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December 2013 Published for the confidential use of clients and professional associates. |
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BGM WEALTH MANAGEMENT AND
TRUNORTH JOIN FORCES | |
We are excited to announce that BGM Wealth Management and TruNorth have merged, and are operating the combined practice as BGM TruNorth Wealth Partners headquartered in Bloomington, Minnesota. The combined firm will manage over $500 million in assets and serve approximately 330 households. Peter Rekstad, CFP®, ChFC®, CLU®, of TruNorth will be the CEO of the new firm, while Jon Meyer, CFP®, of BGM Wealth Management will serve as COO.
Clients of BGM TruNorth Wealth Partners will enjoy access to an expanded team of professionals working together to meet their needs. BGM TruNorth Wealth Partners will include eight Certified Financial PlannerTM professionals, two Accredited Investment Fiduciaries, and a Personal Financial Specialist. Staff members have a diversity of practice specialties, including financial planning, investment management, retirement planning, taxes and accounting, insurance, and endowments and foundations. |
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IRS ISSUES FINAL REGULATIONS ON DEDUCTION AND CAPITALIZATION OF EXPENDITURES RELATED TO TANGIBLE PROPERTY (T.D. 9636) | |
By Mark Cossette, CPA
On September 19, 2013, the IRS released final regulations that apply to tax years beginning on or after January 1, 2014. These regulations provide a framework for distinguishing between capital expenditures and deductible business expenses. Read more... |
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PLAY A GAME OF WOULD YOU RATHER | |
By Jon T. Meyer, CFP®
Assuming you needed a new car, the best time to buy one in the last decade would have been 2008 through 2010. When the economy was in horrible condition, buyers of cars got great deals. Now that the economy is in a slow but recovering mode, it is time to switch attention from finding great spending deals to finding great savings opportunities. Read more... |
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WHY DO I NEED A BUSINESS VALUATION? | |
By Calvin Shannon, CPA
Business owners often ask, "Why do I need a business valuation?" While not intended to be a comprehensive list, the following are several of the main reasons to engage a qualified professional to perform a business valuation. Read more... |
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YEAR END BUSINESS REMINDERS | |
By Vicki Hughes
As the end of 2013 is fast approaching, we want to remind you of some important reporting requirements. Read more... |
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BUSINESS PHYSICAL EXAM | |
By Dane Boeckermann, CPA
Every year, people receive annual physicals from their physicians to monitor and manage their personal health. Much like individuals, businesses can be healthy or unhealthy, so it is important for business owners to perform annual physicals of their business to monitor and manage its health. Read more... |
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LEASE ACCOUNTING | |
By Jerome Reutzel, CPA
Accounting rule makers have been proposing changes to lease accounting for more than twenty years. In 2006, the U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) began working on revising lease accounting standards. Read more... |
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EMPLOYEE ANNOUNCEMENTS | |
CONGRATULATIONS
TAX CALENDAR
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CONTACT US
4470 W 78th St Circle Suite 200
Bloomington, MN 55435
952-844-2500
St. Paul office:
332 Minnesota Street Suite E-1100
St. Paul, MN 55101
651-227-9431
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