- February 1, 2023
Business tax limit increases for 2023 have risen more than usual due to inflation. An array of tax-related limits that affect businesses are indexed annually and here are some that may be important to you and your business.
Olsen Thielen Advisor Blog
- January 31, 2023
Now may be the time for your manufacturing company to consider offering employer-provided child care. The Section 45F tax credit can help offset some of the costs.
- January 27, 2023
The Minnesota Department of Revenue administers many local sales taxes. Local sales taxes apply to the same items and services as the general state sales tax. Beginning April 1, 2023, fifteen Minnesota counties and cities are implementing new local taxes and two others are increasing their already enacted local taxes.
- January 27, 2023
If you’re seeking opportunities for improving cash flow in your manufacturing company, consider a fixed asset or cost segregation study. Manufacturing is a capital-intensive industry, so it’s critical to ensure that fixed assets are classified properly to recover their costs as quickly as possible.
- 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.
- January 24, 2023
Employee Retention Credit Scams (ERC) are on the rise. Determine if you are eligible for the ERC and be aware of the warning signs of a potential scam. Olsen Thielen can help assess if your company meets the qualifications to claim the ERC.
- January 24, 2023
Buy-sell agreements are an essential tool for businesses with more than one owner. This type of agreement defines what will happen to the departing owner's share of the business if they leave. Learn about the benefits, key components, and important considerations of a buy-sell agreement for your business.
- January 23, 2023
As outsourcing of services becomes more prevalent among organizations, it’s important for a company to ensure that its vendors enforce the same level of controls and protections that they do. A SOC evaluation is conducted by an independent CPA and provides validation and trust.
- January 20, 2023
Understanding nexus is essential for determining a company's tax obligations. However, many businesses are unaware of what establishes nexus and thus are unaware of their tax obligations. Learn about tax nexus and how it may affect your company.
- January 18, 2023
The Tax Cuts and Jobs Act (TCJA) of 2017 brought about a number of Research and Experimentation (R&E) changes to how R&E expenses are treated under Section 174 of the Internal Revenue Code.
- January 17, 2023
100% bonus depreciation is a tax provision that allows businesses to deduct the cost of certain qualifying property in the year it is placed in service rather than having to depreciate the cost over several years. Unfortunately, the 100% bonus depreciation deduction will begin to phase out after 2022.
- January 13, 2023
To best serve your nonprofit and its constituents, you must practice the art of delegation and even perfectionists can learn to love delegation.
- January 9, 2023
The tax treatment and deducting of software costs can be more complicated than you might think, and the rules depend on whether the software is purchased, leased or developed by your business.
- 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.
- January 5, 2023
Tax treatment of the sale of business assets is complex. And, there are many rules that potentially can apply to the sale of business property.