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QuickBooks ProAdvisors
 
Have QuickBooks Questions? Get Answers. Call one of the KTLLP ProAdvisors today.
  
Carol Haivala
Angie Townsend
Kim Logsdon
Kia Smith, CPA
Louanne Keohane, CPA
Doug Cahoy, CPA
Carol Duvall  

605-342-5630
Happy Retirement Wishes to
Fred Krush

We want to wish Fred Krush all the best in retirement. We will all miss having him around!

 

Fred joined Ketel Thorstenson, LLP in November of 2005. Previously, he served as the Director of General Services for McGladrey & Pullen in Rapid City. With experience in financial reporting, tax compliance, and tax planning, Fred has served 47 years as a CPA.
 

Fred plans to fill his days with plenty of fishing, hunting and time with grandkids. Enjoy Fred, you have earned it.

 
Be Aware of IRS Scams

Your telephone rings and upon answering, you hear, "This is Joe from the IRS.  You have an outstanding balance on your taxes that must be paid within 3 hours or we will send the sheriff to your residence."

 

We have heard this from several clients in the past year.  There has been a lot of coverage on the news about this too, yet we continue to hear occasionally of someone who gets worried or believes they might really be in trouble and does send money.

 

Please know, the IRS will not contact you by phone, or even email.  You will always receive a letter, in fact several letters usually, before anything even remotely close to this would happen.  This is a scam, and if you try to call back the number, you will not get an answer.  They are even leaving messages on voicemails and then following up with more calls later. 

 

If you have any questions or concerns about the IRS or receive any written correspondence from them, please ask your Ketel Thorstenson, LLP professional for assistance.  As your Friends for Life, we urge you to not fall for phone or email scams, and to always ask us before you send money to anything like this.

 

 

Dear Friends,

 

Tax season is behind us and summer is in full swing! It is time for your mid-year review. We are happy to make suggestions to help keep you on track for the rest of 2015, and make tax season easier for next year. Check out the note from our managing partner, Denise, and the tune-up article from Kevin.

We hope you enjoy this edition of our KT newsletter. Our goal is to provide useful and relative information to our clients, advisors, and friends. The KTLLP team is here to help with any questions, don't hesitate to call on us.   

Friends for Life. 

KT Addition 
SUMMER NEWSLETTER 2015

A Note from the Managing Partner 

by Denise Webster, CPA, PFS, Managing Partner


Thank you to all our clients for enduring another tax season with us!  Even though you might not like the task of filing tax returns and gathering the tax documents together, we do enjoy digging into the details so we can not only report it properly to the IRS, but also be creative to come to the lowest tax possible.  The best part of our business is seeing and talking with you again; relationships are so important.
  

 

Reimbursing for Health Insurance

by Nina Braun, CPA, CFE, Partner


Prior to the final Affordable Care Act (ACA) regulations, it wasn't uncommon for employers to reimburse employees for health insurance if the employee was insured elsewhere.  Employers treated it as a benefit if they did not offer health insurance or it was used to encourage employees to find insurance elsewhere.


New Partner Named at Ketel Thorstenson, LLP 

 

Ketel Thorstenson, LLP announces the addition of a new Partner, Traci Hanson, CPA, effective July 1, 2015. Hanson joined the firm in June 2001, specializing in the areas of governmental agencies, schools, municipalities, rural electric cooperatives and non-profit organizations.  She serves both for-profit businesses and non-profit organizations through the Audit Services Department. Her responsibilities include: governmental accounting and auditing standards research and implementation, governmental and non-profit accounting assistance, pre-audit services, internal control studies, preparation of governmental financial statements, and Form 990 preparation.


Hanson is a Junior Achievement volunteer.  She is also a member of the South Dakota CPA Society and the American Institute of CPAs. Hanson graduated Summa Cum Laude with a Bachelor of Science Degree in Accounting and Business Administration from Black Hills State University.

 

Does Your Business Need A Post-Tax Season Tune-Up?   

by Kevin Sickels, CPA, Partner
 

With the tax return filing deadlines behind us, this is an ideal time to think about giving your business a post-tax season tune-up.  This will make the next tax return filing season easier and may improve your financial situation.  

Click here to see the key areas to consider analyzing:
 

  

What is Driving the Value of My Business?
by Ericka Heiser, MBA, CVA, Manager

 

As a business owner, it is important to consider the forces that drive the value of your business up (or down).  Exploring these factors will help you focus on doing more of the good things that will allow your business value to grow in the right direction! 

 

One factor is COMPETITIVE ADVANTAGE


to continue reading click here 

 

QuickBooks Online vs. QuickBooks Desktop

What's the Difference?

by Kia Smith, CPA, Associate, QuickBooks ProAdvisor 

The hot topic buzzing around our office is the difference between QuickBooks Online and QuickBooks Desktop.  It has people asking, "Which one is right for me?"

 
It can be challenging trying to find the right software. Each one has its benefits and drawbacks compared to the other one.


click here to view the key comparative aspects

 

Make Their Day
by Amanda Dokter, PHR, SHRM-CP, Human Resources Manager

When I was a sophomore in college I had a terrible toothache.  It was one week before Thanksgiving, I was 600 miles from my dentist, and the pain was getting worse.  I found a local dentist who could fit me in for a quick exam.  The results, I needed a root canal.  Considering I was heading home in less than a week for break, I contacted my dentist.  Bad news, he was heading out of town for Thanksgiving and wouldn't be back till late Friday.  Plus, he had a full schedule on Saturday and I was heading back to school on Sunday.  It looked like he wasn't going to be able to fit me in.  However, he said he could make time for me on Friday evening if I was free.  So at 7:00 pm on the Friday after Thanksgiving my dentist performed the procedure.  He went above and beyond for me, cut his vacation short, and did the entire procedure by himself.  I will never forget this; it truly was a memorable experience.

 

The third principle in the FISH philosophy is, Make Their Day. 
 

to continue reading click here

 

The information in this email is being provided by Ketel Thorstenson, LLP for general purposes. It does not constitute legal, accounting, tax or other professional advice or services and is presented without any representation or warrranty. As always, consult a tax professional about your personal tax situation before taking any action.