Q&A Over Coffee

Join us for our newest episode of Q&A Over Coffee, featuring our Chief Operating Officer, Julie Walker. Julie wears multiple hats, collaborating with Olsen Thielen and various clients. Her role encompasses diverse tasks aimed at enhancing financial well-being. Discover how monitoring business health differs across industries, as Julie explores analytics tools for tracking cash flow and other vital metrics. Gain insights into interpreting financial statement ratios and actionable responses tailored to your business needs.

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.

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.

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 taxpayers 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.

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.

We welcome Back Tax Director Zach Deo for the very important discussion on the Minnesota Passthrough Entity Tax. Zach helps facilitate the mechanics on the tax, which are pretty straightforward - qualifying PTEs elect to calculate and pay the Minnesota tax liability due on the entity’s income instead of passing it through to be taxed at the individual owner level. But there's more to discuss of why it is important for businesses who qualify to elect this option. As well as who is eligible to sign off on the election.

Welcome to 2024! For our first episode of the year, we have commercial and estate attorney Randy Sparling from Felhaber Larson. Randy dives into the important topic of Beneficial Ownership and how to report BOI. There is information pertaining to many businesses that needs to be reported including Tax Payer ID Number, jurisdiction information, and more. We highly encourage reaching out to either your attorney or accounting professionals for more information. Randy and many of our professionals are happy to help businesses in Minnesota gain a better understanding of this new law.

Happy Holidays! With the New Year just around the corner, we wanted to bring on our own Audit Principal and Employee Benefit Plan Specialist Magen Koepp to talk about the Employee Retention Credit (ERC). The ERC is important to many businesses; many are eligible to claim it, but should also be aware of deadlines, fraud, and other significant guidelines that apply to the credit. Magen brings her expertise and offers suggestions and resources you can seek out to see if your business qualifies and what the best course of action would be.

For this episode, we reached out to two of our Business Accounting Solutions (BAS) Professionals Steve Iverson and Becky Halvorson to talk about Accounting Software. Most small businesses we work with use QuickBooks, but what about larger businesses? And how do they deal with things such as cyber security and ensuring ease of access to the Cloud? With so many to choose from, we have our professionals help break them down so that you can have a better understanding of what they can do to help you run your business.

We're back and so excited to have HR & Employment attorney from Fafinski, Mark, & Johnson Natolie Hochhausen on the Podcast. Natolie delves into various topics such as employee benefits, FMLA, non-compete agreements, and the recent legalization of marijuana and its implications in today's workplaces. For anyone in need of legal advice on these employment changes, we encourage you to connect with Natolie or seek guidance from other legal council. This information will empower both employees and employers to make informed business decisions as we step into 2024.