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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.

Apartment Complex Property Manager – Employee or Independent Contractor?

July 11, 2018

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.

South Dakota v. Wayfair Supreme Court Decision – How This Could Affect You

June 22, 2018

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

Michael Bromelkamp to Retire

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.

Lisa Dunnigan Named Finalist for ORBIE Awards

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.

Shell Companies Could Mean Fraud

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.

Synthetic Identity Theft

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

Competitive Business Health Assessment

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.