Olsen Thielen Advisor Blog

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Understanding the National Debt

November 25, 2024

The United States is grappling with an escalating national debt that now exceeds $35 trillion, a staggering burden with far-reaching economic implications. Explore the causes, current state, and potential solutions to this pressing issue, and understand what it means for our future. Read on to discover how it affects us

FTC Rule on Fake Reviews

November 25, 2024

The Federal Trade Commission has implemented new rules to crack down on fake reviews, aiming to restore consumer trust and promote fairness in the online marketplace. These regulations target deceptive practices like fabricated reviews, bought endorsements, and undisclosed conflicts of interest.

Smart Year-End Tax Moves for Businesses

November 21, 2024

Year-end tax moves can help small business owners face crucial tax planning decisions that can impact their financial health. This article offers strategic insights to optimize your tax position before ringing in the new year.

Year-End Tax Strategies for Individuals

November 21, 2024

As December 31 approaches, it's time to look at year-end tax strategies for individuals. You need to assess current tax situation, understand deductions, maximize retirement contributions and manage investment gains.

IRS Releases Inflation Adjustments for 2025

November 20, 2024

The IRS has announced significant inflation adjustments for the 2025 tax year, impacting standard deductions, income tax brackets, and various tax credits. Discover how the updates could affect your tax strategy and financial future.

Olsen Thielen Honored to Receive the 2024 VHEDC Keith Warner Standard of Excellence Award

November 15, 2024

Olsen Thielen is a long time supporter of the VHEDC, it’s members, and it’s mission, and we are grateful to be recognized as this year’s award recipient. Our continuous engagement in the community we live and work in through our involvement in associations, committees, and volunteer groups is so vital

Understanding Taxes on Real Estate Gains

November 6, 2024

If you’re the owner of a pass-through entity, the federal income tax rules for gains from the sale of business real estate or vacant land may be more complicated than you thought.

Does Your Business Need to Report Employee Health Coverage

November 1, 2024

One crucial aspect of offering employee health coverage is understanding the reporting requirements of federal agencies such as the IRS. Does your business have to comply, and if so, what must you do?

2025 401(k) Limit Increases

November 1, 2024

The IRS announced the 2025 401(k) limit increases and issued technical guidance on cost of living adjustments. Read more the see how these increases could affect you.

MN Renter Property Tax Refund Changes

November 1, 2024

New MN renter property tax refund changes affect both renters and property owners/managers/landlords, and involve changes to submission of Certificate of Rent Paid and how renters receive payment of the credit.

What is Your Manufacturing Company’s Worth?

October 30, 2024

A business valuation professional can provide an objective estimate of your manufacturing company’s worth. This can be beneficial not only if you’re selling your business but also if you’re seeking financing, drafting a buy-sell agreement or estate planning.

Is an IRS Audit in Your Future?

October 29, 2024

Many IRS audits are routine. However, taking a meticulous, proactive approach to tracking, documenting and filing your company’s tax-related information will make an audit more manageable if your business is selected.

The 2024-2025 Tax Planning Guide

October 28, 2024

Do your tax planning strategies need a refresh? Our 2024-2025 Tax Planning Guide can help explain the best tax planning strategies for you. Tax planning strategies must evolve as your situation changes, whether due to life events, economic developments, or new tax laws. To save the most on your 2024

Year-End Tax Planning Strategies for Manufacturers

October 24, 2024

As the year draws to a close, it’s generally manufacturers’ last chance to implement year-end tax planning strategies to reduce their 2024 tax liability. Making time right now could prove to be very beneficial in the upcoming tax season.

Check Your Tax Withholding

October 23, 2024

Year-end is fast approaching, and for high-income earners and gig workers, it's the perfect time to review your tax withholding. This article will explain why this check is crucial and how it could potentially help you avoid a hefty tax bill.