New Law Alert: Paid Family and Medical Leave (2026)
This past May, Governor Tim Walz signed a new bill that would entitle Minnesota’s workers to paid time off starting January 1, 2026, making Minnesota the 12th state in the nation to require
2023 Tax Changes to Look Out For
Adjustments to federal tax brackets, deductions, credits, and more are not new—they happen every year. This year’s changes are small and are largely related to inflation, but regardless it’s important to be informed
Preparing for Tax Season 2022: What Your CPA Needs From You and What To Expect
This blog was originally published on January 25th, 2022 but has been updated on January 18th, 2023. Tax season is upon us, which means it’s time to start preparations for your 2022 tax
Wood CPA Celebrates 3 Years!
This month, Wood CPA is celebrating a big milestone: three years in business! Three years might not seem like much, but for a small business, those first three years can be the difference
How Can I Lower My Tax Bill: 10 Tips For Small Businesses
As a small business owner, you might not be aware of all the deductions, credits, and other business income strategies that can help you lower your tax bill. That’s why we put together
6 Professionals Every Small Business Should Work With To Thrive
Running a successful business requires taking on a multitude of responsibilities. But with all your other high-level tasks you have to handle as a business owner, you can’t be expected to do it
The Importance of Professional Bookkeeping for Small Businesses
For small businesses, bookkeeping is an essential part of the tax planning process. Bookkeeping involves keeping track of your company’s financial transactions on a regular basis. With an organized log of all business
Need a CPA? You Probably Also Need Business Advisory Services
Many people who seek out CPAs simply want their tax return filed. But there are plenty of online tax preparation services that can help you file your taxes. You don’t necessarily need to
Tax Planning 101: Tips for Individuals and Businesses To Maximize Tax Breaks
There’s no escaping it: everyone has to deal with taxes. At best, it’s a mildly stressful experience. At worst, it can be overwhelming. But what if we told you it doesn’t have to
What Does Your CPA Do When it’s NOT Tax Season?
For many folks, the only time they see their certified public accountant is during the weeks leading up to April 15th–also known as Tax Day. But what exactly do they get up to