Olsen Thielen Advisor Blog

To succeed at executing an effective performance management system, you need to build a solid frame by recognizing the foundational details. Done right, however, this system can provide a solid structure for maximizing performance and helping employees envision their future with your organization.
In today’s rough-and-tumble world of mergers and acquisitions (M&As), buyers need to get to know business sellers and their executives, test their representations about asset condition and financial performance, and screen for common fraud schemes.
Sometimes it happens: General partners (GPs) of a limited partnership intentionally mismanage the business or commit fraud. If you’re a limited partner (LP) in such a partnership, it’s important that you recognize the signs that something’s amiss.
How employers go about compensating employees remains a major factor in encouraging staff members to do their best work. One compensation model that has beckoned many organizations is pay for performance.
There are more than 87,000 foundations in the United States — including family, corporate and community foundations — according to the Foundation Center. If your nonprofit isn’t actively seeking grants from these groups, you’re neglecting a potentially significant income source.
In all companies, things can and do go wrong, and employees mishandle their assigned tasks and sometimes those mistakes are significant and costly.
Preparing your nonprofit’s annual budget is probably one of the least appealing parts of your job. Here’s how to make the process a little less painful.
The environment for hiring and retaining top-notch employees remains competitive. One strategy for combating high turnover rates is offering a competitive package of employee benefits that goes beyond health care coverage and a retirement plan. This is where the right fringe benefits can really pay off.
Lapping, or using receipts from one account to cover theft from another, is one of the most common methods of skimming from company accounts. But with vigilance — and a little knowledge — you can prevent this type of fraud from damaging your business.
Not-for-profit organizations don’t receive only cash donations. Your support also likely comes in the form of gifts in kind and donated services. But even when such gifts are welcome, it can be challenging to determine how to recognize and assign value to them for financial reporting purposes.
A cash balance plan is a defined benefit plan, which specifies the amount a participant will receive in retirement. But unlike traditional defined benefit plans, such as pensions, cash balance plans express those benefits in the form of a 401(k)-style account balance, rather than a formula tied to years of
Term limits for not-for-profit board members can be a double-edged sword. They can allow you to easily let go of unsuccessful board members, but they also can cause you to lose the best sooner than you’d like. Consider some of the issues involved before making a decision.
Recovering from tax-related identity theft can be a frustrating and time-consuming process. But the IRS can help remove fraudulent, inaccurate information from your federal tax records and ensure that your legitimate return is processed correctly. The key is to address the issue as soon as you realize your identity has
Anonymous hotlines an effective method of uncovering occupational fraud. But while the mere existence of a hotline can prompt second thoughts in employees tempted to commit fraud, it usually isn’t enough to encourage reporting of fraudulent activities.
Projecting your business income and expenses for this year and next can allow you to time when you recognize income and incur deductible expenses to your tax advantage. Typically, it’s better to defer tax. This might end up being especially true this year, if tax reform legislation is signed into
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