Olsen Thielen Advisor Blog

Categories

Flights: Fraud with Andrea Addo and Adam Hennen

Our Q&A Over Coffee Flights series are short episodes that break down complex topics into easy-to-digest segments that can be listened to individually, all together, or in any order. This Flight series explores Fraud with Olsen Thielen’s Certified Fraud Examiners Andrea Addo and Adam Hennen.
More Info »

Product Profitability for Manufacturers

For manufacturers, knowing product profitability for individual items is essential for strategic decision-making and long-term success. While total revenue can provide a sense of overall product performance, profitability analysis can deliver a clearer picture of which products contribute the most (and the least) to your bottom line.
More Info »

Corporate Transparency Act (CTA) Reporting Suspended

The Treasury Department has suspended the CTA filing requirement for U.S. businesses, signaling a major shift in compliance obligations. While the rule may still face legal challenges, domestic companies are no longer required to report beneficial ownership information—at least for now.
More Info »

Manufacturers: Avoid Overpaying State Sales Taxes

Manufacturers often can benefit from state sales tax exemptions. However, available exemptions sometimes vary significantly by state, so manufacturers need to stay on top of available exemptions to avoid overpaying state sales taxes.
More Info »

Home Office Tax Deductions

As a business owner, you may be eligible to claim home office tax deductions that will reduce your taxable income. However, it’s crucial to understand the IRS rules to ensure compliance and avoid potential IRS audit risks.
More Info »

Tipped Employees and Tax Compliance

You may have heard about proposals to end taxes on tips. If you’re a business with tipped employees, you are required to adhere to a number of regulations and laws.
More Info »

Minnesota’s New Paid Leave Program

Minnesota's new Paid Leave Program goes into effect on January 1, 2026. Employers should be aware of the new program - who is eligible, information on funding and benefit structure of the program, and their responsibilities including the initial reporting deadline coming up on October 31, 2024.
More Info »

The Sunset of Current Tax Laws with Scott Hoyles and Joe Mayer

Podcast: Join us on this episode of Q&A Over Coffee as we sit down with Tax Principals Scott Hoyles and Joe Mayer to talk about a pressing topic for 2025 – the upcoming sunset of the Tax Cuts and Jobs Act (TCJA).
More Info »

401(k) Plan Sponsor – Fiduciary Responsibility

Offering a 401(k) plan to your employees is not just a perk—it's a significant fiduciary responsibility under ERISA that requires oversight and compliance to shield both the plan and its participants. You need to follow best practices for mitigating liability while securing your team's financial future.
More Info »

Increased Business Tax Limits for 2025

For 2025, inflation-adjusted changes were made to certain business tax limits. Here’s how much employees can contribute to their 401(k)s and FSAs this year, as well as other important business tax amounts.
More Info »

Casino Nights Aren’t All Fun and Games for Nonprofits

Gaming fundraisers are popular with nonprofits and their supporters. But before you plan your event, make sure you know the IRS rules regarding reporting gambling activities and paying any tax due.
More Info »

Cost Allocation for Nonprofits

Nonprofits often struggle with properly handling the cost allocation of program expenses. Yet the process is critical because your supporters want to know how you use financial resources.
More Info »

Managing Payroll Taxes

Navigating the complexities of payroll taxes is a daunting task for small business owners. Learn how you can streamline your payroll processes by developing strategies to ensure compliance, avoid penalties and maintain employee trust so you can continue to focus on growing your enterprise.
More Info »

W-2 and 1099-NEC Deadlines

The deadline is almost here for businesses to submit certain information returns to the government and furnish them to workers. By Jan. 31, 2025, employers must file Forms W-2 that show the wages paid and taxes withheld for 2024 for each employee.
More Info »

Online Shopping Safety Tips

Cybercriminals are constantly trying to trick online shoppers to access personal information. Following some easy but essential tips may help safeguard your next online shopping trip.
More Info »
We Value Your Privacy

This site may use cookies to store information on your computer. Some are essential to make our site work and others to improve the user experience. By using this site, you consent to the placement of these cookies and accept our privacy policy.