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Thinking of Opening Your Own Business?

February 26, 2020

Have you ever thought about opening your own business? If so, you will join the group of people who launch small businesses and start out as sole proprietors. Here are nine important tax rules and considerations that sole proprietors need to keep in mind.

New Principals Elected

October 8, 2019

We are pleased to announce Matthew J. Klein and Nathaniel L. Nelson have been elected Principals of the firm, effective September 1, 2019. With their election, Olsen Thielen now has 21 Principals and over 86 staff.

Ask the Right Questions About Your Cybersecurity Risk

October 2, 2019

Business owners only need to turn on the news to learn about the latest data breach or attack of ransomware. But when it comes to their own business’ security, are they asking the right questions to ensure they are doing all they can to prepare for the rising tide of

Fraud Risk Assessment

August 20, 2019

Publicly traded companies must conduct fraud risk assessments but privately held businesses aren't subject to the the same fraud risk assessment requirements.

Social Security No Match Letter

August 19, 2019

Starting in the spring of 2019, the Social Security Administration (SSA) has been sending out these letters to alert employers if there’s a discrepancy between the agency’s files and data reported on W-2 forms, which are filed with the IRS.

Active Fraud Detection

August 15, 2019

When it comes to reducing fraud loss and duration, active fraud detection methods (such as surprise audits or data monitoring) are far more effective than passive methods (such as confessions or notification by police). In spite of the effectiveness of the active methods, many companies fail to use them to their full

Background Checks Help Cover all the Bases

July 30, 2019

Background checks don’t inoculate companies against occupational fraud and other criminal acts by employees. After all, many thieves have never been caught and, therefore, have no criminal background.

Corporate Espionage

July 26, 2019

Corporate espionage involves the theft of information that hasn’t been made public and each year businesses lose billions of dollars in intellectual property (IP) from thieves stealing trade secrets.

Social Security Phone Scam

June 4, 2019

Identify theft is a growing problem for consumers, and the latest tool in the scammers arsenal is the Social Security Phone Scam.

Succession Plan for Family Business

May 16, 2019

Owners of a family-owned business many times underestimate the need for a succession plan for their family business. The thinking may be "we’re a family business and there'll always be a family member here to keep the company going and no one will stand in the way."

Robocall Scam

April 23, 2019

According to the KnowBe4 Security Team (www.KnowBe4.com), be on the lookout for a popular robocall scam that is tricking people into believing their Social Security number (SSN) has been suspended.

Entrepreneurs and Start-Up Expenses

April 23, 2019

For start-ups, before you even open the doors, you generally have to spend a lot of money to train workers and pay for rent, utilities, marketing and more. Entrepreneurs sometimes are surprised to find out that many expenses can’t be deducted right away.

Magen M. Koepp Elected Principal

September 4, 2018

Olsen Thielen is pleased to announce Magen M. Koepp was elected Principal of the firm, effective September 1, 2018. Magen is an Employee Benefit Plan Specialist and has ten years of experience in accounting, auditing and consulting.

Get Your Financial Statements in Order Before Asking for a Business Loan

August 9, 2018

As a business owner, if you are considering expanding your company, be sure to get your financial statements in order before asking for a business loan.

Michael Bromelkamp to Retire

June 19, 2018

Olsen Thielen Principal, Michael Bromelkamp, is in the process of transitioning from his many responsibilities at Olsen Thielen after 25 years with the Firm.