Articles by

Olsen Thielen

Exit Strategy Planning for Manufacturers

It’s smart for manufacturing business owners to have a well-planned exit strategy. Do you know what your plan should cover?
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Private Foundations Conflict of Interest

Private foundations must adhere to strict conflict-of-interest rules. Transactions with “disqualified persons,” including substantial contributors, managers, officers, directors and trustees and their families generally are off-limits. . Selling or leasing property to or from your foundation and making loans or providing goods to it are prohibited. If the IRS determines
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2023 Q4 Tax Deadlines

The 2023 Q4 tax deadlines are coming up fast. And, it’s also time to start thinking about year-end tax strategies.
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Reduce Volunteer Risk

Most not-for-profits regard their volunteers as invaluable assets and the organization needs to do all it can to reduce volunteer risk.  After all, if it weren’t for your volunteers’ dedication and commitment, your organization might have stalled out a long time ago.
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Tax Reporting for Special Events

For nonprofits, tax reporting for special events can be complicated. But careful tracking of revenues and expenses and retaining related documentation now will help facilitate the reporting process later.
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Emergency Savings Accounts

In 2024, new provisions of the Secure Act 2.0 may allow businesses to help non-highly compensated employees in financial emergencies to take a withdrawal from their 401(k), 403(b) or 457(b) plan using emergency savings accounts that are linked to the plan.
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Cryptocurrency Donations

Most nonprofits benefit when they accept donations from supporters in whatever form they want. So if you don’t yet accept cryptocurrency donations, here are some ideas on why you may want to start.
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General Business Credit for Manufacturing

If your manufacturing company is looking to reduce its tax bill, it’s important to familiarize yourself with the General Business Credit (GBC) which is a collection of credits scattered throughout the tax code.
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$10,000 in Cash?

If your business receives more than $10,000 in cash or cash equivalents in one transaction (or two or more related transactions), you’re generally required to report these large cash transactions to the IRS — and not just on your tax return.
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Reshoring Production

Has your manufacturing company considered reshoring production to the United States? There are plusses and minuses to weigh before making a final decision.
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New Ideas for Nonprofits

Change is good for all organizations and new ideas for nonprofits bring innovation that makes it easier to achieve, and even expand, the nonprofit's mission.
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LLC Advantages

You can operate your small business in several ways. For example, your entity can be a sole proprietorship, an S corporation or a partnership. There are some LLC advantages you should be aware of.
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High Net Worth Donors

If your nonprofit hopes to land a large gift, it needs to go to the source: high net worth donors. Learn more about wealthy philanthropists and how to get their attention.
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Nonprofit Public Relations

Good public relations can mean many things. But for a public charity, it means frequently, rather than occasionally, using the media to communicate with prospective supporters about successes, challenges and opportunities.
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Improve Nonprofit Accounting Processes

Inefficient accounting processes and errors can cost a nonprofit time and money. Here are some tips on how to find and fix less than perfect accounting processes.
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