Security Spotlight: Endpoint Detection and Response
In our increasingly digital world, organizations face new and persistent threats to cybersecurity. Endpoint Detection and Response (EDR) …
First Quarter 2024 Market Perspective
There was much discussion in the first quarter about when the Federal Reserve (the Fed) might start cutting …
The Power of Integration: Making Smarter Financial, Tax & Estate Planning Decisions
In an ever-changing economic landscape, navigating the intricacies of financial, tax, and estate planning can be complex and …
Remembering Don Zibell
It is with a heavy heart that we share the news of former Boulay Partner Don Zibell’s passing on …
2024 Roth IRA Limits and the Backdoor Roth Strategy
If you are looking for a smart way to save for retirement, you may want to consider opening …
Security Spotlight: Business Impact Analysis
In today’s unpredictable business landscape, companies face a wide range of risks. From cyber threats to natural disasters, …
Three Signs Your Business Needs an Outsourced Bookkeeper
Owning a small business comes with a unique set of challenges, and managing the financial aspects can often …
Accessing Retirement Funds Early: A Guide for Employer 401(k) Plan Participants
Retirement accounts are like a financial safety net meant to provide for the golden years. However, life often …
What is a Disclaimer and Why Use One in Estate Planning?
Estate planning includes decisions about the individuals or charities who will receive gifts, bequests, or inheritance from an …
Choosing a Trustee: Individual or Corporate?
If you have a trust, you need to appoint a trustee. But how do you choose the right …
Crafting Your Investment Strategy: Understanding the Factors of Long-Term Return Expectations
To achieve your financial goals, it may be important to take a strategic and informed approach to wealth …
Filing Taxes in the Year of Death
In the year of someone’s death, several tax returns may need to be filed, depending on the individual’s …
The Importance of Beneficiary Designations in 401(k) Planning
Download PDF When it comes to retirement planning, it’s easy to overlook the importance of beneficiary designations. However, …
Independent Contractor vs. Employee Status: The DOL Issues New Final Rule
The U.S. Department of Labor’s (DOL’s) test for determining whether a worker should be classified as an independent …
Clarify Your Company’s Future with an ESOP Feasibility Study
Deciding the next steps for your business may be a stressful, emotional and uncertain process. There are many …
Fiduciary Duties in an Employer 401(k) Plan: Choosing Between Passive and Active Investments
Mandated by the Employee Retirement Income Security Act of 1974 (ERISA), the selection and monitoring of retirement plan …
Security Spotlight: Information Classification
In an age where data is a prized asset, organizations face mounting pressure to protect sensitive information from …
First Quarter 2024 Market & Economic Update – On-Demand Webinar
In this 25-minute on-demand market update webinar, Scott Nelson, Senior Wealth Manager, discusses with Chad Carlson, Chief Investment …
Tips from an Outsourced Bookkeeper: Avoiding Common Bookkeeping Errors
Effective bookkeeping is the backbone of financial stability for small businesses. However, the complexities of financial management can …
Charitable Giving: Private Foundations vs. Donor-Advised Funds
Donating to charitable causes is a great way to leave a lasting philanthropic impact for years to come. …
Using Account Segregation in an ESOP
This article was featured in the National Center for Employee Ownership (NCEO)’s January 2024 Newsletter. It is based …
2024 Tax Calendar
To help you make sure you don’t miss any important 2024 deadlines, we’ve provided this summary of when …
Security Spotlight: Single Sign-On (SSO)
As the digital landscape expands and organizations grapple with increasingly complex cybersecurity challenges, implementing robust security measures has …
Businesses: Do You Have to Comply with the New Corporate Transparency Reporting Rules?
Your business may soon have to meet new reporting requirements that took effect on January 1, 2024. Under …
Seize Your Moment with Tax Sunsets
The temporary nature of tax laws imparts a sense of urgency on taxpayers, especially as it relates to …
Fourth Quarter 2023 Market Perspective
From a financial and economic point of view, 2023 was memorable for defying expectations. When 2023 began, there …
Meghan Hannon Featured on Kare 11 News | Pros and Cons of 401(k) Loans
Meghan Hannon, CRPS®, Senior Retirement Plan Manager, was featured on a Kare 11 News segment in December. In …
Security Spotlight: User Access Provisioning and Deprovisioning
In an era dominated by digital transformation, organizations are increasingly dependent on technology to operate efficiently. With this …
Managing ESOP Distributions
Employee Stock Ownership Plans (ESOPs) stand as an innovative approach for companies to empower their workforce by offering …
Boulay Welcomes New Audit Manager
Boulay recently hired Nick Scidmore, CPA as a new Audit Manager. He joins Boulay with over seven years of …
Boulay Welcomes New Audit Manager
Boulay recently hired Olivia Fernandez, CPA as a new Audit Manager. She joins Boulay with over seven years …
Gifting to a 529 Plan
Education costs continue to rise across the U.S., making it difficult for many students to afford the institution …
Charitable Donor-Advised Funds: A Tax-Efficient Gift
In this season of giving, many of us are looking for opportunities to give back and share our …
Boulay Welcomes New Tax Manager in Private Client Services
Boulay recently hired Gina Kane, CPA as a new Tax Manger in Private Client Services. She joins Boulay …
Navigating Estate and Trust Planning with ILITs
Life insurance provides reassurance to individuals concerned about securing their family legacy. However, if your estate is large …
How and When Beneficiaries are Taxed from a Trust or an Estate
When a trust or an estate produces taxable income such as interest, dividends, rental income, royalties, etc., beneficiaries …
Fourth Quarter 2023 Market & Economic Update
Hi Scott Nelson, Senior Wealth Manager with Boulay Financial Advisors with your mid-quarter market and economic update. We …
Security Spotlight: Physical Security Controls
A System and Organization Controls (SOC) 2 examination attests that your organization meets the criteria established by the American …
Boulay Welcomes New Estate and Trust Manager
Boulay recently hired Pamela Clements, CPA as a new Estate and Trust Manager. She joins Boulay with over 20 …
Making the Most of Open Enrollment: A Wealth Management Advisor’s View on Employee Benefits
As the annual open enrollment season approaches, it’s time to review, reconsider and rearrange your employee benefits with …
2024 IRS Cost-of-Living Adjustment Limits Released
The Internal Revenue Service has issued the 2024 annual limitations for qualified retirement plans and Social Security. The …
The 2024 Cost-of-Living Adjustment Numbers Have Been Released: How Do They Affect Your Year-End Tax Planning?
The IRS recently issued its 2024 cost-of-living adjustments for more than 60 tax provisions. With inflation moderating slightly …
Utilizing Nonqualified Deferred Compensation Plans to Boost Executive Benefits
Many employees consider qualified retirement plans, such as an employer 401(k) plan, a vital component of their financial …
In Case You Missed It: Boulay’s Gratitude Gathering
On Thursday, October 26, Boulay hosted our “Gratitude Gathering” to celebrate the firm’s upcoming 90th anniversary, as well …
Managing Repurchase Obligations in ESOP Companies
Employee Stock Ownership Plans (ESOPs) are a powerful tool for closely held companies to motivate and engage employees …
Boulay Welcomes New Tax Partner
Boulay recently hired Michael Laier, CPA as a new Tax Partner. He joins Boulay with over 12 years of …
Executive Compensation Strategies: Aligning Wealth and Career Goals
Executive compensation is a diverse landscape where financial prowess meets strategic negotiation and planning. For top-level executives, compensation …
Accounting for Current Expected Credit Losses (“CECL”)
Executive Summary: The FASB’s new accounting standard on the accounting for credit losses (ASU 2016-13 or “CECL”) is …
Inherited IRAs and Required Minimum Distributions (RMDs)
Prior to the Secure Act and Secure Act 2.0, beneficiaries of IRAs generally had the option to use …
Webinar: The Estate Portability Provision
Details Thursday, December 7, 2023 11:00 – 11:45 a.m. Central Time Join estate and trust partners Andrea Thermos …
Security Spotlight: Vendor Management
A System and Organization Controls (SOC) 2 examination attests that your organization meets the criteria established by the American …
Investing in the Future with Charitable Giving Through Trusts
Charitable giving has long been a cornerstone of philanthropy, allowing individuals to make a positive impact on causes …
Maximizing Retirement Savings for Highly Compensated Employees in 401(k) Plans
401(k) plans play a pivotal role in retirement planning for American workers, offering a valuable tactic to save …
Boulay Welcomes New Audit Manager
Boulay recently hired Mark Danelich, CPA as a new Audit Manager. He joins Boulay with over seven years of …
Webinar: U.S. Economic & Market Outlook
Details Thursday, November 9, 2023 10:00 – 11:00 a.m. Central Time Join Joe Bloodgood, Wealth Management Partner at …
Third Quarter 2023 Market Perspective
The Bureau of Labor Statistics (BLS) reported that 187,000 people found new jobs in August but the unemployment …
Boulay Welcomes New Assistant Controller
Boulay recently hired Kelsey Harris as a new Assistant Controller. She joins Boulay with over seven years of …
Mike Crabtree Named a MNCPA Volunteer Excellence Award Winner
Boulay is proud to announce that Mike Crabtree, J.D., CPA, Partner, was recently honored as a recipient of …
Security Spotlight: Business Continuity and Disaster Recovery Plans
A System and Organization Controls (SOC) 2 examination attests that your organization is compliant with the criteria laid …
Boulay Welcomes New Audit Manager
Boulay recently hired John Dahmen, CPA as a new Audit Manager. He joins Boulay with over nine years of …
Securing Financial Independence: How Multi-Family Offices Empower Their Clients
For individuals and families with substantial wealth, achieving and maintaining financial independence requires more than just wise investment …
Kris Braaten Named Director of Business Intelligence at Boulay
Boulay is proud to announce that Kris Braaten, CPA was recently promoted to Director of Business Intelligence. He …
Making Gifts that are Not Subject to Gift Tax
Gifting can often provide support for loved ones while reducing your taxable estate because transferring assets to others …
Guidelines for Target-Date Fund Glide Paths
For many people, planning for retirement may feel like navigating to a far-off destination with no map packed. …
ESOPs and S-Corporations: Strategies for Business Owners
In the ever-evolving landscape of corporate finance and taxation, savvy entrepreneurs and business leaders are seeking strategies to …
Security Spotlight: Incident Response Plans
A System and Organization Controls (SOC) 2 examination attests that your organization is compliant with the criteria laid …
Chad Carlson Named Chief Investment Officer at Boulay Financial Advisors, LLC
Boulay Financial Advisors, LLC (BFA) is proud to announce that Chad Carlson, CPA, was recently promoted to Chief …
The IRS Warns Businesses About ERTC Scams
The airwaves and internet are inundated these days with advertisements claiming that businesses are missing out on the …
Cathy Hogan Named Director of Operations and Compliance at Boulay Financial Advisors, LLC
Boulay Financial Advisors, LLC (BFA) is proud to announce that Cathy Hogan was recently promoted to Director of …
Sara Besser Named Chief Accounting Officer at Boulay
Boulay is proud to announce that Sara Besser, CPA was recently promoted to Chief Accounting Officer. She transitioned …
Boulay’s Gratitude Gathering
Please join us in celebrating Boulay’s 90th anniversary and Boulay Financial Advisors’ 25th anniversary with an open house at …
Third Quarter 2023 Market & Economic Update
Hi Scott Nelson, Senior Wealth Manager with Boulay Financial Advisors, with your mid-quarter market and economic update video. …
Security Spotlight: Securing the Software Development Process
A System and Organization Controls (SOC) 2 examination attests that your organization is compliant with the criteria laid …
What is the Role of a Retirement Plan Committee?
As a plan sponsor, you have a fiduciary responsibility to act in the best interest of your plan …
Recent Changes for College Savings Plans—What Families Should Know
Many families recognize higher education as an important investment which opens doors to future income and opportunities for …
Electronic Wills Act Goes into Effect Under Minnesota Law
As of August 1, 2023, the Electronic Wills Act went into effect under Minnesota law. Many requirements remain …
Security Spotlight: Intrusion Prevention and Detection Systems
A System and Organization Controls (SOC) 2 examination attests that your organization is compliant with the criteria laid …
Understanding ESOP Dividends: A Guide for ESOP Company Leaders
Employee Stock Ownership Plans (ESOPs) have gained popularity as a unique and effective way for employees to become …
Digital Assets and Your Estate Plan
Over the past few decades, technology has drastically changed the way we interact with people and transact business. …
Comparing Types of SBA Loans: 7(a) vs. 504
Small businesses are the backbone of the U.S. economy, creating jobs, fostering innovation, and supporting local communities. Yet, …
Security Spotlight: Vulnerability Scanning
The American Institute of Certified Public Accountants (AICPA) lays out criteria that are assessed when your organization undergoes …
Announcing our Newest Partners
https://youtu.be/HpP2pQLy1Qw Please join us in celebrating our six newest Partners! Watch to learn more about how each of …
Jennifer Anderson Named NACVA®, CTI® 30 Under Thirty Honoree
Boulay is proud to announce that Jennifer Anderson, CPA/ABV, Manager in Boulay’s Transaction Group, was recently named to …
Second Quarter 2023 Market Perspective
The U.S. economy continues to hold its own on the strength of consumers who are feeling confident as …
The Financial Advantages of Electric Vehicle Ownership
As the world embraces the need for sustainable transportation, electric vehicles (EVs) have emerged as a promising alternative …
Boulay Financial Advisors Named a 2023 Top Firm by AUM by Accounting Today
Boulay Financial Advisors, LLC (BFA) was recently named a Top Firm by Assets Under Management (AUM) for 2023 …
Voting Rights and ESOP Stock
Employee Stock Ownership Plans (ESOPs) offer a unique avenue for employees to have the financial benefit of ownership …
Security Spotlight: Encryption of Data At-Rest and In-Transit
A System and Organization Controls (SOC) 2 examination attests that your organization is compliant with the criteria laid …
Boulay Welcomes New Director of Client Service Strategy
Boulay recently hired Jim Chapa, CPA, MBA as the new Director of Client Service Strategy. He joins Boulay …
What is Community Property?
Community property essentially means that all assets and debt acquired during a marriage, even if acquired by one …
Julie Brown Named Director of Culture and Inclusion at Boulay
Boulay is proud to announce that Julie Brown, SHRM-CP, PHR was recently promoted to Director of Culture and …
Virtual Currency Lands in the IRS’s Crosshairs
While the value of virtual currency continues to fluctuate, the IRS’s interest in it has only increased. In …
Paul Diegnau Named Partner at Boulay
Paul Diegnau, CPA, CFA, was recently named a partner with Boulay. Paul joined Boulay in 2017. He is …
Clayton Brownlee Named Partner at Boulay
Clayton Brownlee, CPA, was recently named a partner with Boulay. Clay joined Boulay in 2016. After beginning his …
Megan Koski Named Partner at Boulay
Megan Koski, CPA, was recently named a partner with Boulay. Megan joined Boulay in 2017. She specializes in …
Security Spotlight: Safeguarding the AWS Root Account
A System and Organization Controls (SOC) 2 examination attests that your organization is compliant with the criteria laid …
Earn More on Cash: Exploring Institutional Money Market Funds, Brokered CDs, and MaxMyInterest
As a smart investor, you work hard, perhaps in close partnership with an experienced wealth management advisor, to …
Ellen Horan Named Partner at Boulay
Ellen Horan, CFP®, CPA, was recently named a partner with Boulay Financial Advisors, LLC. Ellen joined Boulay PLLP …
Second Quarter 2023 Market & Economic Update
Hi, Scott Nelson, Senior Wealth Manager of Boulay Financial Advisors, with our new mid-quarter update video covering the …
What’s in the Fiscal Responsibility Act?
President Biden has signed into law the new debt ceiling agreement that he reached with U.S. House of …
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