Manufacturing and Distribution

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Olsen Thielen is a proud Platinum Sponsor of Enterprise Minnesota. Last night, Enterprise Minnesota held their annual State of Manufacturing rollout event to showcase important statistics regarding the Manufacturing Industry - one that Olsen Thielen is heavily involved with.
If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under current law.
Do you and your spouse operate a profitable unincorporated small business? If so, a spouse-run business is generally classified as a partnership and can face some challenging tax issues.
Inflation has some beneficial side effects for business owners. One is that the 2023 depreciation adjustment amounts increases the possible tax breaks your business.
The Sec. 199A deduction is a potentially valuable tax break if your manufacturing company operates under one of the applicable pass-through entity types such as an S corporation, partnership or limited liability company, and you meet certain eligibility requirements.
If you are guaranteeing a loan to your corporation and it goes into default, there may be tax consequences. You don’t want to be caught unaware.
It’s smart for manufacturing business owners to have a well-planned exit strategy. Do you know what your plan should cover?
The 2023 Q4 tax deadlines are coming up fast. And, it’s also time to start thinking about year-end tax strategies.
On October 1, 2023, a metro sales tax increase will affect seven metro counties in Minnesota. The counties of Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington will need to collect a new 1% local sales tax that will be used to fund transportation and housing projects.
In 2024, new provisions of the Secure Act 2.0 may allow businesses to help non-highly compensated employees in financial emergencies to take a withdrawal from their 401(k), 403(b) or 457(b) plan using emergency savings accounts that are linked to the plan.
If your manufacturing company is looking to reduce its tax bill, it’s important to familiarize yourself with the General Business Credit (GBC) which is a collection of credits scattered throughout the tax code.
Has your manufacturing company considered reshoring production to the United States? There are plusses and minuses to weigh before making a final decision.
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.
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.
When spending money personally on behalf of your closely held corporation, you want to ensure the expenses are tax deductible by either you or the business.
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