Articles by

Olsen Thielen

Reporting Employee Health Coverage

Certain employers have the requirement of reporting employee health coverage. Do you know if your business has to comply, and if so, what must be done?
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State of Manufacturing 2022 Survey Released

The 2022 State of Manufacturing results are in! Minnesota manufacturers are now preparing for yet another marketplace headwind.
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Employees or Independent Contractors

As an employer, it is important to classify your workers as either employees or independent contractors correctly. Incorrectly classifying workers can have serious legal and financial consequences.
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Code of Ethics

A Code of Ethics is more than limiting potential fraud losses. It also provides nonprofit organizations with an opportunity to document and disseminate its core values.
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Solo 401(k) Nest Egg

Do you own a successful small business with no employees and want to set up a retirement plan? Or do you want to upgrade from a SIMPLE IRA or Simplified Employee Pension (SEP) plan? Consider a solo 401(k) to build a solo 401(k) nest egg for your retirement.
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2022 Q4 Tax Calendar

Here is the 2022 Q4 tax calendar with some key tax-related deadlines affecting businesses and other employers. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you.
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Nonprofit Revenue Detective

Be a nonprofit revenue detective. You don’t have to wait for the next scheduled audit to assess your nonprofit’s financial health. Follow the lead of your professional auditors and focus on analyzing your revenue.
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Deducting Website Costs

These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on deducting website costs. Fortunately, established rules that generally apply to the deductibility of business costs provide business taxpayers launching a website with some guidance as to the proper treatment of the costs.
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Is a Donation Worth Bad Publicity?

No not-for-profit wants to turn down donations — particularly if they’re large. But, you need to decide is a donation worth bad publicity? Bad publicity, particularly if it hits social media and goes viral, can be far more expensive for your organization in the long run.
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Multi-State Taxation

Manufacturers operating in more than one state may be subject to multi-state taxation. But with proper planning, you can potentially lower your company’s state tax liability.
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Going Out of Business Tax Obligations

Many businesses shut down due to the pandemic and the economy. However, going out of business tax obligations need to be met. First, a business must file a final income tax return and other related forms for the year it closes its doors.
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Getting the Grant

There are thousands of grants and millions of dollars available to nonprofits from the federal government, states, foundations and other sources. Getting the grant you need generally requires you to submit a thorough, professional, and compelling grant proposal.
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Hire Target Workers and Claim WOTC

If your manufacturing company is like many others in the industry, you’re having difficulty finding top-notch new hires to expand your workforce and replace employees who are retiring or quitting. At the same time, you’d like to reduce your tax liability.
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Small-Sized Manufacturers’ Tax Advantages

Small-sized manufacturers’ may enjoy several tax advantages that allow them to reduce their tax bills, defer taxes and simplify the reporting process. For example, federal tax rules generally defined a “small business” as one with average annual gross receipts of $5 million or less for the three preceding tax years.
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Nonprofit Fraud Controls

The 2022 Report to the Nations from the Association of Certified Fraud Examiners reports that not-for-profits are the least likely type of organization to experience occupational fraud. And nonprofit fraud controls can be inexpensive to put into place. For example, a code of conduct, mandatory vacations, fraud training for employees,
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