Improve Nonprofit Accounting Processes
Inefficient accounting processes and errors can cost a nonprofit time and money. Here are some tips on how to find and fix less than perfect accounting processes.
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Charitable Auctions
Charitable auctions can be an effective way for nonprofits to raise funds. But they can also trip up nonprofits (and donors) that don’t follow tax rules. Here are some of the most important issues.
Converting to Cloud Accounting: Pros and Cons
Shortages in accountants and increasing workplace demands for remote options are forcing organizations to take a closer look at their software and technology platforms and are strongly suggesting a push to cloud accounting platforms.
SECURE Act 2.0 – Employers
The SECURE Act 2.0 was signed into law on December 29, 2022 and covers numerous changes to retirement provisions that affect employers and lower their cost of offering and funding retirement savings plans.
Giving Circles
Giving circles sometimes are confused with crowdsourcing. But these groups of donors tend to be smaller, more focused and more likely to take an active role in supporting charities. Learn more:
Manufacturing Cyberattacks
Manufacturing cyberattacks are becoming more common and the attacks are designed to disrupt operations and extort money. Here are some ideas to get ahead of the cybercriminals.
R&E Expense Amortization Got You Down?
VIDEO: Now that Research & Experimentation expenses must be amortized over several years, many companies are looking for ways to increase deductions and reduce taxable income. Here are three opportunities to potentially accelerate depreciation and reduce your tax liability.
Tax Savings for Manufacturers
Do you know what are the top tax-saving opportunities for manufacturers in 2023? Once your manufacturing company’s 2022 tax return has been filed, you can focus your efforts on reducing its 2023 tax liability.
Reason to Renew
When inflation is high, you may need to give your members a reason to renew because it’s common for people to cut expenses by deciding not to renew subscriptions and memberships.
R&E Expenditure Under Section 174
The Tax Cuts and Jobs Act (TCJA) of 2017 brought about a number of Research and Experimentation (R&E) changes to how R&E expenses are treated under Section 174 of the Internal Revenue Code.
Manufacturing Tax Laws in Limbo
Barring further legislation, certain manufacturing tax laws are in limbo, as key provisions have expired or have begun to phase out. Here are three that could have a significant impact on your company.
Company Structure Affects Taxes for Manufacturers
A company’s structure affects taxes and for decades, owners of small to midsize manufacturing companies have opted for the S corporation form of ownership, rather than being subject to the double taxation of C corporations. However, in recent years the limited liability company (LLC) has become another popular alternative.
Gregory Nelson
Greg is a Principal and the head of Olsen Thielen’s Tax Department. He works in the Tax Department of the Eden Prairie office of Olsen Thielen and works primarily with closely-held, family-owned, start-up companies, and real estate professionals. Greg has recently participated as a panelist for Finance & Commerce’s “The
Joseph Mayer
Joe is a Principal in the Tax Department of the Roseville office of Olsen Thielen and has extensive experience in tax issues and tax planning with closely-held and family-owned businesses and their shareholder/owners. Experience Consults on business and individual tax planning Provides research on technical tax issues affecting business and/or
Scott Hoyles
Scott is a Principal in the Tax Department of the Roseville office of Olsen Thielen and works with closely-held businesses and individuals in the manufacturing, construction, professional services, and hospitality industries. Experience Provides business valuations for business transactions and planning, estate work and gift compliance, shareholder disputes, and more Experience