Articles by

Olsen Thielen

IRS Appraisal Rules for Donating Non-Cash Assets

Looking to donate or gift non-cash assets? Don't do it without understanding the IRS appraisal rules first. Not following the rules could have unexpected tax complications in spite of your generosity.
More Info »

Manufacturing Cybersecurity Risks

Addressing manufacturing cybersecurity risks is more critical than ever for manufacturers as they increasingly integrate advanced technologies into their operations. While these innovations boost productivity, they also expand potential areas for cyberattacks.
More Info »

IRS Interest Rates Unchanged for Q2 2025

The IRS has announced that interest rates on tax overpayments and underpayments will remain unchanged for the second quarter of 2025. Individuals and businesses should take note of these rates, as they impact potential interest owed or earned on tax balances.
More Info »

Nonprofits: Cut Costs Rather Than Staff

If your nonprofit is facing a budget crisis and needs to cut costs, there are other possible ways to cut costs than laying off staff. Read more about possible solutions for your organization.
More Info »

Business Succession Options and Tax Implications

When it’s time to consider your company's future, business succession planning can protect your legacy and successfully set up the next generation of leaders or owners. Business succession options have tax implications. Read to learn more.
More Info »

Product Profitability for Manufacturers

For manufacturers, knowing product profitability for individual items is essential for strategic decision-making and long-term success. While total revenue can provide a sense of overall product performance, profitability analysis can deliver a clearer picture of which products contribute the most (and the least) to your bottom line.
More Info »

Corporate Transparency Act (CTA) Reporting Suspended

The Treasury Department has suspended the CTA filing requirement for U.S. businesses, signaling a major shift in compliance obligations. While the rule may still face legal challenges, domestic companies are no longer required to report beneficial ownership information—at least for now.
More Info »

Manufacturers: Avoid Overpaying State Sales Taxes

Manufacturers often can benefit from state sales tax exemptions. However, available exemptions sometimes vary significantly by state, so manufacturers need to stay on top of available exemptions to avoid overpaying state sales taxes.
More Info »

Home Office Tax Deductions

As a business owner, you may be eligible to claim home office tax deductions that will reduce your taxable income. However, it’s crucial to understand the IRS rules to ensure compliance and avoid potential IRS audit risks.
More Info »

Tipped Employees and Tax Compliance

You may have heard about proposals to end taxes on tips. If you’re a business with tipped employees, you are required to adhere to a number of regulations and laws.
More Info »

Increased Business Tax Limits for 2025

For 2025, inflation-adjusted changes were made to certain business tax limits. Here’s how much employees can contribute to their 401(k)s and FSAs this year, as well as other important business tax amounts.
More Info »

Casino Nights Aren’t All Fun and Games for Nonprofits

Gaming fundraisers are popular with nonprofits and their supporters. But before you plan your event, make sure you know the IRS rules regarding reporting gambling activities and paying any tax due.
More Info »

Cost Allocation for Nonprofits

Nonprofits often struggle with properly handling the cost allocation of program expenses. Yet the process is critical because your supporters want to know how you use financial resources.
More Info »

Managing Payroll Taxes

Navigating the complexities of payroll taxes is a daunting task for small business owners. Learn how you can streamline your payroll processes by developing strategies to ensure compliance, avoid penalties and maintain employee trust so you can continue to focus on growing your enterprise.
More Info »

W-2 and 1099-NEC Deadlines

The deadline is almost here for businesses to submit certain information returns to the government and furnish them to workers. By Jan. 31, 2025, employers must file Forms W-2 that show the wages paid and taxes withheld for 2024 for each employee.
More Info »
We Value Your Privacy

This site may use cookies to store information on your computer. Some are essential to make our site work and others to improve the user experience. By using this site, you consent to the placement of these cookies and accept our privacy policy.