Olsen Thielen Advisor Blog

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VIDEO: Are you a high-income earner seeking ways to optimize your retirement savings? Get a full grasp of how the Backdoor Roth IRA can be an effective tool for you.
VIDEO: If you're a business owner who mistakenly claimed the Employee Retention Credit, find out how the new IRS Voluntary Disclosure Program can help you rectify the situation. Discover the eligibility criteria, benefits, and application process in our informative video.
In recent years, the IRS has increased its scrutiny of nonprofit compliance. Failure to file Form 990 for three consecutive years can lead to automatic exempt status revocation, and other violations can trigger IRS investigations.
A nonprofit merger with a like-minded organization potentially enables you to pool funds, staff, and supporters — temporarily or permanently.
Although uncommon, donors can change their minds and may ask your not-for-profit to return a gift. You need to look at the problem and find a solution.
For many employees, the use of a company car is a cherished perk. But before you hand over the keys, make sure you understand the rules that apply to a company car and taxes.
The IRS has announced various federal inflation-adjusted rates.  Here’s a rundown of the amounts that are most likely to affect small businesses and their owners.
Strong internal controls reduce risk for nonprofits but trust and internal controls can coexist.
In the first quarter of 2024, businesses face several tax-related deadlines. Here are some key due dates and obligations.
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.
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.
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.
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.
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.
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