Articles by

Olsen Thielen

Your Next Form 990 Filing

The deadline for calendar-year nonprofits to file Form 990 with the IRS has come and gone. But it’s never too early to think about reporting responsibilities for the next deadline. Read more for more information activities to track.
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Expanded Overtime Rules

Discover how the Department of Labor's recent expansion of overtime rules could impact your business. This article discusses the key changes and implications of the new regulations.
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2025 Amounts for Health Savings Accounts

The IRS recently released the 2025 Health Savings Account (HSA) amounts, which have been adjusted for inflation.
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Nonprofit Audit Findings

Nonprofit audit findings usually contain recommendations that need to be taken seriously and acted on. Failing to take action could threaten your nonprofit's future.
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Buying a Business – Plan Ahead

If you’re buying a business, the way the transaction is structured can lead to better or worse tax results, but you need to plan in advance of the acquisition.
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Tax Considerations of Adding a New Partner

There are several financial and legal implications when adding a new partner to a partnership. Although the entry of a new partner may seem simple, you should plan properly to avoid tax problems.
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Volunteer Legal Risk and Tax Liability

Most charitable volunteers don’t think about potential legal and tax liabilities resulting from their volunteer activities. As a nonprofit leader, it’s your responsibility to ensure they never have to worry about such risks.
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Manufacturers: Consider a Reverse Sales & Use Tax Audit

Manufacturers should consider conducting a reverse sales & use audit (the opposite of a government audit that seeks to collect tax underpayments) to ensure they are taking full advantage of sales & use tax exemptions.
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Disaster Relief Charities – IRS Tax Rules

Many natural disaster relief charities are gearing up for a potentially busy tornado and hurricane season. Before an emergency hits, make sure you know IRS rules for providing aid to victims.
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FTC Ban on Noncompete Agreements

A new FTC ruling has made noncompete agreements unenforceable for most employees, with the aim of fostering competition and job mobility. Learn about the ruling and its potential impact on your business in this article.
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Inherited IRAs Waiver for 2024

The IRS's latest notice suspends RMDs for some inherited IRAs in 2024, offering beneficiaries a financial breather. Find out if you qualify for this waiver and how it affects your tax obligations.
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Navigating the Visa and Mastercard Settlement

Business owners should take advantage of the Visa and Mastercard Settlement and submit claims before the August 30, 2024 deadline.
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Recording Legitimate Business Expenses

If you operate a business, or you’re starting a new one, carefully recording legitimate business expenses is important to be able to claim all the tax deductions to which you’re entitled.
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Financial Reset: Strategizing for a Prosperous Future

Conduct a financial reset using the SMART framework to prepare financially for the future. Learn about strategies for debt repayment, evaluating your emergency fund, and early tax planning.
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Tax-Favored Retirement Plan

If you’re a business owner without a retirement plan, establishing one is simpler than you may think. And there still may be time to set up a tax-favored retirement plan for LAST year, depending on your situation.
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