Q&A Over Coffee Podcast
Pour a cup and tune in every three weeks for a discussion, or Q&A, over coffee. Hosted by and featuring expert guests on financial topics across numerous industries.
Contact us using the form below if you’d like more information on any of the topics featured in our episodes or have any suggestions for the Q&A Over Coffee team!
Recent Episodes:
#35: Roundtable: Managing Your Business Through Economic Uncertainty
This episode was recorded on Wednesday, January 15, 2025. The topics covered in this episode include discussions about economic and legislative policies that are continuously being updated. The information in this podcast is for informational purposes only. It is not intended to be professional legal, financial, or accounting advice. As always, we recommend seeking professional guidance for additional questions.
#34: State Tax Residency with Zach Deo and Nikki Bocock
Do you live in a different state from where you work? Do you have residency in multiple states? How do you know which state to file income taxes in? In this episode, we bring on tax directors Nikki Bocock and Zach Deo to answer these questions and share more information regarding state tax residency. You’ll learn about the 180-day rule, what you decide to have as the address on your driver’s license/ID, and even your community relationships and how these tie into where you file your taxes.
Resources:
MN Dept of Revenue – Residency Factors for Income Tax & M1NR Form
#33: Preparing for the Year End Audit with John Krzyska and Shaun Stachowski
For accountants, the fall marks the beginning of planning season. During this time, we proactively reach out to business owners to remind them that tax season is approaching, emphasizing the importance of organizing their financials in preparation for the year-end audit. In this discussion, Audit Manager John Krzyska and Senior Accountant Shaun Stachowski share key insights on the most effective strategies businesses can implement to ensure a smooth and successful audit process. Our staff have full schedules during the early months of the year and that time is dedicated to ensuring our clients have everything they need accounted for. Here’s what you can do!
#32: Employee Retention with Vanessa Foy
In this episode of Q&A Over Coffee, we are joined by our highly experienced HR Director, Vanessa Foy. With a diverse background spanning multiple professional service industries—from CPA firms to marketing agencies—Vanessa offers valuable insights into the retention challenges many firms face today. She shares actionable strategies for addressing these issues, particularly in a hybrid work environment, emphasizing the importance of understanding workplace culture, fostering transparency, and maintaining clear communication. We highly recommend tuning in, as retention is a critical and cost-effective practice that every business should prioritize.
#31: The Sunset of Current Tax Laws with Scott Hoyles and Joe Mayer
With the upcoming sunset of the Tax Cuts and Jobs Act, a piece of legilation that was signed into law in 2017, many tax payers are curious as to what they could expect for next year. To help clarify the situation, our Tax Principals, Scott Hoyles and Joe Mayer, will provide background information and offer guidance on how to prepare as we head into a new election cycle. While there are many uncertainties, it’s clear that several business entities and individuals will be impacted more significantly than others. Scott and Joe will share recommendations for those in different circumstances and serve as valuable resources as we approach this transition.
#30: My Accountant is Retiring with Magen Koepp
In the latest episode of Q&A Over Coffee, our host, Adam Hennen, is joined by Magen Koepp, Principal of Audit and ERISA. They discuss a pressing issue: 70% of current CPAs are expected to retire in the next decade. What should we do to prepare? Magen and Adam guide us through the process, from managing transition periods to transferring administrative responsibilities. Organizations with in-house accountants need to be aware of this shift. One popular solution is hiring a “Fractional CFO,” which is ideal for small businesses that require CFO services only part of the year. Additionally, Magen and Adam offer insights on finding the right accountant by matching your needs to their expertise. They delve into proactive planning strategies to address the inevitable retirement of your CPA.
#29: Process Improvement with Dustin Hostetler
In the latest episode of Q&A Over Coffee, we set up our guest, Dustin Hostetler, remotely from Florida where he runs his consulting service Transformity Solutions. On our call, Dustin gives us the ins and outs of how he and his business help CPAs, Manufacturers, and other industries analyze and improve processes. Dustin explains how important it is for businesses to continue improving and keep up with the ever-changing landscape in process improvement technology.
#28: Selecting Your ERP Software with Dick Krocak
Join us for an insightful episode featuring our CIO, Lisa Dunnigan, as we welcome software consulting expert Dick Krocak, who brings over 30 years of experience in computer science, mathematics, and information technology. Dick will discuss the critical role of software integration across various industries, including financial services, accounting, manufacturing, and logistics. He will highlight the complexities involved in integrating these tools, which often require extensive industry and company-specific knowledge. Tune in for valuable insights, and feel free to reach out to Dick with any questions you may have!
#27: Payroll Tax Issues with Jilayne Leary and Zach Deo
In the latest episode of Q&A Over Coffee, 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. In this episode, Jilayne provides valuable insights into aligning and identifying various benefits included in payroll. She also discusses potential penalties for businesses and employees, and the critical laws and regulations that businesses must follow to ensure proper payroll allocation.
#26: Working Effectively With Your CPA with Pat Powers
Join us for episode 26 of Q&A Over Coffee, where we welcome our President, Pat Powers, to discuss strategies for establishing effective relationships with your CPA. For businesses relying on CPAs for annual audits, tax returns, and compliance services, leveraging their expertise can lead to significant benefits. Enhanced communication and information sharing with your CPA can yield valuable insights and success. As CPAs specialize in various industries, their expertise enables informed business decisions tailored to specific sector dynamics. Tune in to explore how fostering a strong partnership with your CPA can drive business growth and success.
#25: Strategic Business Planning with Pat Hall
For episode 25 of Q&A Over Coffee, we invite our Audit Principal Pat Hall to talk to us about Strategic Business Planning. Pat has nearly 35 years of experience at Olsen Thielen and in that time has been responsible for coordinating strategic business planning events for our firm as well as our clients. Pat has seen how successful businesses become just by having these strategic planning events. He tells us about the people involved, the frequency in which they are held, what is discussed, and ultimately what they bring in the long run. We are excited to announce that it has officially been one year since we released our first episode!
#24: ERISA Essentials with Magen Koepp and Carrie Sundberg
A very important topic for businesses with employee benefit packages. In this episode we are joined by two leaders of our ERISA audit team: Principal Magen Koepp and Director Carrie Sundberg. Employee benefit plan audits are important for businesses that meet a certain number of participants. This is an enforcement by the Department of Labor and if businesses don’t meet certain requirements, they can experience costly penalties. We as a firm feel it is very important to inform you and other business owners about ERISA and how important performing an audit on your employee benefit plans can save you a lot of trouble with the DOL. Tune in to find out more!
#22: Cash is King with Daniel Batten
Join us for the latest episode of Q&A Over Coffee, featuring commercial banker and financial expert Daniel Batten. Daniel brings extensive experience in aiding businesses with financial management and understanding financial statements. In this episode, we’ll emphasize the significance of cash flow for businesses—a crucial factor in assessing debt repayment ability and ensuring long-term financial health. Tune in to discover tips from Daniel on maintaining healthy cash flow and securing the future of your business.
#21: Common Tax Season Scams with Lisa Dunnigan & Mike Breza
In this latest episode, and in the spirit of tax season, we wanted to share some common scams you might encounter during the tax season. We are joined by Tax Principal Mike Breza and our CIO Lisa Dunnigan to share stories they’ve heard, or seen firsthand about different tax-related scams. Many involve a phone call from the IRS, text messages, and more. Americans have lost billions to these scams which could jeopardize your finances. Find out from our professionals some red flags you can look out for and how you can take action if you become a victim.
Lisa’s article on identity theft scams: Here
#20: Legislative Insights for CPAs and Taxpayers
In our twentieth episode of Q&A Over Coffee, we have the Government Relations Director from MNCPA Geno Fragnito to talk about the new legislative changes for CPAs. Geno’s role allows him to have direct contact with State Government officials on behalf of the CPA profession. Geno shares with us how tax laws can impact CPAs as well as tax payers as a response. We also discuss any major tax law changes as well as how CPA firms can better prepare for future legislative changes. For more information, we recommend visiting the MNCPA website and looking into CPA Day at the Capitol.
#19: Roundtable: Readying Your Business for Sale
Welcome back to yet another roundtable talk with our three hosts! In this episode, we talk about what steps a business should consider when selling their business. Business sales are long and arduous processes that require a lot of insight. Carefully looking at your financial statements, seeing if your business is growing or not, and doing this process multiple times each year really helps get the ball rolling and allowing for a transaction to take place. We discuss much more in regards to selling your business in our third episode covering Exit Planning with Randy Krivo.
Manufacturing Special pt. 2: The State of Manufacturing® Survey Results with Bob Kill
In part two of our Manufacturing Special, the President & CEO of Enterprise Manufacturing, Bob Kill hops into the spotlight for his thoughts on the State of Manufacturing® results. The biggest challenges facing manufacturers in the last year came to light and organizations like Enterprise Minnesota step up to help alleviate any concerns manufacturers might have now, or in the future.
Manufacturing Special pt. 1: Olsen Thielen LIVE at The State of Manufacturing®
Olsen Thielen is a proud Platinum Sponsor of Enterprise Minnesota. On November 9th, Olsen Thielen attended the State of Manufacturing® Rollout event. We went on the road for this event, set up our podcast equipment and grabbed attendees for some on the spot interviews! We got insight from folks throughout the manufacturing industry on what they expected to see from the survey results.
#13: Tax Planning Strategies for the Next Year with Charlie Sparks
In our latest episode, our Tax Director, Charlie Sparks, shares his top tax planning strategies for the upcoming year. With just two months remaining in the current year, Charlie recommends that it’s the perfect moment to kickstart your tax planning, especially if you’re a business owner. From important tax law adjustments to potential tax credits, deductions, and various opportunities for individuals and businesses to maximize their returns, there’s a lot to consider this season. Our team of experts is here to ensure that no valuable details are missed as we assist you in preparing for next year’s tax planning.
#12: Cyber Security Scorecard: Knowing your Risks with Lisa Dunnigan
In our 12th episode, we recognize Cyber Security Awareness Month by joining Lisa Dunnigan, our Chief Technology Officer and Principal. She sheds light on the crucial topic of cybersecurity and shares insights on how companies and organizations can safeguard themselves against fraud via email and other channels. Lisa’s scorecard includes assessing an organization’s risk factors, evaluating backup practices, monitoring emails, and ensuring the effectiveness of server firewalls, among other essential aspects.
#11: Roundtable: Reviewing Financial Statements
In this special episode of Q&A Over Coffee, we are joined by all three of our hosts, Adam Hennen, Daniel Owens, and Tom Pesch to go over best practices in reviewing your business’s financial statements. With helpful, foundational analogies, we share why businesses need to take a closer look at their financial statements past, present, and future, to determine what direction the business is heading and if you need to identify any key performance indicators.
#09: Real Estate Investments with Greg Nelson
In this episode of Q&A Over Coffee, we sit with our Tax Principal Greg Nelson. Greg has many years of experience in Olsen Thielen’s Construction/Real Estate field and has continued to help grow this industry for the firm. Greg tells us about how investing in real estate can be extremely rewarding, but a lot of work. There are a lot of things to consider when investing in real estate including maintaining the property, renting, tax traps, and more!
#08: Understanding Your 990s with Ryan Vettrus
In this episode of Q&A Over Coffee, we sit with Ryan Vettrus, our Tax Director with expertise spanning diverse industries, including the Not-For-Profit sector. One of Ryan’s key responsibilities as a Tax Director is to support Not-For-Profit Clients in the process of filing their annual 990 form. But what exactly is the structure of the 990 form? What kind of information is required to complete it? Interestingly, an organization can leverage its 990 form as an effective public relations tool in various ways, benefiting both its members and the general public. Find out how it can help you and your organization!
#06: SECURE Act 2.0: What it Means for Your Retirement with Blake Faust
For episode six of our podcast, we discuss the widely popular topic of SECURE Act 2.0 with Blake Faust, Director of Retirement at Abbey Street. Blake shares with us what the next phase of the SECURE Act involves and what it means for businesses and individuals when it comes to planning for retirement. For additional resources involving the SECURE Act 2.0, check out our articles where we cover specific provisions for both Individuals as well as Employers.
#05: Mergers & Acquisitions with Byron Wieberdink
In our fifth installment of Q&A Over Coffee, we are joined by Byron Wieberdink, CFO of Omni Workspace International in Minneapolis. Together, with Olsen Thielen’s Tax Principal Matt Klein, we dive into Mergers & Acquisitions. We cover the financial implications, market value, and resources you can find to help move the M&A process along.
#04: Company Structure with Scott Hoyles
In this episode, we discuss the various types of entities with our very own Tax Principal, Scott Hoyles: Sole Proprietorships vs. Partnerships and S Corps vs. C Corps. These diverse and extensive entity structures are crucial to comprehend when starting a business, and Scott assists us in analyzing each one and explaining their significance.
Additional Episodes:
#01: Managing Your Business Through Uncertainty with Doug Loon
#02: Accelerated Depreciation with Zach Deo
#03: I Want Out: Planning Your Exit with Randy Krivo
#07: Trusts and Estates with Zach Wiegand
#10: How Much Is My Business Worth with Tony Oman
#14: Minnesota Employment Law Changes with Natolie Hochhausen
#15: Choosing The Right Accounting Software with Steve Iverson & Becky Halvorson
#16: Employee Retention Credit (ERC) with Magen Koepp
#17: Beneficial Ownership Information with Randy Sparling
#18: Passthrough Entity Tax with Zach Deo
#21: Common Tax Season Scams with Lisa Dunnigan & Mike Breza
#23: Assessing Financial Well-Being for Businesses with Julie Walker
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Note that the Q&A Over Coffee Podcast is provided for informational purposes only and is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.