Manufacturing / Distribution - Key Services

Our Core Specialties include:

Accounting, Financial Statements (Historical and Prospective) and Internal Control
And as one of the few CPA firms in the Twin Cities that still perform audits of both private and publicly held companies, our audit specialists are held to a higher standard of certification and training to help you maintain compliance and measurable internal controls.

Business Tax Planning
Our tax planning specialists are always watching for the latest IRS updates for manufacturers and distributors to proactively position your company for savings. We help you understand the tax implications of various business decisions before you decide, which makes us a trusted partner on any advisory board.

Multi-state and International Operations

Tax Compliance - Business Structures - Export - Pricing
Our manufacturing and distribution team is skilled in the structures and implications of multi-state and international transactions. We can advise on tax implications of new sales territories and growth in the global arena including employment issues, taxes, and transfer pricing analysis, among others. If you're ready to share your product with the world, we'll help you do it.

Profit Enhancement

Benchmarks - Cost Analysis - Inventory Management - Pricing
Olsen Thielen cares about your business. We look for ways to align sales incentives with your highest margin products, to establish effective benchmarks and balance reduced inventory levels with customers' demand for just-in-time delivery. We look for ways to improve supplier relationships that reduce cycle times while improving cash flow. And if you simply need a sounding board, we'll be there.

Mergers, Acquisitions and Sales

Due Diligence - Valuation - Tax Structures - Financials
Whether you are a buyer or seller, Olsen Thielen has advised on a variety of complex transactions and can help you coordinate services with your various transaction partners. We'll perform the due diligence to help you achieve the best results for your company, employees, and investors.

Contact Kelly Salwei at ksalwei@olsen-thielen.com or 952-829-3400 for more information on these services.

Some of the Hot Tax Issues that you should be aware of are:

R&D Credits
The Research and Development Credit has been a long-time benefit available to manufacturers. The R&D credit provides incentive for businesses that invest in products and activities that will provide process improvements. Recently the IRS has issued new rules that greatly enhance the use of the R&D credit, but in order to take advantage of these rules, you and your staff must be educated on what types of expenses qualify. Olsen Thielen can help you determine eligible activities and costs.

Domestic Production Activities Deduction
The most recent manufacturing incentive is the Domestic Production Activities Deduction, or "Manufacturing Deduction." Most manufacturers will be eligible for the deduction, which phases in at 3% and increases to 9% of income from domestic production. There are many rules and limitations to the deduction. Olsen Thielen can help you navigate through the regulations and steer you to the maximum deduction.

IC - DISC
Interest Charge Domestic International Sales Corporation may be a benefit to manufacturers that export their goods to foreign countries. The IC-DISC has been around for many years, but with recent changes in our tax laws relating to exports and tax rates, the IC-DISC has become an effective tax saving tool for manufacturers. Our experts at Olsen Thielen can help you save tax dollars with your exporting income.

Often tax strategies that look great overall may not be a good fit for your company. We can review your situation and make recommendations that fit your company the best. Contact Joe Mayer at jmayer@olsen-theilen.com or 651-415-9334 to discuss these tax strategies.