Estate planning is an essential part of financial planning for all individuals, regardless of age or asset level. It can help ensure you have enough money for retirement, minimize your estate taxes and maximize the wealth you pass to your beneficiaries. This article will outline which documents are essential for
Olsen Thielen Advisor Blog
There are thousands of grants and millions of dollars available to nonprofits from the federal government, states, foundations and other sources. Getting the grant you need generally requires you to submit a thorough, professional, and compelling grant proposal.
To help businesses and taxpayers impacted by the pandemic, the Minnesota Department of Revenue provided nexus relief from business income tax and sales and use tax specifically related to telecommuting due to the COVID-19 pandemic.
If your manufacturing company is like many others in the industry, you’re having difficulty finding top-notch new hires to expand your workforce and replace employees who are retiring or quitting. At the same time, you’d like to reduce your tax liability.
Small-sized manufacturers’ may enjoy several tax advantages that allow them to reduce their tax bills, defer taxes and simplify the reporting process. For example, federal tax rules generally defined a “small business” as one with average annual gross receipts of $5 million or less for the three preceding tax years.
The Tax Cuts and Jobs Act (TCJA) of 2017 brought about a number R&E changes under Section 174 (how research and experimentation (R&E) expenses are treated under Section 174 of the Internal Revenue Code). Unfortunately, while many provisions of the TCJA went into effect immediately, changes to Section 174 were
Here are some of the key 2022 third quarter tax deadlines affecting businesses and other employers. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you.
A recession can be challenging for any business. However, business owners can take steps to prepare for a recession and position their companies for growth as the economy recovers. In this video, we'll provide six tips to help you and your business prepare for a recession.
Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. The average nationwide price of a gallon of unleaded regular gas on June 17 was $5, compared with $3.08 a year earlier, according to the AAA Gas Prices website. A gallon
The 2022 Report to the Nations from the Association of Certified Fraud Examiners reports that not-for-profits are the least likely type of organization to experience occupational fraud. And nonprofit fraud controls can be inexpensive to put into place. For example, a code of conduct, mandatory vacations, fraud training for employees,
There’s a valuable tax deduction available to a C corporation when it receives dividends. The “dividends-received deduction” is designed to reduce or eliminate an extra level of tax on dividends received by a corporation. As a result, a corporation will typically be taxed at a lower rate on dividends than
Cash flow management is critical for any business or organization, especially those in growth mode. Even when profitable, poor cash flow management can lead to a disastrous outcome for a company. If your business has ongoing cash flow issues or if you suddenly find yourself short of cash, there are
Manufacturing companies must pay close attention to federal and state rules when determining whether someone is a contractor or employee. Unfortunately, some manufacturing company owners mistakenly believe that the misclassification of employees as independent contractors doesn’t really matter as long as contractors satisfy all their tax obligations.
If your small business or start-up is planning to claim the research tax credit, there’s an option to get immediate use of the research tax credit. Subject to limits, you can elect to apply all or some of any research tax credits against payroll taxes instead of your income tax.
How effective are your nonprofit grant proposals? If you aren’t meeting with much success, you may need to change tack. Here’s how to research the grant, support your proposal and avoid pitfalls.