Articles by

Olsen Thielen

Schmidt & Schmidt, Ltd. to Join Olsen Thielen CPAs and Advisors

March 3, 2023

We are excited to announce that Schmidt & Schmidt, Ltd, has joined Olsen Thielen CPAs and Advisors, effective January 1, 2023. Both Twin Cities-based CPA firms have an established reputation across the country and share a strong emphasis on personalized client service and key industry expertise.

Home Office Expenses

March 3, 2023

If you’re self-employed and run your business from home or perform certain functions there, you might be able to claim deductions for home office expenses against your business income.

Heavy SUV Tax Break

March 2, 2023

If you’re buying or replacing a vehicle that you’ll use in your business, be aware that a heavy SUV may provide a more generous tax break this year than you’d get from a smaller vehicle. The reason has to do with how smaller business cars are depreciated for tax purposes.

Manufacturing Cyberattacks

March 1, 2023

Manufacturing cyberattacks are becoming more common and the attacks are designed to disrupt operations and extort money. Here are some ideas to get ahead of the cybercriminals.

Properly Funding Your Living Trust

March 1, 2023

VIDEO: Failing to properly fund a living trust is one of the most common errors people make and can lead to unintended consequences and added costs for both the individual and their beneficiaries. In this video, we'll provide an overview of how to properly fund a living trust.

M&A Tax Implications

February 20, 2023

If you’re considering buying or selling a business, it’s important to understand the M&A tax implications before moving ahead. After the transaction is complete, it may be too late to get the best tax results.

Tax Savings for Manufacturers

February 17, 2023

Do you know what are the top tax-saving opportunities for manufacturers in 2023? Once your manufacturing company’s 2022 tax return has been filed, you can focus your efforts on reducing its 2023 tax liability.

Reasons to Renew

February 17, 2023

When inflation is high, you may need to give your members a reason to renew because it’s common for people to cut expenses by deciding not to renew subscriptions and memberships.

Value of Tangible Donations

February 15, 2023

Is the value of tangible donations simply the price a not-for-profit would charge if it sold the goods in a rummage sale or on an auction website?

Endowment Investments

February 13, 2023

Endowment investments come with major responsibility and generally need to be managed by a financial expert. And, nonprofit organizations must adhere to certain regulations.

SECURE 2.0 Act

February 8, 2023

The Setting Every Community Up for Retirement Enhancement, SECURE 2.0 Act of 2022, aims to improve retirement savings by making it easier for employers to offer retirement plans to employees and offers many changes for individuals. Here are some of the highlights of the Act.

Business Tax Limit Increases

February 1, 2023

Business tax limit increases for 2023 have risen more than usual due to inflation. An array of tax-related limits that affect businesses are indexed annually and here are some that may be important to you and your business.

Employer-Provided Child Care

January 31, 2023

Now may be the time for your manufacturing company to consider offering employer-provided child care. The Section 45F tax credit can help offset some of the costs.

Learn to Love Delegation

January 13, 2023

To best serve your nonprofit and its constituents, you must practice the art of delegation and even perfectionists can learn to love delegation.

Minimize Financial Mistakes

January 12, 2023

Nonprofits need to take the necessary steps to minimize financial mistakes and be sure accounting processes are formally documented and that they are routinely followed.