- January 3, 2024
In the first quarter of 2024, businesses face several tax-related deadlines. Here are some key due dates and obligations.
Olsen Thielen Advisor Blog
- January 3, 2024
PODCAST: In this episode we speak with Olsen Thielen Audit Principal and Employee Benefit Plan Specialist Magen Koepp to talk about the Employee Retention Credit (ERC).
PODCAST: We are joined by two of our Business Accounting Solutions (BAS) professionals, Steve Iverson and Becky Halvorson, on how businesses can navigate through the accounting software choices available to find one that best suits their needs.
- January 3, 2024
You want to be able to deduct business expenses on your tax return. But in order to be deductible, expenses must be ordinary, necessary and reasonable. Here are the rules.
- January 3, 2024
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.
- January 2, 2024
A cost segregation study might allow you to accelerate depreciation deductions on certain items, reducing taxes and boosting cash flow. Under current law, the potential benefits of a cost segregation study are now even more significant than they were a few years ago.
- December 14, 2023
The Internal Revenue Service has issued the 2024 standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
- December 6, 2023
For business owners, determining whether they’re making repairs or improvements can be tricky — but it’s important to be aware that the distinction can have real tax consequences.
- December 6, 2023
PODCAST: This episode is a must-listen for business owners, HR professionals, and employees seeking clarity on the recent MN legislative changes.
- December 4, 2023
Learn more about the new IRS Regulations effective January 1, 2024 that require electronic filing for 1099s and other returns. This is applicable to any entity who files 10 or more returns.
- December 4, 2023
Tax credits are far more valuable than tax deductions. Unlike a deduction, which reduces a business’s taxable income, a credit reduces the business’s tax liability dollar for dollar. However, for businesses, the aggregate value of tax credits may be limited by the general business credit (GBC).
- December 4, 2023
VIDEO: In the world of real estate, the Section 1031 exchange has been a significant tool for investors who want to grow their real estate portfolio and wealth. In this video, we'll explain how a 1031 exchange works and important considerations when using one.
- December 4, 2023
VIDEO: You likely have at least one old retirement account if you've ever changed employers. These accounts stay exactly as you left them unless you take action. In this video, we'll provide options for what to do with those old accounts.
- November 30, 2023
IRS examiners use publications called IRS Audit Techniques Guides to prepare for audits in certain industries and those with various issues. The publications are available to the public, so you can read them to gain insight into what the IRS looks for in terms of compliance.
- November 29, 2023
The FCC has released the latest version of the Broadband Map showing a significant reduction in areas without high-speed broadband. Find out more about these changes and opportunities available for providers available through the BEAD program.