If you own a small business you may want to consider the option to hire your child. You can save family income and payroll taxes by putting your child on the payroll. It’s a win-win!
Olsen Thielen Advisor Blog
Learn how Artificial Intelligence is transforming worker productivity and its impact on businesses and the labor market.
Hiring your child for your business can lead to significant tax savings by shifting income, reducing taxes, and reducing FICA and FUTA obligations. However, it's crucial to follow employment laws and withhold appropriate taxes. Learn more about the benefits and rules for hiring your child.
No matter your not-for-profit’s mission, you can probably use data analytics to help uncover root causes of seemingly intractable problems, predict outcomes, boost efficiency and improve transparency.
Americans are placing more of their wealth in retirement accounts. A mistake while filling out beneficiary forms can cause the form to be deemed invalid or may cause account holdings to be dispersed in a way not intended by the account holder. Because beneficiary designation forms on accounts such as
Shortages in accountants and increasing workplace demands for remote options are forcing organizations to take a closer look at their software and technology platforms and are strongly suggesting a push to cloud accounting platforms.
The IRS has announced the inflation-adjusted 2024 HSA Amounts. Here they are, along with the benefits of Health Savings Accounts (HSAs).
The SECURE Act 2.0 was signed into law on December 29, 2022. It covers numerous changes to retirement provisions that affect individuals. The provisions are intended to increase retirement savings; facilitate access to retirement savings; and provide employees the opportunity to save more and longer for retirement, at a lower cost.
The SECURE Act 2.0 was signed into law on December 29, 2022 and covers numerous changes to retirement provisions that affect employers and lower their cost of offering and funding retirement savings plans.
Effective altruism advocates high-impact philanthropy, but its risks may outweigh its rewards. Here’s what nonprofits should know before partnering with an effective altruist.
It’s critical to maintain your nonprofit’s publicly supported charity status. Certain organizations, including universities and churches, automatically qualify as public charities. For other nonprofits, you must pass certain tests.
When a not-for-profit’s Accounting and Development staffs are like oil and water, it can affect financial statements and lead to the forfeiture of grant funds. Here are some ideas to correct the communication gap.
Giving circles sometimes are confused with crowdsourcing. But these groups of donors tend to be smaller, more focused and more likely to take an active role in supporting charities. Learn more:
Here are some of the key 2023 Q2 tax deadlines that apply to businesses and other employers during the second quarter of 2023.
Every manufacturer is different, but strong cash flow for manufacturing companies is essential throughout the industry. The right cash flow strategies do, however, depend on your situation. Here are some ideas to improve your cash flow.