Olsen Thielen Advisor Blog

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Your nonprofit may prefer donations (or immediate support) to pledges, which are usually promises to donate in the future. But if you do receive pledges, make sure to account for them properly.
Minnesota's new Paid Leave Program goes into effect on January 1, 2026. Employers should be aware of the new program - who is eligible, information on funding and benefit structure of the program, and their responsibilities including the initial reporting deadline coming up on October 31, 2024.
Choosing the right business entity is a key decision for any business. The entity you pick can affect your tax bill, your personal liability and other issues. For many businesses, the benefit of an LLC is an attractive choice.
There are complex tax implications that may apply when selling business property used in your trade or business. Rules apply to gains and losses and the amount of time you have had the business property.
Starting a manufacturing company isn’t cheap, and start-up costs can be substantial to acquire a facility, equipment and materials. Luckily, some start-up costs may be deductible for income tax purposes.
Understand the M&A trends in 2024 and how businesses are leveraging these opportunities to strengthen their market position.
Olsen Thielen has elected four new principals to our firm leadership including: Rob Mathewson, Tony Oman, Charlie Sparks, and Carrie Sundberg.
Tax Principal, Greg Nelson will be retiring from Olsen Thielen, effective August 31, 2024.
Educators who purchase classroom supplies and educational materials or pay for professional development expenses may be eligible to take advantage of this deduction.
Struggling with uncollectible debts? This article explains how to manage bad debts, including how to report them, track allowances, and handle unexpected repayments—all while staying compliant with tax rules.
Many businesses have a choice between using the cash or accrual method of accounting for tax purposes. You choice can affect the taxes you pay, so you need to carefully evaluate the differences.
Much like the nonprofits they support, NFP boards should evolve over time. Learn what nonprofit boards typically look like at different stages of an organization’s life.
Ever wondered how long you could be subject to an IRS audit? Understanding the timeframe for IRS audits, the statute of limitations, and the circumstances that may extend this period is crucial for maintaining proper tax records and ensuring compliance.
Beware of a new IRS scam involving clean energy tax credits, where scammers are misrepresenting the rules to unsuspecting taxpayers. Learn how this scam works and discover tips to protect yourself from falling victim.
You want your business to pay the minimum estimated tax amount without triggering a penalty for underpayment. Keep in mind that the next payment deadline is September 16, 2024.
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