Olsen Thielen Advisor Blog

VIDEO: Expecting a Capital Gain? You may be able to receive significant tax incentives for investing in an Opportunity Zone Fund. Here's a great 2 minute video to find out more.
According to the KnowBe4 Security Team (www.KnowBe4.com), be on the lookout for a popular robocall scam that is tricking people into believing their Social Security number (SSN) has been suspended.
For start-ups, before you even open the doors, you generally have to spend a lot of money to train workers and pay for rent, utilities, marketing and more. Entrepreneurs sometimes are surprised to find out that many expenses can’t be deducted right away.
A nonprofit board retreat is an opportunity for participants to get past the ordinary topics of regular board meetings and delve deeply into specific issues. Most board members lead busy lives and some may not be able to attend all meetings or possibly only attend via teleconference.  A carefully planned
With great sadness we announce the passing of a Robert J. Olsen on March 13th.  Bob was a terrific business leader, mentor, husband, and father.  Bob and Reynold Thielen took the reins of the firm in 1957 and led it through a period of tremendous growth. 
All organizations, whether for-profit or not-for-profit, must evolve or they could become obsolete.  For-profit organizations tend to react faster to market demands, whereas many not-for-profits continue to run their organization the same way it always has been done in the past.  Not-for-profits can learn a few things from the for-profit
Competition is intense for private and public grants to not-for-profits, so it is as important as ever to write a winning grant proposal.  Submitting a sloppy and unprofessional grant proposal could undermine your efforts to receive adequate grant money. 
Not-for-profit organizations frequently conduct raffles as fundraisers. This popular fundraiser, however, is subject to strict state and federal tax rules. State laws can vary significantly, but nonprofits also must comply with federal income tax requirements such as unrelated business income, reporting and withholding.
Financial resources are precious for most not-for-profit organizations and they need to minimize accounting and tax mistakes. It is true that to err is human, but some errors are more consequential and harder to fix than others.  Here are some questions you need to ask to avoid common accounting and tax
Religious congregations are not required to file tax returns so they may not have the benefit of regular oversight by independent accountants and also may not be aware of the best practices that should be followed.  Without professional accounting oversight, they could be leaving their organizations vulnerable to fraud and
Like many not-for-profits you may use regular member surveys to find out the pressing needs of your members, but if you fail to conduct them strategically means you could end up with useless information. Maximize your next survey’s effectiveness by focusing on your objectives during every stage of the process.
Striving to improve communication and collaboration between a not-for-profit's development and accounting departments can avoid confusion, embarrassment and possibly financial problems. Here are three ways your organization can facilitate cooperation between these two critical functions.
VIDEO: Cyber Security is a constant battle for both individuals and companies. Here's a great video with information and strategies on cyber threats and how to defend your company against them.
Directors and officers (D&O) liability insurance is common in the business world, but not as common at not-for-profit organizations.  This type of coverage enables board members to make decisions without fear that they’ll be personally responsible for any related litigation costs.
Offering a 401(k) plan has become a competitive necessity for businesses, but some some employees are so accustomed to having a plan they ignore their 401(k) or at most pay very little attention to it. As a business owner, it's in your best interest to keep your employees engaged
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