General Accounting

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What is a Fractional CFO?

VIDEO: Discover how a Fractional CFO can help your business with budgeting, forecasting, and cash flow management—expert insights from Adam Hennen at Olsen Thielen.
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Corporate Transparency Act (CTA) Reporting Suspended

The Treasury Department has suspended the CTA filing requirement for U.S. businesses, signaling a major shift in compliance obligations. While the rule may still face legal challenges, domestic companies are no longer required to report beneficial ownership information—at least for now.
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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.
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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?
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New Olsen Thielen Principals Elected

Olsen Thielen has elected four new principals to our firm leadership including: Rob Mathewson, Tony Oman, Charlie Sparks, and Carrie Sundberg.
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Cash or Accrual Accounting?

Many businesses have a choice between using the cash or accrual method of accounting for tax purposes. You choice can affect the taxes you pay, so you need to carefully evaluate the differences.
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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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Assessing Financial Well Being with Julie Walker

PODCAST: It’s time for a health check: is your business in good shape financially? In this episode of Q&A Over Coffee, we sit down with Olsen Thielen COO Julie Walker to dive into the components that determine the financial wellness of your business.
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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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Beneficial Ownership Information Reporting

PODCAST: Questions on the new Beneficial Ownership Information Reporting requirements? Check out our handout today for more information on what the requirements are, who they apply to, reporting deadlines, and links to additional resources and the FinCEN e-filing portal.
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Beneficial Ownership Information Reporting with Randy Sparling

Randy dives into the important topic of Beneficial Ownership and how to report BOI. There is information pertaining to many businesses that needs to be reported including Tax Payer ID Number, jurisdiction information, and more.
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Employee Retention Credits (ERC) with Magen Koepp

PODCAST: In this episode we speak with Olsen Thielen Audit Principal and Employee Benefit Plan Specialist Magen Koepp to talk about the Employee Retention Credit (ERC).
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New IRS 1099 Electronic Filing Requirements

Learn more about the new IRS Regulations effective January 1, 2024 that require electronic filing for 1099s and other returns. This is applicable to any entity who files 10 or more returns.
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IRS Audit Techniques Guides

IRS examiners use publications called IRS Audit Techniques Guides to prepare for audits in certain industries and those with various issues. The publications are available to the public, so you can read them to gain insight into what the IRS looks for in terms of compliance.
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Beneficial Ownership Reporting

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network issued a final rule implementing a beneficial ownership information reporting requirement under the Corporate Transparency Act. Learn how and when this reporting requirement may affect your company or organization.
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