Q&A Over Coffee

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!

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.

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.

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.

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.

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!

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 by Olsen Thielen CPAs & Advisors

#25: Strategic Business Planning with Pat Hall by Olsen Thielen CPAs & Advisors

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!