The IRS recently won a tax court case that reclassified an apartment complex manager (who was being treated as an independent contractor) as an employee, subjecting the apartment building’s owner to employment taxes and penalties.
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Prior to South Dakota v. Wayfair, businesses were not required to charge, collect, and remit state and local sales tax unless they had a physical presence in that state (employees, a store, a distribution center with inventory, etc.). However, our current Internet marketplace has dramatically changed our shopping habits. Customers
- June 19, 2018
Olsen Thielen Principal, Michael Bromelkamp, is in the process of transitioning from his many responsibilities at Olsen Thielen after 25 years with the Firm.
- May 22, 2018
Lisa Dunnigan, Olsen Thielen CIO and Principal was named a finalist for the Twin Cities CIO of the Year ORBIE Awards. The Twin Cities CIO of the Year ORBIE Awards honor chief information officers who have demonstrated excellence in technology leadership.
- May 12, 2018
A shell company is an entity created without active business operations or assets. While they are not illegal, sometimes shell companies could mean fraud.
- May 12, 2018
Synthetic identity theft involves the creation of a fictitious identity based on a combination of real and fake information. While criminals use only a portion of your stolen personal data to create the fictitious identity, that doesn’t necessarily lessen the negative impact to your credit. According to forensic experts, synthetic
- May 11, 2018
For business owners, it is important to step back and regularly do a competitive business health assessment. Even a successful business can fall victim to changing market conditions or major disruptions in the industry if they are not paying attention.
- May 11, 2018
There are many benefits of working with a family you love and trust. However, sometimes the trust family members have for each other is one of the things that create some major problems that compromise the business’s finances and longevity because it only takes one person to damage or destroy
- May 10, 2018
A quality fraud investigation report can provide many documents, including witness interviews, paper trails and detailed facts uncovered in the process.
- May 10, 2018
Change is difficult and when change management benefits are carefully considered, a formal approach can minimize the negative fallout and increase the likelihood of achieving your desired change goals, whether it be something as drastic as a merger or as simple as a new software program.
- May 10, 2018
The Tax Cuts and Jobs Act (TCJA) made some significant changes in net operating loss treatment. A net operating loss (NOL) occurs when deductible expenses exceed income. While this is not usually the desired result, the NOL can result in tax benefits when used to offset other income.
- May 9, 2018
Solvency is essential to staying in business and sometimes hiring solvency experts is needed to resolve creditor payment issues.
- May 9, 2018
Cultivating positive public relations for nonprofits is an important way to build community support. Good public relations is a cost-effective way to build awareness and create opportunities to achieve your mission. If you’re struggling to get enough visibility from the media,
- May 8, 2018
A nonprofit advisory board has many advantages. An advisory board is an informal group of volunteers whose purpose is to give advice and support to the governing board. It does not have any formal legal responsibilities or decision-making authority, but it can bring complementary — and valuable — skills and
- May 7, 2018
Despite the real threat and high cost of fraud, too many businesses fail to build fraud risk management programs that work. If you have put off taking this important step toward protecting your company, now is the time to act.