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Don’t Let Employees Ignore their 401(k)

March 13, 2019

Offering a 401(k) plan has become a competitive necessity for businesses, but some some employees are so accustomed to having a plan they ignore their 401(k) or at most pay very little attention to it. As a business owner, it's in your best interest to keep your employees engaged

Restricted versus Unrestricted Gifts

March 13, 2019

Nonprofit organizations rely on donor gifts to achieve their objectives. There are two kinds of gifts, restricted--that come with conditions attached; and unrestricted, that can be added to general operating funds and used where needed..

Leasing or Buying Equipment

March 12, 2019

Have you ever wondered if leasing or buying equipment would be more tax efficient for your business? Recent changes to federal tax law and accounting rules could affect whether you make the decision to lease or buy equipment or other fixed assets.

Financial Warning Signs in Not-for-Profits

March 12, 2019

Financial warning signs in not-for-profits can be subtle. Board members have a responsibility to recognize signs of financial distress and do everything in their power to avert potential disaster.

Pass Through Entities: Beware of Ides of March

February 26, 2019

The Ides of March, more commonly known as March 15, is the federal income tax filing deadline for "pass-through" entities such as calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes.

Malicious Apps

February 19, 2019

According to the KnowBe4 Security Team (www.knowbe4.com), the bad guys are developing malicious apps with the hopes of making their way into your mobile device’s app store–and sometimes they’re successful. Recently, over 100,000 people across the globe downloaded applications containing spyware from a reputable app store.

Like-Kind Exchanges of Real Property

February 19, 2019

Generally, if a taxpayer exchanges business or investment property solely for business or investment property of a like or similar kind, they don’t need to recognize a gain or loss.

If / Then Scenarios for Taxpayers Who Get Phished

February 19, 2019

It is important for everyone to be aware that thieves often pose as the IRS to get taxpayers to turn over personal information in a scam called phishing. The type of information thieves are looking for includes requests for PIN numbers, passwords or similar information for credit cards, banks and

Don’t be a Gift Card Fraud Victim

December 19, 2018

Gift cards have become increasingly popular as holiday gifts and sales are expected to reach $30 billion in 2018. Like individuals, businesses also find that gift cards are a convenient way to thank their employees and customers during the holiday season.

Stop Reusing the Same and/or Old Passwords!

December 11, 2018

According to the KnowBe4 Security Team (www.knowbe4.com), if you're using the same password for multiple accounts, you're making yourself vulnerable! If the bad guys have your credentials for one site, they can use tools to automatically test those credentials on other sites. So, if you are using the same password

Magen M. Koepp Elected Principal

September 4, 2018

Olsen Thielen is pleased to announce Magen M. Koepp was elected Principal of the firm, effective September 1, 2018. Magen is an Employee Benefit Plan Specialist and has ten years of experience in accounting, auditing and consulting.

Hennen Appointed Board Chair

August 10, 2018

Olsen Thielen is proud to announce Adam Hennen has been appointed Board Chair for the White Bear Area Chamber of Commerce.

401k Enrollment Eligibility Rules

August 9, 2018

Employers need to be aware of the 401k enrollment eligibility rules. The details of who can participate and when they become eligible should be determined based on your plan goals. Many plan sponsors strive for a happy medium between immediate enrollment and highly restricted or delayed enrollment. As you

Get Your Financial Statements in Order Before Asking for a Business Loan

August 9, 2018

As a business owner, if you are considering expanding your company, be sure to get your financial statements in order before asking for a business loan.

Virtual Board Meetings for NFPs

August 9, 2018

Many organizations are holding virtual board meetings that allow board members to be present via phone and web-based applications instead of in person, face-to-face meetings. This option isn’t without obstacles, but it can ease board member attendance problems as well as help with recruitment challenges.