Articles by

Olsen Thielen

SEP and SIMPLE Retirement Plans

May 8, 2023

SEP and SIMPLE retirement plans are two options for small business owners consider because they have fewer administrative requirements than a traditional plan. Let’s take a look at a “simplified employee pension” (SEP) or a “savings incentive match plan for employees” (SIMPLE).

Home Office Expenses

March 3, 2023

If you’re self-employed and run your business from home or perform certain functions there, you might be able to claim deductions for home office expenses against your business income.

Heavy SUV Tax Break

March 2, 2023

If you’re buying or replacing a vehicle that you’ll use in your business, be aware that a heavy SUV may provide a more generous tax break this year than you’d get from a smaller vehicle. The reason has to do with how smaller business cars are depreciated for tax purposes.

Manufacturing Cyberattacks

March 1, 2023

Manufacturing cyberattacks are becoming more common and the attacks are designed to disrupt operations and extort money. Here are some ideas to get ahead of the cybercriminals.

M&A Tax Implications

February 20, 2023

If you’re considering buying or selling a business, it’s important to understand the M&A tax implications before moving ahead. After the transaction is complete, it may be too late to get the best tax results.

Tax Savings for Manufacturers

February 17, 2023

Do you know what are the top tax-saving opportunities for manufacturers in 2023? Once your manufacturing company’s 2022 tax return has been filed, you can focus your efforts on reducing its 2023 tax liability.

Reason to Renew

February 17, 2023

When inflation is high, you may need to give your members a reason to renew because it’s common for people to cut expenses by deciding not to renew subscriptions and memberships.

Value of Tangible Donations

February 15, 2023

Is the value of tangible donations simply the price a not-for-profit would charge if it sold the goods in a rummage sale or on an auction website?

Endowment Investments

February 13, 2023

Endowment investments come with major responsibility and generally need to be managed by a financial expert. And, nonprofit organizations must adhere to certain regulations.

Business Tax Limit Increases

February 1, 2023

Business tax limit increases for 2023 have risen more than usual due to inflation. An array of tax-related limits that affect businesses are indexed annually and here are some that may be important to you and your business.

Employer-Provided Child Care

January 31, 2023

Now may be the time for your manufacturing company to consider offering employer-provided child care. The Section 45F tax credit can help offset some of the costs.

Improving Cash Flow

January 27, 2023

If you’re seeking opportunities for improving cash flow in your manufacturing company, consider a fixed asset or cost segregation study. Manufacturing is a capital-intensive industry, so it’s critical to ensure that fixed assets are classified properly to recover their costs as quickly as possible.

Learn to Love Delegation

January 13, 2023

To best serve your nonprofit and its constituents, you must practice the art of delegation and even perfectionists can learn to love delegation.

Deducting Software Costs

January 9, 2023

The tax treatment and deducting of software costs can be more complicated than you might think, and the rules depend on whether the software is purchased, leased or developed by your business.

2023 HSA Limits

January 5, 2023

HSAs have complex rules, but offer a flexible option for providing health care coverage and they may be an attractive benefit for your business.