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As the first fall weather is upon us, it's a perfect time to take in the beautiful weather. If you won't be leaving town for the fall, not to worry! There is plenty to see and enjoy right in Minneapolis. Check out the "Parks and Destinations" portion of the Minneapolis park and recreation site for lots of ideas, right in town. And if you're nearby, stop in at 100 Washington, we'd love to see you!
Fight for family businesses!
So what to do? 
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Transferring a family business to the next generation can be very rewarding for everyone involved.  At the same time, there are challenges, including the possibility of substantial gift or estate taxes payable at the time of transfer.  Because of this, family businesses often utilize certain estate planning strategies involving valuation discounts to hand the business down to the next generation in a tax-efficient manner.  Now the IRS is seeking to limit or eliminate those strategies.

To understand, first we must back up to some of the basics of business valuation.  
Outsourcing your bookkeeping
Let SDK lighten your load
silver-keyboard.jpg Many small business owners excel in their craft, (isn't that why you love your small business?) but cringe at the idea of bookkeeping. Keeping accurate books is a vital function of a business but takes valuable time that could be spent growing your business. 

Well as luck would have it, bookkeeping is what our accounting services team excels at, and loves to do! Outsourcing your bookkeeping might just be a good decision for you at this point in the life of your business. It can free up your time and give you access to our trained staff. 

SDK also has a program in place to help you hire a bookkeeper, if you are in need of an on-site employee. Pam and the accounting services team has assisted many clients with accurate postings, review of resumes, and even initial screening interviews.

To start the conversation on your bookkeeping needs, contact Pam Brackeen.  
Fantasy football and big data
Every day is game day for your business

football-hands.jpgFootball season is gearing up and, as such, the fantasy drafts have started.  We all hit the internet, taking information from as many sources as possible in order to make sure that we make the best picks for our team to get that big return at the end.  'Big Data', or the large volume of data that is stored and used for eventual analysis, is emerging as a defining way we looking at decision-making.
Far from comparison to ESPN, most companies store and track enormous amounts of data, but often only use it for record keeping and as such, miss out on using the information to its full potential.  
A friendly October 15 deadline reminder
Which happens to be October 17
As the calendar turns from September to October, not only is fall upon us but the extended Personal (1040) tax deadline is quickly approaching. This year, October 15th falls on a Saturday, which means the due date goes to Monday October 17th.
 
A couple extra days is no reason to delay! Contact your SDK representative or any member of the SDK tax team with any questions, or information you may have ready to provide. 
Upcoming dates
Make a note on your calendar - more information coming soon
Fall is the time of year we at SDK like to offer programs and parties, learning and sharing, beer and brats. Registrations are not yet open, but here are the dates for our remaining 2016 program:

November 10      SDK's Roundtable - A case study of restaurants
October 25         SDK's Annual Oktoberfest
December 13      SDK's Annual Tax Roundtable
Happening at SDK
Our annual first day of school SDK KIDs photos
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
Kyle Bergs, Audit
Cassandra Dulon, CPA, Accounting Services
Cassandra Elgersma, CPA/ABV/CFF, CFE, Forensic & Valuation Services
Emily Engels, Accounting Services
Beth Johnson, Marketing
Dave Marrinson, CPA, Tax
Matt Schreiner, CPA, Tax
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