Olsen Thielen Advisor Blog

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Magen M. Koepp Elected Principal

Olsen Thielen is pleased to announce Magen M. Koepp was elected Principal of the firm, effective September 1, 2018. Magen is an Employee Benefit Plan Specialist and has ten years of experience in accounting, auditing and consulting.
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Hennen Appointed Board Chair

Olsen Thielen is proud to announce Adam Hennen has been appointed Board Chair for the White Bear Area Chamber of Commerce.
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401k Enrollment Eligibility Rules

Employers need to be aware of the 401k enrollment eligibility rules. The details of who can participate and when they become eligible should be determined based on your plan goals.  Many plan sponsors strive for a happy medium between immediate enrollment and highly restricted or delayed enrollment. As you
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Get Your Financial Statements in Order Before Asking for a Business Loan

As a business owner, if you are considering expanding your company, be sure to get your financial statements in order before asking for a business loan.
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Virtual Board Meetings for NFPs

Many organizations are holding virtual board meetings that allow board members to be present via phone and web-based applications instead of in person, face-to-face meetings. This option isn’t without obstacles, but it can ease board member attendance problems as well as help with recruitment challenges.
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Apartment Complex Property Manager – Employee or Independent Contractor?

The IRS recently won a tax court case that reclassified an apartment complex manager (who was being treated as an independent contractor) as an employee, subjecting the apartment building’s owner to employment taxes and penalties.
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South Dakota v. Wayfair Supreme Court Decision – How This Could Affect You

Prior to South Dakota v. Wayfair, businesses were not required to charge, collect, and remit state and local sales tax unless they had a physical presence in that state (employees, a store, a distribution center with inventory, etc.). However, our current Internet marketplace has dramatically changed our shopping habits. Customers
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Michael Bromelkamp to Retire

Olsen Thielen Principal, Michael Bromelkamp, is in the process of transitioning from his many responsibilities at Olsen Thielen after 25 years with the Firm.
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Lisa Dunnigan Named Finalist for ORBIE Awards

Lisa Dunnigan, Olsen Thielen CIO and Principal was named a finalist for the Twin Cities CIO of the Year ORBIE Awards. The Twin Cities CIO of the Year ORBIE Awards honor chief information officers who have demonstrated excellence in technology leadership.
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Shell Companies Could Mean Fraud

A shell company is an entity created without active business operations or assets.  While they are not illegal, sometimes shell companies could mean fraud.
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Synthetic Identity Theft

Synthetic identity theft involves the creation of a fictitious identity based on a combination of real and fake information.  While criminals use only a portion of your stolen personal data to create the fictitious identity, that doesn’t necessarily lessen the negative impact to your credit. According to forensic experts, synthetic
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Competitive Business Health Assessment

For business owners, it is important to step back and regularly do a competitive business health assessment.  Even a successful business can fall victim to changing market conditions or major disruptions in the industry if they are not paying attention.
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Trust and Fraud in Your Family Business

There are many benefits of working with a family you love and trust. However, sometimes the trust family members have for each other is one of the things that create some major problems that compromise the business’s finances and longevity because it only takes one person to damage or destroy
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Quality Fraud Investigation Report

A quality fraud investigation report can provide many documents, including witness interviews, paper trails and detailed facts uncovered in the process.
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Change Management Benefits

Change is difficult and when change management benefits are carefully considered, a formal approach can minimize the negative fallout and increase the likelihood of achieving your desired change goals, whether it be something as drastic as a merger or as simple as a new software program. 
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