Mahoney - CPAs and Advisors

09/22/2026

S'more around the campfire, cannonballs in the pool - vacation homes can be used for many things. Owners may even be able to claim charitable-giving tax breaks to their properties. But the rules are tricky, and the circumstances must be just right. We explore some of the pertinent details.

Owning a vacation home can provide a fun, relaxing getaway for you and perhaps family and friends. It may also provide certain tax benefits, such as d

09/17/2026

Many parents and students focus only on the sticker price of higher education. But other elements come into play. This article looks at how financial aid - including loans, grants, and scholarships - can lower the actual cost. A sidebar explores the American Opportunity Tax Credit and Lifetime Learning Credit, which can help defray college costs.

If you're the parent of a college-aged child, you already know how pricey higher education has become. According to EducationData.org's Education Data

09/16/2026

If you're waiting until tax season to think about reducing your 2026 tax bill, you could be missing valuable planning opportunities available right now.

Midyear tax planning gives business owners and individuals time to:
✅ Review projected income and tax liability
✅ Maximize deductions and available credits
✅ Evaluate retirement contribution strategies
✅ Manage cash flow and estimated tax payments
✅ Make informed business and investment before year-end

Proactive planning today can make a significant difference when it's time to file.

Read our latest insights:

Review your income, deductions, and investments with these midyear tax planning strategies to help reduce your 2026 tax bill.

09/08/2026

Student-athletes in college can now earn substantial taxable income from the use of their "name, image, and likeness" (NIL). Such payments largely come from "boosters," individuals who make NIL contributions either directly or through third-party organizations commonly called "collectives". We explore key tax considerations for both parties.

Financially speaking, college athletics are a whole new ballgame these days. Student-athletes can now be paid for the use of their name, image and lik

09/03/2026

Lunch took a whole new meaning when Trent Senske and Tom Johnson stepped into the role of sushi chefs for an in-office wedding shower celebration.

From carefully rolling ingredients to serving up a variety of delicious sushi creations, Trent and Tom helped turn an ordinary lunch break into a fun and memorable event.

A big thank you to Trent and Tom, and many others that went above and beyond to create such an amazing event!

09/01/2026

Another year, another successful tournament in the books! ⛳

The MUCR Cup remains one of our favorite Mahoney traditions, bringing together team members from every stage of their careers, from current and incoming interns all the way to retired Partners. Now, in its 32nd year, the event once again delivered great competition, great company, and a beautiful day on the course. Somehow, the weather always seems to cooperate when it's time for the MUCR Cup!

After several years of Sam Broman and whichever team he was on claiming the title, a new group of champions has emerged. Congratulations to Nathan Plack, Will Leach, Jake Dalnes, and Sage Hoekstra on this year's victory!

A special thank you to Lost Spur Golf and Event Center for hosting another fantastic event, and to everyone who participated and volunteered. It was the perfect way to celebrate the end of summer and enjoy time as a team.

08/27/2026

We're proud to see our very own, Elizabeth Barchenger, CPA, featured in the August/September edition of Minnesota Society of CPAs Footnote magazine. In her article, "Trust but Verify: Using AI Responsibly in a CPA Firm," Elizabeth explores how accounting professionals can leverage AI while maintaining skepticism, judgement, and oversight that quality work demands.

As AI becomes increasingly integrated into audit and accounting processes, Elizabeth reminds us that technology is a powerful tool, but professional judgement remains irreplaceable.

Read the article here:

Discover best practices for ensuring effective and accurate AI use in audit.

08/25/2026

Are you using Bill.com with QuickBooks Advanced and struggling with how to properly void payments? Amy Siegel, RAP, breaks down the process and highlights key considerations to help keep your accounting records accurate and your workflow running smoothly.

Read the blog: https://mahoneycpa.com/voiding-payments-in-quickbooks-online-advanced-when-using-bill-com/

Learn how to handle voided Bill.com payments in QuickBooks Online Advanced and avoid bank reconciliation issues caused by payment synchronization.

08/24/2026

Attention all accounting students!

Join us on October 21 from 3:00-5:00pm for our annual Open House at the Mahoney office!

This is a great opportunity to:

• Connect with professionals in the accounting industry

• Learn about careers in public accounting

• Gain insight into the day-to-day work of accountants

• Experience a professional public accounting environment firsthand

• Enjoy free food and refreshments

We look forward to meeting you and answering your questions about the profession.

Register using the link below or contact Karl Jackson at [email protected] for more information.

https://forms.cloud.microsoft/r/We1kLwYyXy

08/20/2026

Nonprofits aren't immune to the thread of fraud from their own employees. In fact, a culture of trust and lax internal controls can make your nonprofit more vulnerable to fraud than many for-profit companies. Here's a list of right best practices to help you prevent and detect occupational fraud in your organization.

Every year, millions of dollars are donated to not-for-profit organizations. But in some cases, the money intended for an organization's charitable ca