Olsen Thielen Advisor Blog

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Pass Through Entity Tax with Zach Deo

February 1, 2024

PODCAST: In this episode, Olsen Thielen’s resident expert on PTE, Tax Director Zach Deo, joins us to provide more information on just what the PTE is and why it’s a good option for many business owners here in Minnesota. If you’re a business owner looking to save on your federal

Beneficial Ownership Information Reporting with Randy Sparling

January 30, 2024

Randy dives into the important topic of Beneficial Ownership and how to report BOI. There is information pertaining to many businesses that needs to be reported including Tax Payer ID Number, jurisdiction information, and more.

2024 MN Sales and Tax Use Updates

January 29, 2024

The MN Department of Revenue has released information on changes for new and existing tax laws in 2024.

I Want Out: Planning Your Exit with Randy Krivo

January 23, 2024

Considering selling your business? Check out the latest Q&A Over Coffee podcast episode I Want Out: Planning Your Exit with our guest Randy Krivo, Senior M&A Advisor at True North Mergers & Acquisitions to begin thinking about next steps when you determine it may be time to retire or sell

Nonprofit Compliance

January 10, 2024

In recent years, the IRS has increased its scrutiny of nonprofit compliance. Failure to file Form 990 for three consecutive years can lead to automatic exempt status revocation, and other violations can trigger IRS investigations.

Nonprofit Merger

January 7, 2024

A nonprofit merger with a like-minded organization potentially enables you to pool funds, staff, and supporters — temporarily or permanently.

Donation Return Request

January 5, 2024

Although uncommon, donors can change their minds and may ask your not-for-profit to return a gift. You need to look at the problem and find a solution.

Company Car and Taxes

January 5, 2024

For many employees, the use of a company car is a cherished perk. But before you hand over the keys, make sure you understand the rules that apply to a company car and taxes.

2024 Inflation-Adjusted Rates

January 4, 2024

The IRS has announced various federal inflation-adjusted rates. Here’s a rundown of the amounts that are most likely to affect small businesses and their owners.

Trust and Internal Controls

January 4, 2024

Strong internal controls reduce risk for nonprofits but trust and internal controls can coexist.

2024 Q1 Tax Deadlines

January 3, 2024

In the first quarter of 2024, businesses face several tax-related deadlines. Here are some key due dates and obligations.

Employee Retention Credits (ERC) with Magen Koepp

January 3, 2024

PODCAST: In this episode we speak with Olsen Thielen Audit Principal and Employee Benefit Plan Specialist Magen Koepp to talk about the Employee Retention Credit (ERC).

Choosing the Right Accounting Software with Steve Iverson and Becky Halvorson

January 3, 2024

PODCAST: We are joined by two of our Business Accounting Solutions (BAS) professionals, Steve Iverson and Becky Halvorson, on how businesses can navigate through the accounting software choices available to find one that best suits their needs.

Business Deductions

January 3, 2024

You want to be able to deduct business expenses on your tax return. But in order to be deductible, expenses must be ordinary, necessary and reasonable. Here are the rules.

Nonprofit Board Term Limits

January 3, 2024

Term limits for not-for-profit board members can be a double-edged sword. They can allow you to easily let go of unsuccessful board members, but they also can cause you to lose the best sooner than you’d like.