Professional Services

Categories
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.
You can operate your small business in several ways. For example, your entity can be a sole proprietorship, an S corporation or a partnership. There are some LLC advantages you should be aware of.
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.
When employment taxes aren't paid to the government, the Trust Fund Recovery Penalty is personally imposed on certain business owners and managers. Here are the rules, along with two cases where individuals were held liable and hit with the harsh penalty.
PODCAST: In our inaugural episode of Q&A Over Coffee, the Olsen Thielen team and Doug Loon, President & CEO of the Minnesota Chamber of Commerce, explore the new landscape of economic uncertainties facing business owners today. Topics covered include potential implications of new proposed tax legislation, workforce changes, increased financing
Do you know if your employees are covered by the Family and Medical Leave Act (FMLA)? In this article, get the details on employee thresholds and leave provisions.
As of July 1, 2023, Minnesota will prohibit employers from requiring employees to sign non-compete agreements restricting their employment options upon termination.
If your business has a choice to deduct real estate expenses or depreciate them over several years, the decision may seem simple. But there are a number of factors to consider.
Business meal and vehicle expenses are a magnet for IRS review. If you claim deductions for them, it’s important to comply with the strict tax law substantiation requirements. Keep these DOs and DON’Ts in mind.
VIDEO: Learn how Artificial Intelligence is transforming worker productivity and its impact on businesses and the labor market.
These days, many businesses are filling vacant positions and saving money by using independent contractors. Here are the basic rules to help keep you out of trouble with the IRS.
We Value Your Privacy

This site may use cookies to store information on your computer. Some are essential to make our site work and others to improve the user experience. By using this site, you consent to the placement of these cookies and accept our privacy policy.