Articles by

Olsen Thielen

Golden Nest Egg for the Self-Employed

A solo 401(k) plan is a powerful retirement savings tool if you run a one-person small business. Here’s how you can help save for a golden nest egg and reap tax advantages.
More Info »

Decoding Income Definitions: AGI, MAGI, and Taxable Income

Navigating the U.S. tax system can be complex, particularly when understanding income definitions like Adjusted Gross Income (AGI), Modified Adjusted Gross Income (MAGI), and Taxable Income. These definitions impact your tax liability and eligibility for various deductions and credits.
More Info »

Business Continuity Plan for Manufacturers

A business continuity plan is a must for manufacturing companies. Your plan should outline the immediate steps to be taken in the event of a crisis and be flexible enough to allow your company to adapt to unanticipated scenarios.
More Info »

Developing Effective Programs at Not-for-Profits

Whether your nonprofit’s program budget will be smaller or larger in 2025, this is a good time to review current offerings to assess which are effective and which aren’t. You may even find your organization is ignoring important needs in your community.
More Info »

Manufacturers: Set a Realistic Budget

A realistic budget can allow your manufacturing company to identify potential cash shortages and production capacity constraints. However, be aware of certain pitfalls.
More Info »

New Form 1099-K Threshold

Significant changes to the IRS's 1099-K reporting thresholds are in effect and affect anyone who uses payment apps or online marketplaces. Find out what these updates mean for you and how to navigate the new requirements.
More Info »

Travel Expenses Deduction

If you’re a small business owner, you want to take full advantage of travel expenses deductions that are allowed for business travel. They can reduce your taxable income. Safe travels and happy deducting!
More Info »

Business-Related Meal and Entertainment Expense Deductions

Business-related meal deductions can be valuable, but the rules can be complex. Under current law, your business can’t deduct most entertainment expenses.
More Info »

Corporate Transparency Act Blocked Once Again

In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN.
More Info »

FTC Rule on Fake Reviews

The Federal Trade Commission has implemented new rules to crack down on fake reviews, aiming to restore consumer trust and promote fairness in the online marketplace. These regulations target deceptive practices like fabricated reviews, bought endorsements, and undisclosed conflicts of interest.
More Info »

IRS Releases Inflation Adjustments for 2025

The IRS has announced significant inflation adjustments for the 2025 tax year, impacting standard deductions, income tax brackets, and various tax credits. Discover how the updates could affect your tax strategy and financial future.
More Info »

Olsen Thielen Honored to Receive the 2024 VHEDC Keith Warner Standard of Excellence Award

Olsen Thielen is a long time supporter of the VHEDC, it’s members and mission, and we are honored to receive the VHEDC Keith Warner Standard of Excellence award. Our engagement in the community and volunteer groups is vital to our staff and who we are as a firm.
More Info »

Understanding Taxes on Real Estate Gains

If you’re the owner of a pass-through entity, the federal income tax rules for gains from the sale of business real estate or vacant land may be more complicated than you thought.
More Info »

Does Your Business Need to Report Employee Health Coverage

One crucial aspect of offering employee health coverage is understanding the reporting requirements of federal agencies such as the IRS. Does your business have to comply, and if so, what must you do?
More Info »

2025 401(k) Limit Increases

The IRS announced the 2025 401(k) limit increases and issued technical guidance on cost of living adjustments. Read more the see how these increases could affect you.
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.