Articles by

Olsen Thielen

Year-End Tax Planning Strategies for Manufacturers

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.
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2025 Social Security Wage Base Increase

The 2025 Social Security wage base increase was recently announced by the Social Security Administration. The threshold will increase to $176,100, up from $168,600 in 2024.
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Tax Year 2025 Inflation Adjustments

The Internal Revenue Service announced the annual inflation adjustments for tax year 2025, that will impact taxpayers when they file their returns in 2026.
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Workers’ Comp and UI for Manufacturers

Many states require employers to maintain workers' comp and UI insurance. Managing these costs is crucial for manufacturers to preserve financial stability.
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Year-End Tax Planning for Small Businesses

We’ll be saying goodbye to 2024 in no time. Here are some year-end tax planning ideas that may help your small business save on taxes.
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2024 Q4 Tax Deadlines

Here are some of the key 2024 Q4 tax 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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Handling NonProfit Pledges

Your nonprofit may prefer donations (or immediate support) to pledges, which are usually promises to donate in the future. But if you do receive pledges, make sure to account for them properly.
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Benefit of an LLC

Choosing the right business entity is a key decision for any business. The entity you pick can affect your tax bill, your personal liability and other issues. For many businesses, the benefit of an LLC is an attractive choice.
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Tax Rules of Selling Business Property

There are complex tax implications that may apply when selling business property used in your trade or business. Rules apply to gains and losses and the amount of time you have had the business property.
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Manufacturing Start-Up Costs

Starting a manufacturing company isn’t cheap, and start-up costs can be substantial to acquire a facility, equipment and materials. Luckily, some start-up costs may be deductible for income tax purposes.
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New Olsen Thielen Principals Elected

Olsen Thielen has elected four new principals to our firm leadership including: Rob Mathewson, Tony Oman, Charlie Sparks, and Carrie Sundberg.
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Greg Nelson to Retire August 31, 2024

Tax Principal, Greg Nelson will be retiring from Olsen Thielen, effective August 31, 2024.
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Cash or Accrual Accounting?

Many businesses have a choice between using the cash or accrual method of accounting for tax purposes. You choice can affect the taxes you pay, so you need to carefully evaluate the differences.
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NFP Boards Should Evolve

Much like the nonprofits they support, NFP boards should evolve over time. Learn what nonprofit boards typically look like at different stages of an organization’s life.
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Corporate Estimated Tax

You want your business to pay the minimum estimated tax amount without triggering a penalty for underpayment. Keep in mind that the next payment deadline is September 16, 2024.
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