Category: BWK News
Welcome Jay Trumbower to BWK
December 9, 2022 | admin
Barton, Walter & Krier is constantly growing, bringing aboard fresh talent to grow the team and expand its knowledge base to benefit clients. We recently filled a significant position with a notable industry figure and are excited about the ideas he brings to the table. Please help us welcome Jay Trumbower to BWK as Chief Executive Officer. Keep reading to find out more about our new CEO as he joins this Maple Grove CPA firm. Role Has Trumbower Focused on the Future Since joining BWK in September, Trumbower has been and will continue to oversee and manage the company’s full enterprise. Additionally, he will work closely with shareholders on the development of a strategic plan to determine a prospective course for the firm. Together, Trumbower and his Board of Directors will focus on improvements and advancements to benefit BWK on every level. “Growth that provides more opportunities for clients and our team members will be a key component of our future plans,” he said. Extensive Experience, Education, and Certification Prior to joining BWK, Trumbower worked in a Big 4 accounting firm and spent 10 years in corporate development leadership roles across a variety of industries, including architecture, engineering, construction, real estate, financial services, information technology, and more. He was CFO of a $4.5 […]
Read MoreTax Bill Provides Relief for Minnesota Businesses and Residents
July 22, 2021 | Barton Walter and Krier
Earlier this month, the Minnesota Legislature passed a tax bill to finish the proposed $52 billion budget and avert a partial state government shutdown. Both legislative chambers passed the bill in a special session that was necessary after lawmakers reached an impasse and failed to complete the job before the end of the fiscal year in June. The bipartisan omnibus bill was approved and signed into law by Governor Tim Walz on July 1, 2021. Read on as we take a closer look at the new tax bill and how it provides much needed relief for Minnesota businesses and residents. Conformity to federal tax law The bill includes conforming to selected federal tax changes enacted by Congress since December 31, 2018. In addition, it solidifies a proposal that endorses an initial agreement between the governor and the legislature regarding COVID-relief for Minnesota businesses and individuals. Under the new law, businesses that received funds as part of the Paycheck Protection Program (PPP) will now be allowed to fully deduct the amount on their state income taxes. Moreover, workers who collect payments from unemployment insurance (UI) will be able to deduct them up to $10,200. Other highlights from the bill While the bill focuses primarily on COVID relief and K-12 education, it also includes changes […]
Read MoreWhat You Need to Know
January 21, 2021 | Barton Walter and Krier
Small business still reeling from the effects of the pandemic received some welcomed news in the form of additional funding for the Paycheck Protection Program (PPP). The Second Draw loan program provides an additional $284 billion for small businesses and makes loan forgiveness easier if the bulk of the funds are used for payroll and other expenses related to COVID-19. Read on as we discuss what you need to know about PPP 2.0. What is PPP? PPP is a forgivable loan program established by the CARES Act, which provides economic relief to individuals, workers, and small businesses affected by the COVID-19 crisis. PPP loans help businesses keep workers employed during the pandemic. The first round of PPP loans started in April 2020 but ran out in a matter of weeks as panicked businesses flooded the U.S. Small Business Administration (SBA) with applications. According to the terms of the loan established by the U.S. Treasury, payments can be deferred for borrowers who apply for loan forgiveness. If a borrower does not apply for loan forgiveness, payments are deferred 10 months after the end of the covered period. Starting on January 13, 2021 through March 31, 2021, eligible businesses may apply for the Second Draw PPP loan. Who qualifies for PPP 2.0? Generally, the same […]
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