Articles by

Olsen Thielen

Determining Reasonable Compensation for S-Corp Owners

VIDEO: As an owner of an S-Corp, understanding the concept of reasonable compensation is crucial for tax planning and compliance. Learn about the IRS's reasonable compensation rules for determining how much should be taken in the form of wages versus pass-through income.
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Why the Cost of Customer Acquisition Is So Important

VIDEO: For any business, understanding and effectively managing the cost of customer acquisition is crucial for success. In this video, we'll explain what it is, how it's calculated, and how it affects a business's profitability, cash flow, and overall growth.
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How Top CEOs Found Success Through Immersion

VIDEO: Discover how CEOs of Airbnb, Starbucks, and Uber immersed themselves in their own businesses as customers and frontline employees, gaining valuable insights that transformed their companies. Learn how their firsthand experiences led to innovative improvements and a better understanding of their customers' needs.
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Will You Need To Report Beneficial Ownership Information?

VIDEO: The Corporate Transparency Act will require most businesses to provide beneficial ownership information to the U.S. Department of Treasury to combat money laundering. Find out who needs to report, what information is required, and when the reports must be submitted.
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Mistakes To Avoid When Setting Growth Goals

VIDEO: Discover the common mistakes made when setting growth goals and how to avoid them. Learn how to create a clear and achievable plan to take your business to the next level.
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The Power of AI: Boosting Worker Productivity

VIDEO: Learn how Artificial Intelligence is transforming worker productivity and its impact on businesses and the labor market.
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Hiring Your Child Can Help You Save Big in Taxes

VIDEO: Hiring your child for your business can lead to significant tax savings by shifting income, reducing taxes, and reducing FICA and FUTA obligations. However, it's crucial to follow employment laws and withhold appropriate taxes. Learn more about the benefits and rules for hiring your child.
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Business Travel Expenses: Per Diem vs Actual Expenses

VIDEO: If your employees travel for work purposes, it’s important to understand the various methods of tracking and substantiating travel expenses so that you can maintain accurate records, control costs, and take advantage of potential tax benefits. Watch this video to learn the methods affect employees and employers.
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Six Misconceptions of a Revocable Living Trust

VIDEO: A revocable living trust, or RLT, offers many benefits, including probate avoidance, privacy, and flexibility in managing assets during one’s life, incapacity, and death. However, there are misconceptions surrounding revocable trusts. Watch this video to learn about the top six misconceptions.
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2023 IRS Dirty Dozen Tax Scams

VIDEO: The Internal Revenue Service published its 2023 IRS Dirty Dozen Tax Scams highlighting various schemes that put taxpayers and their financial well-being at risk. In this video, we'll provide an overview of five of the top scams on the list.
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R&E Expense Amortization Got You Down?

VIDEO: Now that Research & Experimentation expenses must be amortized over several years, many companies are looking for ways to increase deductions and reduce taxable income. Here are three opportunities to potentially accelerate depreciation and reduce your tax liability.
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Incentivize Employees with Stock Appreciation Rights

VIDEO: A solution to incentivize employees using stock appreciation rights might be a better solution than tying their compensation to the company's performance or using stock options. One way to do this is through stock options, but using stock appreciation rights might be a better solution.
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Lease Accounting Rules Changes

VIDEO: The Financial Accounting Standards Board (FASB) recently issued lease accounting rules changes in the proposed Accounting Standards Update for Leases (Topic 842). The update addresses related-party arrangements between entities under common control. This video provides an overview of the proposed changes.
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When To Outsource Your Accounting

VIDEO: 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.
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Recognizing Revenue in Financials

VIDEO: 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
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