA Chad R. Koebnick, CPA, MBT Lindsey J. Kolden, CPA Doug Kositzke, CPA Alyssa D. Lundberg, CPA Cory J. Markling, CFA, MBA Mary Martin-Kahn, EA Brian J. 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