- February 5, 2021
If your nonprofit has lost financial support during the pandemic, you may be looking for new ways to generate revenue. However, you need to be very careful if the proposed solution is a side business.
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- January 27, 2021
It’s been almost a year since many not-for-profit organizations sent staffers home — to work remotely. For many nonprofits and employees, remote work has been a positive experience.
- January 14, 2021
Did you know that your business may be eligible for a federal tax credit simply by hiring certain qualified employees?
- December 17, 2020
If the events of 2020 have taught not-for-profits anything, it’s that financial reserves are essential to long-term survival. An endowment is different from operating reserves and generally is designed to provide a steady income to a nonprofit while its core investments grow untouched.
- December 14, 2020
After a long and remarkable career, Linda Nelson has decided that effective December 31, 2020, she will be retiring from Olsen Thielen. We want to thank Linda for her knowledge, dedication, and everything she did for clients and colleagues.
- 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.
- December 10, 2020
Charitable giving is typically more common during the holidays. Holiday-inspired generosity and the desire to reduce tax liability makes the end of the year a busy time for charitable giving.
- December 1, 2020
S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will incur losses in its early years because shareholders in a C corporation generally get no tax benefit from such losses.
- November 20, 2020
Delegation ideally gives not-for-profit executives time to focus on mission-critical tasks and provides growth opportunities to staffers. However, you need to approach delegation strategically.
- 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).
Financial statement footnotes provide donors, governmental supporters, and other stakeholders with critical information about your not-for-profit. It’s important to work with your CPA to make sure your footnotes are accurate and thorough.
- November 18, 2020
The federal gift and estate tax exemption was enacted in 1916, and right now, it is at the highest it has ever been. This means that you can pass more to your heirs today, without paying any federal gift or estate tax, than ever in the past century.
- 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.
- October 21, 2020
Nonprofit organizations have encountered many challenges in 2020, and the concerns expressed by their leaders are justified. Their concerns include strained budgets, the ability to deliver on the organization’s promises during a pandemic, and more.
- October 13, 2020
Are you wondering if the passive activity loss rules affect business ventures you’re engaged in — or might engage in?