Articles by

Olsen Thielen

Labor Shortages in Manufacturing

Your employee value proposition (EVP), refers to everything employees appreciate about the company. Survey your workers to learn what they value the most to help retain and attract employees and address labor shortages.
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Managing a Financial Windfall

A financial windfall presents both an opportunity and a challenge. While it’s a chance to boost your financial health, it also demands savvy strategic planning to minimize taxes and maximize returns. 
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Board Meeting Minutes

Nonprofit board meeting minutes could become critical documents in an IRS review or legal proceeding. It is important to capture the right information.
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New DOL Guidance on Employee Classification

The U.S. DOL has issued new guidance on employee classification. This article provides an overview of the rule, its implications, and the steps employers must take to ensure their employee classifications are under the updated guidelines.
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Cash and Accrual Accounting Methods

Businesses have two accounting methods to figure their taxable income: cash and accrual. Many businesses have a choice of which method to use for tax purposes.
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UBIT for Nonprofits

Sponsorship and advertising can provide a real boost to your not-for-profit’s income. However, if sponsors or advertisers receive a “substantial benefit” or if providing benefits isn’t a related business activity, you may owe unrelated business income tax (UBIT).
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Manufacturing Section 179 Tax Breaks

In 2024, manufacturers purchasing equipment and other tangible property may be able to save taxes by claiming Section 179 expensing and first-year bonus depreciation.
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Beneficial Ownership Information Reporting

PODCAST: Questions on the new Beneficial Ownership Information Reporting requirements? Check out our handout today for more information on what the requirements are, who they apply to, reporting deadlines, and links to additional resources and the FinCEN e-filing portal.
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Beneficial Ownership Information Reporting with Randy Sparling

Randy dives into the important topic of Beneficial Ownership and how to report BOI. There is information pertaining to many businesses that needs to be reported including Tax Payer ID Number, jurisdiction information, and more.
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I Want Out: Planning Your Exit with Randy Krivo

Considering selling your business? Check out the latest Q&A Over Coffee podcast episode I Want Out: Planning Your Exit with our guest Randy Krivo, Senior M&A Advisor at True North Mergers & Acquisitions to begin thinking about next steps when you determine it may be time to retire or sell
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Nonprofit Compliance

In recent years, the IRS has increased its scrutiny of nonprofit compliance. Failure to file Form 990 for three consecutive years can lead to automatic exempt status revocation, and other violations can trigger IRS investigations.
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Nonprofit Merger

A nonprofit merger with a like-minded organization potentially enables you to pool funds, staff, and supporters — temporarily or permanently.
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Donation Return Request

Although uncommon, donors can change their minds and may ask your not-for-profit to return a gift. You need to look at the problem and find a solution.
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Company Car and Taxes

For many employees, the use of a company car is a cherished perk. But before you hand over the keys, make sure you understand the rules that apply to a company car and taxes.
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2024 Inflation-Adjusted Rates

The IRS has announced various federal inflation-adjusted rates.  Here’s a rundown of the amounts that are most likely to affect small businesses and their owners.
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