by Blair Butters | Jun 9, 2025 | Client Features, company culture
As Wisconsin has warmed into spring, and soon to become summer, tens of thousands of customers flock to a beloved local gem: Kopke’s Greenhouse. This family-run business has blossomed into one of the area’s largest and most community-focused garden centers. At the heart of it all is a deep commitment to people, plants and long-term vision. DMA Tax & Accounting is proud to work with Kopke’s Greenhouse, and we’re thrilled to share more about this small local business with you. DMA Tax & Accounting recently sat down with Josh Smith, Vice President of Kopke’s and second-generation leader, to talk about the story behind their blooming business, as well as the importance of having the right partners and support to sustain growth. From Farm Roots to Floral Fame Founded in 1981 by Gordy Kopke, the business began as a truck vegetable farm. With just a couple of greenhouses and a pickup truck, Gordy was growing, harvesting, and selling everything from squash and zucchini to peppers and cucumbers at farmers markets and to wholesale outlets across southern Wisconsin. “He started as a poor farm kid,” Josh shared. “My mom was one of his first employees, and even we kids were out there picking veggies rain or shine.” A pivotal moment came when Gordy’s mother suggested planting a few flowers to try something new. “They sold faster than anything,” Josh said. “Eventually, we phased out vegetables and went all in on flowers. By the late ’90s, we were a full-on greenhouse operation.” Today, Kopke’s Greenhouse grows over one million plants each season, including 11,000 to 15,000 hanging baskets...
by Blair Butters | Aug 5, 2024 | Tax Planning
Addendum: Beneficial Ownership Information (BOI) Reporting Update In light of a federal court order issued on December 29, 2024, reporting companies are currently not required to file Beneficial Ownership Information (BOI) reports with FinCEN and will not face liability for failing to do so while the order is in effect. However, companies may choose to voluntarily submit their BOI reports during this time. For more information, consult the Financial Crimes Enforcement Network (FinCEN) website or reach out to your tax professional. At the beginning of 2024, the U.S. Government started requiring U.S. companies and many small businesses to file Beneficial Ownership Information (BOI). In this blog post, we detail the following BOI information, so you know where you and your company stand: What is Beneficial Ownership Information (BOI)? Who needs to file? When are the filing deadlines? Recent Legal Changes How to file a BOI As always, contact your Accounting and/or Legal counsel for information specific to your company. What is Beneficial Ownership Information (BOI)? Beneficial Ownership Information refers to data that identifies the individuals who ultimately own or control a legal entity (think corporations, LLCs, and other similar entities). The purpose of collecting this information is to prevent and combat money laundering, terrorist financing, and other illegal activities that can be facilitated through anonymity in corporate structures. The Corporate Transparency Act (CTA), enacted as part of the broader Anti-Money Laundering Act of 2020, introduced new reporting requirements aimed at enhancing transparency and curbing illicit financial activities. A key component of the CTA is the Beneficial Ownership Information (BOI) filing requirement, which affects a significant number of small business entities in...
by Blair Butters | Feb 2, 2024 | Accounting, Bookkeeping
As a small business, one of the biggest challenges you face is maintaining the essence of who you are, and how you serve your community, while also staying competitive as an employer and keeping up on the endless stream of bookkeeping, accounting and tax related needs. Most small businesses on American land are in this middle squeeze spot where you have several employees and accounting and bookkeeping related needs, such as ensuring that those people get paid accurately and on time every week! But your needs don’t justify having a full-time in-house team member. So, what is a small business to do? This is where an outsourced or contracted accounting partner can be a great fit! Outsourced bookkeeping, also called on-site bookkeeping, is one of the fastest growing trends in the bookkeeping and accounting world. It gives you the flexibility to have someone on the inside of your operations and your bookwork, but without you having to take them on as a full-time team member when it’s not necessary! Here are 4 signs that it’s time for you to get the help of an on-site bookkeeper: You’re falling behind or making mistakes: If you find yourself getting overwhelmed with a too-long-to-do list or making mistakes in areas like managing profit and loss statements, expenses, and payroll, this is a sign it’s time to consider getting an on-site bookkeeper. Your staff is growing. Have you recently expanded your team and the number of employees supporting your business? This is a good indicator to bring in someone from the outside to support your team and business so that you can keep...
by Blair Butters | Oct 27, 2023 | Accounting, General Tax and Accounting Information, Tax Planning
Do you ever feel like life is passing you by before you even realize it? Somehow, we’ve already made it to the last quarter of the year. Fall colors are in full bloom, temperatures are beginning to change (albeit slowly for some of us!), friends and family are starting to think about the holidays, and most business owners we know… well, they are hustling to hit goals before year-end! We know you have many items to attend to and that adding another area to dive into could cause overwhelm. Don’t fret! We’re here to help you to make the most of these final months and prepare for the coming year with some tips and guidance to help you prep-ahead for tax time. How to Prepare for the Last Tax Quarter of the Year The last quarter of the year is an important time for any business owner, especially when it comes to taxes. It’s a good time to dot your ‘I-s’ and cross your ‘T-s’, by making sure you are maximizing deductions, minimizing your liabilities, and planning ahead for the next year. This is also where having an established relationship with your tax professional will serve you most. Rather than waiting until tax time, be proactive and create an end of year plan together. Review your income and expenses. The first step is to review your income and expenses for the year so far and estimate what they will be for the rest of the year. Pro Tip: gather your financial statements, review your profit and loss statements and balance sheets so you can gain a better understanding of...
by Blair Butters | Jul 24, 2023 | Auditing, Auditing, IRS, Tax Planning
Why Did the IRS Reject My Tax Return? The IRS may reject your tax return for many reasons, and while it can be a scary situation, it is often something that can be easily resolved. Today we will cover a few of the major reasons why your return may be rejected, how you will be notified, what you should do, and steps to prevent this situation from happening in the future. Why Your Return May Have Been Rejected If the IRS rejects your tax return, it is likely due to an error other than a simple math mistake. The IRS will typically correct math errors without rejecting a return. Outside of math errors, the IRS can reject your tax return for a number of reasons. Here are a few of the common ones: Inaccurate or Missing Information. Your name, date of birth, and/or Social Security number do not match what the IRS has on file. For example, if you changed your name after marriage, you need to update your name with the Social Security Administration for the IRS to know about your name change. Dependents Claimed on Multiple Returns. If you attempt to claim a dependent that has already been claimed on another return, yours will be rejected. For example, you and your ex-spouse both claimed the same child as a dependent on your returns. Your Return Was Already Accepted. Another return with your Social Security number and information was previously filed and accepted for that tax year. If this is the case, it could be a sign of fraud or identity theft. Incorrect PIN or Prior Year AGI....
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