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Karli Olsen, CPA is a proactive leader in tax and accounting advisory to create efficiencies, profitability, and optimized tax structure for businesses.
Recent Insights
Important Corporate Transparency Act Update
Reading Time: 2 minutesAs “luck” would have it, the Fifth circuit Court of Appeals issued a stay on the district court’s nationwide injunction against the Corporate Transparency Act (CTA). This stay reinstates the BOI reporting requirements. FinCEN responded by providing reporting extensions for most entities. Please refer to the FinCEN website to determine which deadline …
Stay Ahead in 2025: Compliance Updates Every Financial Institution Should Know About
Reading Time: 4 minutesAs financial institutions look ahead to 2025, there are several important compliance updates to be aware of which affect areas like Section 1071 of the Equal Credit Opportunity Act (ECOA), artificial intelligence, FDIC signage, and the Bank Secrecy Act (BSA). These updates will impact how institutions collect data, use …
Read moreStay Ahead in 2025: Compliance Updates Every Financial Institution Should Know About
Loans and Other Financial Assets Acquired with Credit Deterioration: CECL FAQ
Reading Time: 3 minutesWith the implementation of ASC 326, commonly known as CECL, there has been a significant focus on loan portfolios within financial institutions. However, attention also needs to be directed towards the acquisition of bulk loans from other institutions or through mergers and acquisitions, which are equally impacted by the new …
Read moreLoans and Other Financial Assets Acquired with Credit Deterioration: CECL FAQ
Navigating FMMO Changes: What Dairy Producers Need to Know
Reading Time: 3 minutesThe dust is still settling from the Presidential election, but if you are a dairy farmer, you have another weighty vote to cast. The proposed changes to the Federal Milk Marketing Order (FMMO), announced on November 12, 2024, are now up for consideration. All active dairy producers who had milk …
Read moreNavigating FMMO Changes: What Dairy Producers Need to Know
New Retroactive Wildfire Tax Relief: Action May Be Needed
Reading Time: 2 minutesOn December 12, 2024, President Biden signed the Federal Disaster Tax Relief Act of 2023. The law exempts from income tax qualified wildfire relief payments made to individuals. Prior to the Disaster Tax Relief Act, some payments to disaster victims – such as settlement payments from utility companies – were …
Read moreNew Retroactive Wildfire Tax Relief: Action May Be Needed
Best Practices for Business Owners in 2025 and Beyond
Reading Time: 2 minutesAs a business owner, you likely spend most of your days – and many of your nights – thinking about the daily operations of your business. Retaining customers, analyzing the competition, marketing services and products, tackling human resource issues…the list is endless. “It’s easy to get caught in the weeds …
Read moreBest Practices for Business Owners in 2025 and Beyond
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