Olsen Thielen Advisor Blog

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Financial Planning for College

July 1, 2024

Financial planning for college expenses should be started as soon as possible. Also, you need to understand the effect of student aid and family contributions, explore college savings plans, and discover how to increase your child's chances of receiving merit-based scholarships.

Expanded Overtime Rules

June 26, 2024

Discover how the Department of Labor's recent expansion of overtime rules could impact your business. This article discusses the key changes and implications of the new regulations.

Preparing for Post-TCJA

June 25, 2024

Preparing for post-TCJA corporate tax changes in 2026 and beyond should be explored now. This article clarifies the complex tax landscape and offers valuable foresight for businesses.

New MN Retail Delivery Fee Begins July 1, 2024

June 24, 2024

Read more about the new Minnesota Retail Delivery Fee going into effect on July 1, 2024 to learn more about who it applies to, details of the fee, and exemptions.

Alternative Minimum Tax Basics for Individuals

June 24, 2024

Understanding the Alternative Minimum Tax (AMT) can be complex, but it's essential for strategic tax planning. This article guides you through the process of calculating your AMT and offers useful strategies for minimizing its impact.

2025 Amounts for Health Savings Accounts

June 6, 2024

The IRS recently released the 2025 Health Savings Account (HSA) amounts, which have been adjusted for inflation.

Nonprofit Audit Findings

June 4, 2024

Nonprofit audit findings usually contain recommendations that need to be taken seriously and acted on. Failing to take action could threaten your nonprofit's future.

Buying a Business – Plan Ahead

May 30, 2024

If you’re buying a business, the way the transaction is structured can lead to better or worse tax results, but you need to plan in advance of the acquisition.

Tax Considerations of Adding a New Partner

May 28, 2024

There are several financial and legal implications when adding a new partner to a partnership. Although the entry of a new partner may seem simple, you should plan properly to avoid tax problems.

Common Payroll Tax Issues With Jilayne Leary and Zach Deo

May 28, 2024

PODCAST: We are pleased to welcome Jilayne Leary, our Payroll and Employee Benefit Specialist, and Zach Deo, our Tax Director. Jilayne has been an integral part of Olsen Thielen for over 20 years, serving as a trusted expert in payroll tax and employee benefit regulations.

Volunteer Legal Risk and Tax Liability

May 23, 2024

Most charitable volunteers don’t think about potential legal and tax liabilities resulting from their volunteer activities. As a nonprofit leader, it’s your responsibility to ensure they never have to worry about such risks.

Manufacturers: Consider a Reverse Sales & Use Tax Audit

May 20, 2024

Manufacturers should consider conducting a reverse sales & use audit (the opposite of a government audit that seeks to collect tax underpayments) to ensure they are taking full advantage of sales & use tax exemptions.

Disaster Relief Charities – IRS Tax Rules

May 15, 2024

Many natural disaster relief charities are gearing up for a potentially busy tornado and hurricane season. Before an emergency hits, make sure you know IRS rules for providing aid to victims.

FTC Ban on Noncompete Agreements

May 14, 2024

A new FTC ruling has made noncompete agreements unenforceable for most employees, with the aim of fostering competition and job mobility. Learn about the ruling and its potential impact on your business in this article.

Inherited IRAs Waiver for 2024

May 13, 2024

The IRS's latest notice suspends RMDs for some inherited IRAs in 2024, offering beneficiaries a financial breather. Find out if you qualify for this waiver and how it affects your tax obligations.