Articles by

Olsen Thielen

As an employer, it is important to classify your workers as either employees or independent contractors correctly. Incorrectly classifying workers can have serious legal and financial consequences. Employees are entitled to certain rights and benefits under the law, including minimum wage and overtime pay. Independent contractors, on the other hand,
The Financial Accounting Standards Board and the International Accounting Standards Board have provided standards for properly recognizing revenue. Using a five step process, companies recognize revenue based on the value and timing of when control of the goods and services are transferred to the customer. Learn about the
Thanks to the cloud and automation, outsourcing has never been a more viable option than it is today. Quite often, outsourcing can be more efficient and less expensive than hiring dedicated staff. In this video, we'll cover the benefits of outsourcing your accounting.
The Inflation Reduction Act includes the Clean Vehicle Tax Credit program which provides tax credits for purchasing electric vehicles. Learn about the tax credits and limits on qualifications.
As your child begins to earn money from a job, it’s a great time to teach them about saving for the future. While a savings account is a great start, an even better opportunity is to open an IRA. With an IRA, your child can invest their hard-earned funds and
While most companies expense the cost of research and development activities, most fail to take advantage of the R&D tax credit. Learn how the tax credit works and what expenses qualify for it.
A stock option plan can be used to align the interests of employees and shareholders, and attract and retain talented workers. This video will cover the basics of a stock option plan and how your company may benefit from having one.
Estate planning is an essential part of financial planning for all individuals, regardless of age or asset level. It can help ensure you have enough money for retirement, minimize your estate taxes and maximize the wealth you pass to your beneficiaries.  This article will outline which documents are essential for
The Tax Cuts and Jobs Act (TCJA) of 2017 brought about a number R&E changes under Section 174 (how research and experimentation (R&E) expenses are treated under Section 174 of the Internal Revenue Code). Unfortunately, while many provisions of the TCJA went into effect immediately, changes to Section 174 were
A recession can be challenging for any business. However, business owners can take steps to prepare for a recession and position their companies for growth as the economy recovers. In this video, we'll provide six tips to help you and your business prepare for a recession.
Cash flow management is critical for any business or organization, especially those in growth mode. Even when profitable, poor cash flow management can lead to a disastrous outcome for a company. If your business has ongoing cash flow issues or if you suddenly find yourself short of cash, there are
Parenting comes with many responsibilities, which include teaching children how to budget, save money, and make responsible financial decisions. In this video, we'll cover six tips to help your children learn about saving, spending and investing.
Grooming future leaders and mapping out a succession plan in advance is one of the best ways to mitigate the risk of losing key personnel and prepare for the future needs and growth of an organization. This video offers tips and best practices for creating and implementing a succession plan
Ransomware is a significant threat for business owners of any size, and the damages can be catastrophic. This video will explain what ransomware is and provide seven tips on protecting you and your company.
As use of cryptocurrency has been growing, many users aren't aware of the tax rules and regulations that govern cryptocurrency transactions. In this video, we'll explain how and when cryptocurrencies are taxed, as well as how to report transactions to the IRS.
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