Proactive service is more than just suggestions and recommendations from a CPA, advisor or consultant – it’s an educational experience that provides you with tools, knowledge and support. That’s why DS+B professionals are active members in professional associations to understand industry trends and hot topics. It’s why we seek out and learn from the best in every business. It’s so we can bring you insight and guidance to run a better business, engage in effective tax planning or understand the financial outcomes of big decisions.

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New Retainage Law | What It Means for Minnesota Subcontractors

Last year was a busy year for lawmakers at the Minnesota Legislature in regard to the construction industry. Going forward, both prime (general) contractors as well as subcontractors need to be aware of the law changes in the statute, as they can affect everything from contracts and scheduling to accounting and project timelines.

New Partnership Audit Rules: Should You Stay In or Elect Out?

The present law partnership audit rules, also known as TEFRA, have been replaced with new procedures that may require adjustment of all items of income, gain, loss, deduction or credit at the partnership level rather than at the partner level. This puts the partnership liable for any resulting underpayment of tax. It’s time to explore your options.

Benefits of an IC-DISC: How Manufacturers and Exporters Can Determine If It’s Right for Their Business

Paul Simons was recently featured in Minnesota Business Magazine’s experts section for manufacturing business owners, called “Gears and Gadgets | GuidePosts.” For qualifying manufacturers and exporters there is an often overlooked tax advantage that they may want to consider that offsets operating income with lower taxed IC-DISC dividend.