In This Issue

Did you know?

SDK welcomes

Repair Regulations

Need help with Quickbooks?

SDK Quarterly Roundtable Series

SDK Jeopardy

5 Steps to Reduce Small Business Fraud

Did you know?

SDK can assist you with your retirement plan needs. We provide third party administration and consulting services for retirement plans.

Do you know if your plan is in compliance? For more information regarding our plan administration and consulting services, contact Nicole Brown or Valorie Mussehl.

SDK welcomes two seasonal members to the tax team

Chris Head

Matt Sobieski

We are also thrilled to have longtime SDKer Sue Byrnes back for tax season.

Repair Regulations - a must for your to-do list

If your business has depreciable assets you have undoubtedly heard about the new repair regulations. What you might not have heard is that your business must comply with the regulations by the 2014 tax return deadline or there may be adverse consequences. The regulations cover numerous topics relating to tangible property, including materials and supplies, repairs and maintenance, disposition rules, de minimis capitalization thresholds, to name a few.

How do you comply? Why is it important to comply by the 2014 tax year?

Read the answers here

For more information, check out Ryan Churness' presentation at our annual Tax Update

Need help with Quickbooks?
SDK can help!

Quickbooks is a very beneficial tool, and it's important to understand the software. Our Accounting Services department is very knowledgeable in Quickbooks and can answer questions that you may have! We also have two Advanced Pro QuickBooks certified advisors, Michele Jensrud and Jennifer Stavish, who can provide installation assistance and training so you can fully utilize Quickbooks.

SDK's February Newsletter

Perhaps the conversation around your water cooler is the same as ours - we should go out for a nice Valentine dinner, but - the crowds, the long wait, the higher prices make it less than ideal. What to do? How about waiting a week?

Mpls St Paul magazine is once again sponsoring Restaurant Week, on February 22-27. Participating restaurants (there are 49) will serve two course lunches for $10-$20 and three-course dinners for $15-$30 (beverage, tax and gratuity not included). Tell them your accountant sent you!

SDK Quarterly Roundtable Series

Ten Finance Questions Board Members

are Afraid to Ask

Wednesday, March 25

3:00-5:00 pm

The Depot Minneapolis
Whether you run a nonprofit or sit on a nonprofit board, our March Quarterly Roundtable Series is one you will want to attend. Our presenters will share easy to understand explanations of fiduciary responsibilities that are applicable to all board members.
This presentation is a reprise of a session done at the 2014 Minnesota Council of Nonprofits Annual Conference. Presenters: Kris Kewitsch, executive director, Charities Review Council; Teresa McAlpine, senior manager, Schechter Dokken Kanter CPAs; and Emily Robertson, attorney, Robertson Law Office, LLC.

Click here for more information and registration

SDK Jeopardy

The answer:
Two women, six men.

The question?

How many new employees are there in the halls of SDK? In January, SDK welcomed eight new hires: Jim Geissler, Matt Schreiner, Andriy Sydorenko, John Kraus, Skye Kanne, Nick Jirele, David Privratsky and Cassandra Dulon

5 Steps to Reduce Small Business Fraud

Small businesses face a unique set of challenges when it comes to preventing and detecting fraud. The best way to protect your business from fraud is to be proactive. If you are a small business owner, here are a few simple steps you can take to reduce the chances of experiencing fraud.

Conduct background checks on all employees.
Implement a written code of ethics.
Divide bookkeeping and check-signing authority.
Deliver bank statements - unopened - to top management.
Implement a reporting mechanism or hotline.

To learn more, watch this short video presented by the Association of Certified Fraud Examiners. Contact Jennifer Schiefert, of SDK's Forensic Accounting and Valuation Services team with questions.

We welcome your comments and feedback, and will do our best to answer your questions. Contact your SDK representative or send a note to one of us and we'll be sure to find the right person to assist you.

SDK's Editorial Board

Emma All Runner, Accounting Services

Beth Johnson, Marketing

Ron Kelner, CPA, Tax
John Lawson, CPA, Audit

Allison McCloskey, Tax

Valorie Mussehl, CPA, Employee Benefits

Jennifer Schiefert, CPA/ABV/CFF, CFE, Forensic & Valuation Services