General Tax

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Year-End Tax Planning for Small Businesses

We’ll be saying goodbye to 2024 in no time. Here are some year-end tax planning ideas that may help your small business save on taxes.
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2024 Q4 Tax Deadlines

Here are some of the key 2024 Q4 tax deadlines affecting businesses and other employers. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you.
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Benefit of an LLC

Choosing the right business entity is a key decision for any business. The entity you pick can affect your tax bill, your personal liability and other issues. For many businesses, the benefit of an LLC is an attractive choice.
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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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Educator Expense Deduction

Educators who purchase classroom supplies and educational materials or pay for professional development expenses may be eligible to take advantage of this deduction.
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Bad Debt Deductions for Businesses

Struggling with uncollectible debts? This article explains how to manage bad debts, including how to report them, track allowances, and handle unexpected repayments—all while staying compliant with tax rules.
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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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Timeframe for IRS audits

Ever wondered how long you could be subject to an IRS audit? Understanding the timeframe for IRS audits, the statute of limitations, and the circumstances that may extend this period is crucial for maintaining proper tax records and ensuring compliance.
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Clean Energy Tax Credits Scams

Beware of a new IRS scam involving clean energy tax credits, where scammers are misrepresenting the rules to unsuspecting taxpayers. Learn how this scam works and discover tips to protect yourself from falling victim.
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Corporate Estimated Tax

You want your business to pay the minimum estimated tax amount without triggering a penalty for underpayment. Keep in mind that the next payment deadline is September 16, 2024.
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Tax Implications of Legal Gambling

With the rise of legal gambling, sports betting and online gambling, it's crucial to understand the IRS reporting requirements associated with your winnings. Read more to find out the thresholds for different types of gambling and how to report your earnings accurately.
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Financial Mistakes Startups Should Avoid

Launching a startup is an exciting venture, but it's easy to overlook some crucial financial aspects. Financial mistakes can make or break your startup's success. Learn how to avoid these common pitfalls and build a thriving business.
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2024 Q3 Tax Calendar

Summer is here and tax deadlines are probably the last thing on your mind. But there are some important 2024 Q3 tax payment filing deadlines that businesses and employers can’t afford to forget about.
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Employee Retention Credit Processing

The IRS is making significant strides in processing Employee Retention Credit claims. Gain a deeper understanding of these recent updates and their implications for your business.
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A Non-Controlling Shareholder Can Sell Private Company Stock

Selling private company stock can be challenging for a non-controlling shareholder. This article explores the critical considerations, from understanding company restrictions to finding the right buyers and planning for taxes.
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