Olsen Thielen Advisor Blog

Explore the impact of a recent legal shift that broadens the scope of self-employment taxes, including limited partners and gig workers. Learn how everyday activities could land you in the self-employment tax bracket and how to avoid potential penalties.
VIDEO: Did you know that over half of all business fraud stems from inadequate internal controls? In this video, we'll provide you with four specific controls you can implement to help protect your business. 
If you operate a business, or you’re starting a new one, carefully recording legitimate business expenses is important to be able to claim all the tax deductions to which you’re entitled.
Conduct a financial reset using the SMART framework to prepare financially for the future. Learn about strategies for debt repayment, evaluating your emergency fund, and early tax planning.
If you’re a business owner without a retirement plan, establishing one is simpler than you may think. And there still may be time to set up a tax-favored retirement plan for LAST year, depending on your situation.
Most manufacturers issue companywide income statements. But have you considered digging deeper into your numbers with a segmented income statement? It can highlight key performance drivers and possible improvement strategies for your company.
Prospective nonprofit board members commonly cite time constraints as a reason not to join. Using board committees to lighten the load may make it easier for nonprofits to recruit qualified individuals.
VIDEO: Thousands of WordPress websites are hacked daily, causing significant disruptions and data leaks. Learn about nine essential security measures you should prioritize to protect your WordPress website from cyber threats.
As of 2024, certain long-term part-time employees are eligible to participate in 401(k) plans. This article provides a detailed understanding of the changes to retirement plan rules brought about by the SECURE Acts.
PODCAST: It’s time for a health check: is your business in good shape financially? In this episode of Q&A Over Coffee, we sit down with Olsen Thielen COO Julie Walker to dive into the components that determine the financial wellness of your business.
The IRS has issued a warning against companies misrepresenting personal wellness and nutrition expenses as medical expenses. Understand the potential tax implications and how to use your health spending accounts responsibly.
Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can help achieve this goal: first-year Section 179 depreciation deductions and first-year bonus depreciation deductions.
Understand the IRS's new e-filing system for Form 8300, designed to simplify the reporting of cash payments over $10,000. Learn who must file, the e-filing requirements, and how to apply for a waiver if e-filing is challenging for your business.
VIDEO: The IRS has issued clear warnings about its increased scrutiny of high-net-worth individuals, especially those using risky tactics to reduce tax obligations. This video provides strategies for optimizing your financial situation while staying within the bounds of the law. 
PODCAST: Selling your business? Planning your retirement? Strategic planning? Want a better understanding of the worth of your business? There are many reasons why a business owner would benefit from having a Business Valuation performed.
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