The Details on Frontline Worker Pay

June 9, 2022  |  Barton Walter and Krier

The Minnesota Legislature recently passed a bill that offers extra pay to those whose work was essential during the COVID-19 emergency period. Who qualifies for this “hero pay”? Keep reading to get the details on Frontline Worker Pay and find out what to know about the new law – as an employer or an employee. What is Frontline Worker Pay? On April 29, 2022, Governor Tim Walz signed into law a program that provides payment to COVID-19 frontline workers. The Frontline Worker Pay law is a way to thank those who continued to work during the pandemic because the requirements of their jobs necessitated an in-person presence. Eligible workers can apply for their share of a state-funded $500 million bonus pool. Information continues to evolve as the program develops. Instructions can be found on the State of Minnesota government portal as details progress. Qualifying and Applying The application process is expected to open in early-to-mid June. Once the system is set to accept applicants, eligible employees have 45 days to apply for Frontline Worker Pay. Applicants must meet certain requirements to qualify, including: Employed a minimum of 120 hours between March 15, 2020, and June 30, 2021, in Minnesota in at least one frontline sector During that time, was unable to telecommute due […]

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What CPAs Do in the Tax Off-Season

June 1, 2022  |  Barton Walter and Krier

The narrow, early year window for filing taxes is likely when you rely most on your tax professional. But these numbers virtuosos keep busy with a host of duties after filing deadlines, too. Ever wonder what CPAs do in the tax off-season? Keep reading to find out how they keep the gears turning and client financials in order throughout the year. Countless Capabilities Beyond Taxes Certified public accountants do more than crunch numbers on your Form 1040. They are dependable advisors that provide a litany of services to help clients reach their individual or business financial goals. CPA Steve Hagstrom of Barton, Walter & Krier shared insight into some of the lesser-known responsibilities tax professionals handle when they’re not calculating and filing a client tax returns. “We’re a 40-member firm,” Hagstrom pointed out. “We’re smaller, so we wear a lot of hats.” Mergers & Acquisitions. Hagstrom is a consultant in the M&A department at BWK, so providing those services to clients is one of his specialties. “I consult on mostly transactional situations,” he said, “people buying or selling a business.” In these situations, CPAs help clients better understand financial opportunities, compliance, and big picture goals when transferring or consolidating a business. “M&A is a niche we have that other small firms don’t,” Hagstrom […]

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