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UptoDate Bookkeeping

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United States
Blaine, MN
UptoDate Bookkeeping

25 years in the Twin Cities: Expert Bookkeeping, Payroll, Job Costing & more. We keep your books 'UptoDate' so you don’t have to! Contact us today!

If you have trouble keeping your books organized and up-to-date, you’re not alone. Running a business can be a balancing act with many moving parts. It is easy for things to slip through the cracks. This is where UptoDate Bookkeeping can help! At UptoDate Bookkeeping, we take care of your bookkeeping and payroll needs so that you can focus on what you do best – your business! We’re experienced in

all the latest bookkeeping and payroll tools, and are an Intuit® QuickBooks® Pro Advisor. While bookkeeping and payroll services are essential, they’re just part of your business. Therefore we keep our bookkeeping rates reasonable and cost-effective. Our price point is significantly lower than a tax preparer or CPA – and we offer the personalized services that they can’t! We have the skills you need to get your books in order, and keep them that way. Along with bookkeeping and payroll services, UptoDate Bookkeeping also provides additional services such as: Notary Services, Telephone Support, Design and Preparation of Specialized Excel Reports. Let us keep your business balanced.

05/15/2026

The Qualified Opportunity Zone (QOZ) program offers tax breaks on capital gains from eligible long-term investments in designated low-income and rural communities. The One Big Beautiful Bill Act made the QOZ program permanent and established a new 10-year designation cycle. The IRS has issued guidance on how to nominate population census tracts for designation as QOZs. The next round of QOZs will be effective from Jan. 1, 2027, to Dec. 31, 2036. Generally, state and territory governors can begin nominating eligible census tracts for QOZ designation on July 1, 2026. The nomination period lasts 90 days, with the option of a single 30-day extension. Contact us at (651) 466-0130 with any questions about QOZ tax breaks.

05/13/2026

Beginning in 2026, a new 0.5% “floor” applies to charitable deductions for taxpayers who itemize. This generally means that only qualified charitable contributions that, in aggregate, exceed 0.5% of your adjusted gross income will be deductible if you itemize deductions. But a charitable deduction for cash donations is now available to nonitemizers. We can help you develop a tax-smart charitable giving strategy for 2026. Contact us at (651) 466-0130.

05/12/2026

Now is the perfect time to tidy up your QuickBooks files. Unreconciled accounts, uncategorized transactions and outdated records can distort your cash flow and profitability. Even with QuickBooks’ automation tools and AI-enabled features, consistent review and oversight are essential. Don’t forget your chart of accounts! An outdated or cluttered chart can muddy your results, making it harder to understand your true performance. Clean books support better financial decisions and smoother tax filings. Call us at (651) 466-0130 to help get your bookkeeping in top shape.

05/11/2026

The stepped-up basis rules can reduce capital gains tax for family members who inherit your assets. Under these rules, when your loved one inherits an asset, its tax basis is “stepped up” to its fair market value at the time of your death. If the heir later sells the asset, he or she will owe capital gains tax only on any appreciation after your date of death, rather than on the entire gain since you acquired it. Investment accounts, business interests, real estate and personal property are among the assets affected by the stepped-up basis rules. Call us at (651) 466-0130 for details.

05/09/2026

Fringe benefits offer multiple business advantages. They can boost morale, attract and retain top talent, and qualify for potential tax breaks. That’s why it’s smart to review which ones you sponsor and what you may be missing. Of course, you don’t want to spend time and resources sponsoring benefits your employees don’t value. And you must follow specific rules and documentation requirements to be eligible for tax-advantaged treatment. Contact us at (651) 466-0130 for help choosing the right fringe benefits for your business and managing the tax impact.

05/08/2026

Artificial intelligence (AI) is changing how almost everything is done, including how fraud is committed. For example, a scammer might use AI to generate “deepfake” voices or “spoof” caller ID information to impersonate IRS agents. AI also makes it easier for perpetrators to establish robocall networks. (The IRS always stresses that it will contact taxpayers via U.S. mail about any tax issues. It won’t leave urgent voice messages or threaten arrest.) Fraud aside, the IRS warns against relying on AI-generated responses to complex tax questions. Be sure to verify AI answers by reviewing IRS instructions and crunching any numbers yourself. Better yet, call us at (651) 466-0130 for assistance.

05/06/2026

Your 2025 individual income tax return can provide a treasure trove of tax-planning ideas for 2026. We can dig into your 1040 and uncover potential strategies you can implement this year to reduce your 2026 taxes. We also can assist with filing extended 2025 returns. Call us at (651) 466-0130 to set up an appointment.

05/04/2026

When you’re busy running a business, it’s easy to overlook or dismiss the warning signs of financial distress. Rising employee turnover can signal internal strain. Cash flow issues may indicate slow collections or weak working capital practices. And sudden external shifts — such as interest rate volatility, cost increases or supply chain disruptions — can take a toll on otherwise healthy businesses. Supplementing your company’s year-end financial statements with interim reports or targeted agreed-upon procedures can help you spot problems early and take prompt corrective action. Contact us at (651) 466-0130 to learn more.

05/01/2026

A temporary federal income tax deduction for interest on qualifying auto loans for 2025 through 2028 was created by the One Big Beautiful Bill Act. The write-off, available even if you don’t itemize, is capped at $10,000 per tax return, subject to income-based phaseouts. It applies only to interest on first-lien loans to buy U.S.-assembled passenger vehicles for personal use. Leased, used and fleet vehicles are excluded. The IRS recently issued proposed regulations that clarify how the deduction works. For example, they address the “personal use” requirement. Contact us for details at (651) 466-0130.

04/29/2026

If you have unfiled tax returns, getting back on track may be easier than you think. But the longer you wait, the more costly it becomes. The IRS charges a failure-to-file penalty of 5% per month (up to 25%) of the unpaid tax. There’s also a separate failure-to-pay penalty of 0.5% per month (up to 25%) of the unpaid tax. If both apply in the same month, the combined penalty is generally 5% per month. Returns over 60 days late are subject to a minimum penalty. Filing, even if you can’t pay in full, can reduce penalties and open the door to payment plans or other relief options. Call us at (651) 466-0130 for help.

Address

9360 Baltimore St NE Unit 140
Blaine, MN
55025

Opening Hours

Monday	8am - 5pm
Tuesday	8am - 5pm
Wednesday	8am - 5pm
Thursday	8am - 5pm
Friday	7:30am - 4pm

Website

http://uptodatebookkeeping.com/

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