Podcast: Tax Principal Matt Klein and Tax Director Zach Deo break down the most important provisions in Minnesota's 2026 Tax Bill, signed into law on May 27th.
Olsen Thielen Advisor Blog
The Minnesota Secure Choice Retirement program was created to help employees build financial security for the future. Enrollment deadlines go into effect by the number of employees and the first deadline is June 30, 2026 for employers with 100+ employees.
An up to date not-for-profit record retention policy is necessary for an Organization's compliance and transparency responsibilities. In addition, a sound record retention policy also helps mitigate risks and can lead to a smoother annual audit process.
A recent federal court case, Kwong v. United States, says that many federal Covid-19 tax deadlines may have been pushed back farther than the IRS recognized and could mean some taxpayers may have paid penalties or interest not actually owed and may be due a refund from the federal government.
Certain small businesses may qualify for various federal tax breaks. But different tax provisions use different size tests. Read on to learn more about big tax breaks for small businesses that meet one such test.
S-corporations are one of the most frequently discussed tax structures for small business owners. While they can offer real savings on self-employment taxes, the benefits aren't automatic - they depend on your income level, involvement in the business, and whether you're ready to manage the added compliance responsibilities.
Podcast: Explore the real-world impact of the “One Big Beautiful Act” after its first filing season, including SALT deductions, QBI permanence, bonus depreciation, Roth strategies, R&D expensing, and estate planning considerations.
Revocable living trusts are widely used and widely misunderstood. This article explains what revocable trusts actually do, what they don’t do, and why proper design, funding, and coordination matter. Understanding these nuances can help prevent surprises and improve estate planning outcomes.
Small business owners, beware: Tax identity theft is a costly, ongoing threat. Criminals may file fraudulent returns using a business’s EIN, impersonate executives to steal employee W-2 data, or use forged IRS documents to pose as a business for financial or tax-related activity.
Beware, small business owners: As your workforce grows, ACA compliance can become a costly surprise without proper planning.
The state and local tax, SALT deduction, temporarily increased under last year’s new tax law. Here’s how manufacturing company owners can benefit from it.
The research credit isn’t just for labs or tech companies. Many businesses are missing out because they mistakenly assume they don’t qualify, or aren’t sure where to start. Learn how the credit works and what to consider.
Most businesses use December 31 as the end of their fiscal year. But some companies in construction, accounting, and snowplowing operations, for example, may have valid reasons for adopting fiscal year ends. Aligning your tax year with your operating cycle can streamline reporting and support better planning.
The IRS has issued guidance for the qualified overtime compensation deduction, effective for tax years 2025 through 2028. Eligible workers must meet specific eligibility requirements, including valid Social Security numbers and certain filing status conditions.
For many parents, providing financial security for their children is a top priority. But building a financial foundation for kids involves more than funding college or opening a savings account.