Employee Benefit Plans

Categories

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).

Employee Benefit Plan Audit

January 26, 2023

An employee benefit plan audit is a periodic and independent examination of a company’s benefit plans that are subject to ERISA. If your company currently offers or plans to offer an employee benefit plan, read this article to learn about audit requirements.

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.

2023 Retirement Plan Limits

November 9, 2022

The IRS has released the 2023 retirement plan limits. Tax year 2023 will contain a significant increase in contribution limits for employees participating in a 401(k) plan.

Solo 401(k) Nest Egg

October 4, 2022

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.

HSA Amounts for 2023

May 9, 2022

The IRS recently announced the HSA amounts for 2023, which have been adjusted for inflation. High inflation rates will result in next year’s amounts being increased more than they have been in recent years.

Tax-Favored Retirement Plan

March 28, 2022

VIDEO: If your business doesn’t already have a retirement plan, now might be a good time to explore the benefits of a tax-favored retirement plan. Current retirement plan rules allow for significant tax-deductible contributions.

Required Minimum Distributions

December 29, 2021

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).

Establishing a Health Savings Account (HSA) for Your Employees

November 15, 2021

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.

Retirement Plan Savings Options for Small Businesses

April 12, 2021

If you want to set up a retirement plan for yourself and your employees, but want to avoid the financial commitment and administrative burdens involved in providing a traditional pension plan, you do have options.

Olsen Thielen Celebrates 100 Years

March 9, 2021

Nearly 100 years ago, Olsen Thielen was founded on the belief that personal attention, trust, and quality service were the key elements to helping our clients succeed, and that commitment remains. commitment to their clients and their community.

Magen Koepp Named to Top Women in Finance 2020

December 10, 2020

We are pleased to congratulate Olsen Thielen's principal, Magen Koepp, for being named a Top Women in Finance 2020 Honoree. Finance & Commerce has honored Minnesota’s Top Women in Finance each year since 2001.

Health Savings Accounts for Your Small Business

November 19, 2020

Employee health care benefit costs keep increasing. As a result, your small business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA).

Employer Sick Pay Plans and Third-Party Sick Pay

November 18, 2020

When employees are absent from work due to illness or injury for more than a few days but are expected to return to work, they may receive short-term or long-term disability payments from their employer’s sick pay plan.

Exit – Stage Left…Out the Door

August 18, 2020

As we all progress in life stages, the time will come for many to turn our eyes toward greener pastures. Recently, we had the good fortune to advise a long time client (20+ years), who was the founder of a multi-owner dental group, on the planning and execution of the