Olsen Thielen Advisor Blog

Three Types of Information Your Nonprofit’s Board Needs

By | June 26th, 2017|

Information is power. And regularly supplying information to your not-for-profit’s board of directors is the key to the board properly fulfilling its duties. This doesn’t mean you have to share every internal email or phone [...]

2017 Q3 Key Deadlines

By | June 20th, 2017|

Here are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply [...]

Consider Tax Consequences Before Making an Employee a Partner

By | June 20th, 2017|

In today’s competitive environment, offering employees an equity interest in your business can be a powerful tool for attracting, retaining and motivating quality talent. If your business is organized as a partnership, however, there are [...]

Estate Tax and the Minnesota Omnibus Tax Bill

By | June 15th, 2017|

The Minnesota Omnibus Tax bill was signed on May 30, 2017.  The bill includes a couple of noteworthy changes to the Minnesota Estate Tax.  The following changes affect decedents' estates with dates of death after [...]

Individual Income Tax Changes Due to Minnesota Omnibus Bill

By | June 13th, 2017|

Minnesota Governor Mark Dayton signed an Omnibus tax bill on May 30, 2017 that enacts numerous personal tax changes. Highlighted below are a handful of the more general provisions from the bill. New Subtractions from [...]

Loans Between Your Business and Its Owners

By | June 12th, 2017|

Dot the “i’s” and cross the “t’s” on loans between your business and its owners. It’s common for closely held businesses to transfer money into and out of the company, often in the form of [...]

Should Your Not-for-Profit Take Out a Loan?

By | June 8th, 2017|

Debt is an integral part of many for-profit companies’ strategic plans, yet it has traditionally carried a stigma in the not-for-profit world. That view is changing, as more organizations borrow money for major capital purchases, [...]

5 Tips for Successful Not-for-Profit Succession

By | June 7th, 2017|

Every not-for-profit organization needs a comprehensive succession plan to ensure smooth leadership transitions. Here are five tips for making a written plan successful: 1. Look within. It’s important to develop employees who can move up [...]

Interesting Facts

By | June 7th, 2017|

--John Steinbeck used 300 pencils to write his novel, East of Eden. --When trying out a new pen, 97% of people write their own name. --On August 20, 1949, time appeared to stand still for [...]

Choosing Best Way to Reimburse Employee Travel Expenses

By | June 6th, 2017|

If your employees incur work-related travel expenses, you can better attract and retain the best talent by reimbursing these expenses. But to secure tax-advantaged treatment for your business and your employees, it’s critical to comply [...]