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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
Is Your Business Cyber Safe?
Reading Time: 2 minutesToday, 25% of all crime is cyber-related. With the list of IT concerns ever growing and becoming more sophisticated with each day, an unprotected business is a sitting duck. It’s vital that all organizations practice basic cyber ‘hygiene’ and implement and follow best practices – your employees, customers, and business …
3 Ways Craft Brewers Can Navigate Industry Instability
Reading Time: 3 minutesThis past July, the oldest craft brewery in the U.S. announced it will be closing its doors as a result of continually declining sales. This stirs several contemplations for surviving breweries: How can craft brewers navigate this rocky landscape amongst shifting consumer preferences? How can they stay competitive in a …
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How to Safeguard Your Institution Through Internal Controls
Reading Time: 2 minutesThe primary purpose of internal controls is to safeguard an organization and further its objectives. Internal controls function to minimize risks and protect assets, ensure accuracy of records, promote operational efficiency, and encourage adherence to policies, rules, regulations, and laws. All institutions large or small, private, or public, should have some …
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CECL Adoption: What Financial Institutions Should Know
Reading Time: 2 minutesNow that banks are completing their third call report for the 2023 calendar year, we want to share some valuable insights and lessons learned as adoption of ASU 2016-13 (Current & Expected Credit Losses/CECL), is well underway. We have had the privilege of addressing numerous questions from clients now that …
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5 Things Every Co-op Should Do Before Year End
Reading Time: 3 minutesAs the calendar year draws to a close, many farm co-ops are also approaching their fiscal year-ends. As a co-op CEO, now is a good time to ensure you’ve taken all the necessary steps and checked all the boxes to prepare for the next year. “We anticipate that 2024 will …
FinCEN Reporting Deadline Alert: What Every Business Needs to Know
Reading Time: 2 minutesBeginning January 1, 2024, the Corporate Transparency Act requires all U.S.-based entities to report to the Financial Crimes Enforcement Network (FinCEN) detailed information about the entity and its key stakeholders – called “beneficial owners.” Any business with any legal entity (including single-member LLCs with minimal activity) will be impacted. Small …
Read moreFinCEN Reporting Deadline Alert: What Every Business Needs to Know
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