Shows
Q&A Over Coffee#38: Managing your Not For Profit During Uncertainty with Pat Powers and Dan OwensIn this episode, Olsen Thielen's Not For Profit practice leaders and Audit Principals Dan Owens and Pat Powers share proven strategies for managing nonprofit organizations during times of economic uncertainty. They discuss the biggest challenges facing nonprofits today, how recent changes in federal and state funding are impacting organizations, and practical budgeting recommendations for maintaining stability. The conversation also covers effective communication strategies for engaging with board members, staff, and donors during challenging periods, the importance of regular financial health assessments, and key metrics that deserve closer monitoring.2025-07-2334 minQ&A Over Coffee#37: The One Big Beautiful Bill Has Passed - Now What?With the recent passing of the "One Big Beautiful Bill" on July 4th, our team revisits the bill, the latest updates, common misconceptions we’ve been hearing, and the major takeaways for listeners. Join us as once again our host, Tom Pesch and Tax Principals Matt Klein and Charlie Sparks, break down these tax components of the bill and discuss how these changes are going to affect businesses and individual taxpayers. The content of this podcast is for informational purposes only. We encourage our listeners to consult with a qualified professional for advice tailored to their specific circumstances.2025-07-1135 minQ&A Over Coffee#36: Understanding the "One Big Beautiful Bill" with Matt Klein and Charlie SparksThis episode was recorded on Monday, June 16th, 2025. The “One Big Beautiful Bill” and related topics covered in this episode include discussions about legislative policies that are still in process. Our host, Tom Pesch, is joined by Tax Principals Matt Klein and Charlie Sparks to break down the tax components of the bill and discuss how these changes would affect businesses and individual taxpayers. The information provided in this podcast is for informational purposes only, and we encourage all listeners to continue to monitor the current status and inclusions of the bill as it progresses through legislation.2025-06-2031 minQ&A Over CoffeeFlights: Fraud pt. 4: Inventory and Asset FraudOur new series, Flights, will present complex topics in a concise, easy-to-digest format through a series of short episodes, providing clear and actionable insights. Our first topic is Fraud, which will be covered by our Certified Fraud Examiners Andrea Addo and Adam Hennen. In part four of our Flights: Fraud series, Adam and Andrea cover inventory and asset fraud. They cover several signs of inventory fraud beyond just discovering a missing item.2025-03-1013 minQ&A Over CoffeeFlights: Fraud pt. 3: Fraudulent Disbursements and Billing SchemesOur new series, Flights, will present complex topics in a concise, easy-to-digest format through a series of short episodes, providing clear and actionable insights. Our first topic is Fraud, which will be covered by our Certified Fraud Examiners Andrea Addo and Adam Hennen. In part three of our Flights: Fraud series, Adam and Andrea cover fraudulent disbursements and billing schemes. They provide numerous examples of these types of fraud and analyze how the perpetrators successfully executed them.2025-02-2513 minQ&A Over CoffeeFlights: Fraud pt. 2: Cash Theft with Andrea Addo and Adam HennenIn part two of our Flights: Fraud series, Adam and Andrea cover cash theft. They share several stories that showcase many angles of cash theft and how it can be caught and broken down. "Skimming" is cash theft on a transaction before it reaches the company. "Larsony" is when a sale is recorded but the cash get stolen afterward. If you haven't yet, check out part one on our Q&A Over Coffee page: Fraud 101.2025-02-2014 minQ&A Over CoffeeFlights: Fraud 101 with Andrea Addo and Adam HennenOur new series, Flights, will present complex topics in a concise, easy-to-digest format through a series of short episodes, providing clear and actionable insights. Our first topic is Fraud, which will be covered by our Certified Fraud Examiners Andrea Addo and Adam Hennen. For this first flight, we will go over the basics of Fraud. Who can commit fraud, what it looks like in smaller organizations, some warning signs to look out for, and more.2025-02-1214 minQ&A Over Coffee#35: Roundtable: Managing Your Business Through Economic UncertaintyThis 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.2025-01-2935 minQ&A Over Coffee#34: State Tax Residency with Zach Deo and Nikki BocockDo 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.2025-01-1532 minQ&A Over Coffee#13: Tax Planning Strategies for the Next Year with Charlie SparksIn 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.2024-11-1335 minQ&A Over Coffee#33: Preparing for the Year End Audit with John Krzyska and Shaun StachowskiFor 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...2024-10-0936 minQ&A Over Coffee#32: Employee Retention with Vanessa FoyIn 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.2024-09-1829 minQ&A Over Coffee#31: The Sunset of Current Tax Laws with Scott Hoyles and Joe MayerWith 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...2024-08-2132 minQ&A Over Coffee#30: My Accountant is Retiring with Magen KoeppIn 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 insi...2024-07-3134 minQ&A Over Coffee#29: Process Improvement with Dustin HostetlerIn 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.2024-07-3034 minQ&A Over Coffee#28: Selecting Your ERP Software with Dick KrocakJoin 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!2024-06-1236 minQ&A Over Coffee#27: Payroll Tax Issues with Jilayne Leary and Zach DeoIn 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.2024-05-2937 minQ&A Over Coffee#26: Working Effectively With Your CPA with Pat Powers#26: Working Effectively With Your CPA with Pat Powers by Olsen Thielen CPAs & Advisors2024-05-1534 minQ&A Over Coffee#25: Strategic Business Planning with Pat Hall#25: Strategic Business Planning with Pat Hall by Olsen Thielen CPAs & Advisors2024-05-0134 minQ&A Over Coffee#24 ERISA with Magen Koepp and Carrie SundbergA 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...2024-04-1724 minQ&A Over Coffee#23: Assessing Financial Well Being for Businesses with Julie WalkerJoin 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.2024-04-0336 minQ&A Over Coffee#22: Cash is King with Daniel BattenJoin 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.2024-03-2039 minQ&A Over Coffee#21: Common Tax Season Scams with Lisa Dunnigan & Mike BrezaIn 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.2024-03-0630 minQ&A Over Coffee#20: Legislative Changes for CPAs with Geno FragnitoIn 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...2024-02-2135 minQ&A Over Coffee#19: Roundtable: Readying Your Business for SaleWelcome 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.2024-02-0740 minQ&A Over Coffee#18: Passthrough Entitiy Tax with Zach DeoWe 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.2024-01-2434 minQ&A Over Coffee#17: Beneficial Ownership Information with Randy SparlingWelcome 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.2024-01-1037 minQ&A Over Coffee#16: Employee Retention Credit (ERC) with Magen KoeppHappy 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.2023-12-2730 minQ&A Over Coffee#15: Choosing The Right Accounting Software with Steve Iverson & Becky HalvorsonFor 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.2023-12-1333 minQ&A Over Coffee#14: Minnesota Employment Law Changes with Natolie HochhausenWe'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 2024.2023-11-2940 min
Q&A Over CoffeeManufacturing Special pt. 2: The State of Manufacturing Survey Results with Bob KillIn 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.2023-11-1535 min
Q&A Over CoffeeManufacturing Special pt. 1: Olsen Thielen LIVE at The State of ManufacturingOlsen 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.2023-11-1525 minQ&A Over Coffee#12: Cyber Security Scorecard: Know your RisksIn 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.2023-10-1137 minQ&A Over Coffee#11: Roundtable: Reviewing Financial StatementsIn 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 your financial statements past, present, and future, to determine what direction your business is heading and if you need to identify any key performance indicators.2023-09-2737 minQ&A Over Coffee#10: How Much is My Business Worth? With Tony OmanIn our tenth episode of Q&A Over Coffee, we're joined by Tony Oman, our Director of Business Valuation. He'll be discussing the significance of business valuation, its practical applications, and its importance. Tune in to gain insights into the intricate process of valuing a company, the blend of science and art involved, and its relevance to areas like real estate and even retirement planning for business owners.2023-09-1333 minQ&A Over Coffee#09: Real Estate Investments with Greg NelsonIn 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!2023-08-3031 minQ&A Over Coffee#08: Understanding Your 990s with Ryan VettrusIn 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!2023-08-1636 minQ&A Over Coffee#07: Trusts and Estates with Zach WiegandIn this episode of Q&A Over Coffee, we sit down with Attorney Zach Wiegand to discuss Trust and Estate Planning, along with our very own Tax Principal, Adam Thielen. Zach is the driving force behind Gold Leaf in Burnsville, Minnesota, and he brings a wealth of 12 years' experience working in estate planning, probates, and trust administration matters. During our discussion, Zach shares fascinating stories he's come across and offers practical tips and tricks to enhance the effectiveness of Estate planning.
Q&A Over Coffee Page: https://www.otcpas.com/qa_over_coffee/2023-08-0231 minQ&A Over Coffee#06: SECURE Act 2.0: What it Means for Your Retirement with Blake FaustFor 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 new Act involves and what it means for businesses and individuals when it comes to planning for retirement.2023-07-1938 minQ&A Over Coffee#05: Mergers & Acquisitions with Byron WieberdinkIn 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.2023-07-0535 minQ&A Over Coffee#04: Company Structure with Scott HoylesIn 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.2023-06-2335 minQ&A Over Coffee#03: I Want Out: Planning Your Exit with Randy KrivoWe discuss Exit Planning with Randy Krivo, Senior M&A Advisor at True North M&A and Business Broker at Sunbelt Business Advisors. We discuss reasons for selling, initial planning steps, the Exit Plan, the LOI or Letter of Intent, Business Valuation, and other considerations to keep in mind as you begin planning your exit.2023-06-0735 minQ&A Over Coffee#02: Accelerated Depreciation with Zach DeoThis week, we are joined by our very own Tax Director Zach Deo to discuss the Accelerated Depreciation method. We cover how it differs from a straight-line depreciation, what assets you can depreciate, benefits and trends of depreciation in different industries, tips on growing apple trees, and more!2023-05-2432 minQ&A Over Coffee#01: Managing Your Business Through Uncertainty with Doug LoonFor our very first episode of Q&A Over Coffee, we are joined by Doug Loon, President and CEO of the Minnesota Chamber of Commerce. We discuss uncertainty that is rising across many businesses in Minnesota and beyond. From post-pandemic patterns to bank failures, we talk about many ways we can overcome these uncertainties and continue to strengthen and grow our businesses.
Show notes: https://www.otcpas.com/managing-your-business-through-uncertainty-with-doug-loon/
Minnesota Chamber of Commerce: https://www.mnchamber.com/
Olsen Thielen Linktree: https://linktr.ee/olsenthielen2023-05-1032 min
Q&A Over CoffeeWelcome to Q&A Over Coffee Season 2Welcome to the Q&A Over Coffee Podcast, your go-to source for accounting advice and insights. You’ll hear from Adam Hennen, Daniel Owens, Tom Pesch, and Val Arndt as they bring you expert tips and strategies to help you manage your finances and business practices more effectively.
Join us, starting on May 10th, for our first episode of Q&A Over Coffee and get the accounting advice you need to take your financial business practices to the next level!2023-04-2801 min