Articles by

Olsen Thielen

Exploring Holding Companies

Holding companies offer benefits such as tax efficiency, liability protection, and privacy, but they also present challenges and complexity. This article provides an overview of what holding companies are, how they work, and their pros and cons.
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Changes to 403(b) Retirement Plans

The SECURE Act 2.0 made some important changes to 403(b) retirement plans, which typically are offered by nonprofits to their employees. Is your nonprofit caught up on the law’s provisions?
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Nonprofit Tax Credits

The Inflation Reduction has several provisions that benefit nonprofits with credits or cash payments. Read more for details on the provisions to determine if your nonprofit qualifies.
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Bartering Goods or Services

If your small business would like to exchange goods and services without exchanging money, you may be able to barter. The internet makes it easier to engage with other businesses. But if you barter, be aware of the tax consequences.
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WOTC for Manufacturers

The quest for skilled laborers in the manufacturing sector continues. Where can manufacturers turn to fill open positions? One option can also provide substantial tax savings: Hire workers that qualify for the Work Opportunity Tax Credit (WOTC).
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Maximize the QBI Deduction

The qualified business income, QBI deduction, is available to eligible businesses through 2025. After that, it’s scheduled to disappear unless Congress acts to extend it. So make the most of the tax break while it’s still on the books.
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R&D Credit for Small Businesses

Even if your startup business has little or no income tax liability, you may be eligible for a payroll tax credit election for increasing R&D activities. This tax break got better under the Inflation Reduction Act.
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Expense Reimbursement for Nonprofits

Even if your not-for-profit rarely needs to reimburse staffers, board members or volunteers, an expense reimbursement policy will make the reimbursement process easier and reduce the risk of any disagreements.
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Tax-Saving Opportunities for Manufacturers in 2024

For manufacturers, as certain provisions of the Tax Cuts and Jobs Act (TCJA) begin to phase out, other tax laws, including the Inflation Reduction Act and the Creating Helpful Incentives to Produce Semiconductors Act, have begun to kick in.
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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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