Olsen Thielen Advisor Blog

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Lisa Dunnigan, Principal and Chief Information Officer, will be retiring effective August 31, 2025. 
The One, Big, Beautiful Bill Act (OBBBA) includes a number of favorable changes that will affect small business taxpayers, and some unfavorable changes too. Find out which OBBBA tax provisions apply to your business.
The One Big Beautiful Bill Act overhauls the tax code, locking in many 2017 cuts and unveiling new relief for workers, families, and businesses. Read our article for an overview of new rules created by the Act, in addition to extensions or enhancements of existing provisions.
Before you open for business, learn how startup costs are handled on a federal tax return.
Determining “reasonable compensation” is a critical issue for owners of C corporations and S corporations. If the IRS believes an owner’s compensation is unreasonably high or low, it may disallow certain deductions or reclassify payments, potentially leading to penalties, back taxes and interest.
Homeowners and renters in Minnesota may qualify for a valuable tax refund - either the Minnesota Property Tax Refund or Renter's Rebate. Read more to find out if you qualify for either of these programs
Vendor fraud can be a significant risk in the manufacturing sector, where companies rely on third-party suppliers for raw materials, components and services. Deceptive practices can erode your manufacturing company’s profitability, compromise product quality and damage relationships with legitimate suppliers.
Two proven tools can help your manufacturing company better navigate today’s uncertainties. First, rolling forecasts facilitate greater ongoing control over finances than a traditional, static budget. Second, financial modeling can provide valuable guidance amid evolving circumstances by testing how various assumptions are likely to unfold.
As advanced manufacturing processes increasingly rely on technology, the demand for highly skilled workers continues to grow. To stand out to these candidates, your manufacturing company must build a compelling employer brand that highlights career growth opportunities, investment in technology and a commitment to employee well-being.
Market volatility and swings can be unsettling, but they don’t have to weaken your retirement plan. Learn how a strategic blend of short-, mid-, and long-term investments, plus flexible withdrawal methods, can build financial resilience.
Misclassifying employees as independent contractors can result in expensive consequences if the IRS reclassifies them. But determining if a worker is a contractor or an employee can be complex.
If you or your employees are heading out of town on a business trip this summer, it’s important to understand the travel deduction tax rules. To qualify, the trip must be necessary for business purposes and require an overnight stay within the U.S.
As a small business owner, you might hesitate to establish a retirement plan due to the administrative complexities involved. However, there are two retirement plans worth considering that come with fewer requirements than traditional qualified retirement plans.
Even well-run companies experience down years. The federal tax code may allow a bright strategy to lighten the impact. In some cases a business loss, within limits, may be used to reduce taxable income in later years.
Think your tax refund is just "extra money"? It might actually be a sign that your withholding is off, and that the IRS has been holding your money all year. Learn how to fix that now, so you’re not stuck with a surprise bill (or a missed opportunity) next April.
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