Articles by

Olsen Thielen

Entrepreneurs and Taxes

If you have started or are contemplating starting a new business, as a new business owner you need to be aware of the implications that affect entrepreneurs and taxes.
More Info »

How Many NFP Directors are Needed

When a nonprofit is new, it may struggle to find an adequate number of board members. But as it grows, its board is also likely to grow — sometimes, to an unwieldy size. The important question is: How many nonprofit directors are needed for your organization to effectively pursue its mission?
More Info »

Nonprofit Restricted Gifts

Occasionally, a nonprofit will receive restricted gifts. With an unrestricted gift, organizations have the flexibility to use the money where it’s needed most. However, gifts with restrictions require a higher level of responsibility.
More Info »

Employer Tip Tax Credit

If you are an employer with employees who receive tips, it is possible that you may qualify for an employer tip tax credit for a portion of the tips. Sound too good to be true?
More Info »

Nonprofit Financial Resilience

Despite COVID-19 and other roadblocks, your nonprofit needs financial resilience for the upcoming year and beyond. Forecasting can be difficult, but your staff and the board’s finance committee have ways to deal with obstacles. Here are three suggestions:
More Info »

Like-Kind Exchange Could Defer Tax

With real estate prices up in some markets, the Section 1031 “like-kind” exchange strategy may be attractive if you want to sell highly appreciated commercial or investment real estate.
More Info »

2022 First-Quarter Tax Deadlines

Businesses face several 2022 first-quarter tax deadlines. This list is not all-inclusive, and additional deadlines may apply to you. Also, remember that this list isn’t all-inclusive, so there may be other deadlines that apply to you.
More Info »

Required Minimum Distributions

Required Minimum Distributions (RMDs) are minimum amounts that you must withdraw from your IRA or retirement plan account each year after you reach age 72 (70 ½ if you reach 70 ½ before Jan. 1, 2020).
More Info »

Nonprofits May Want to Try a New Budgeting Approach

Some nonprofits have discovered that budgeting, like many other things, sometimes is more effective when you try a new approach.  For example, you may want to look at adopting a rolling budget — or by reforecasting an existing budget.
More Info »

Corporate Aircraft Tax Implications

You may have considered purchasing a corporate aircraft if you do a lot of business travel.  But of course, you need to be aware of the tax implications before you spend the money.
More Info »

Kelly M. Salwei, CPA, CMA, to Retire August 31

Kelly joined Olsen Thielen in 1985, after six years with a CPA firm in northern Minnesota. We thank Kelly for his leadership in our Eden Prairie office and offer him our best wishes as he transitions to his new role as a retiree.
More Info »

Gifts to Employees and Customers May Provide a Tax Break

The holiday season will soon be here and after a year of avoiding social gatherings, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties.
More Info »

Your NonProfit Board Needs Certain Information

Your nonprofit’s board members need accurate financial and strategic information to make the best decisions for your organization.
More Info »

Establishing a Health Savings Account (HSA) for Your Employees

Establishing an employer-sponsored Health Savings Account (HSA) for your employees is a way to provide some tax-advantaged health care benefits. For eligible individuals, an HSA offers a tax-advantaged way to set aside funds (or have their employers do so) to meet future medical needs.
More Info »

State of Manufacturing® 2021 Survey Released

Despite unprecedented uncertainties that continue to roil the COVID-era business economy, the 2021 edition of the State of Manufacturing® survey has revealed that Minnesota’s manufacturers are far more optimistic about their companies’ prospects than they were after they experienced the first wave of the pandemic.
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.