- 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.
Olsen Thielen Advisor Blog
- 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.
- 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.
- 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.
- 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
- 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.
- 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
- 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.
- August 10, 2018
Olsen Thielen is proud to announce Adam Hennen has been appointed Board Chair for the White Bear Area Chamber of Commerce.
- 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
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.
- 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.
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.
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.