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Innovative Ideas.

Successful Clients.

The Scheffel Boyle Blog

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Keep up to date with Scheffel Boyle news,
events, and important tax updates.

Keep up to date with Scheffel Boyle news,
events, and important tax updates.

The Scheffel Boyle Blog

We’re more than number crunchers. We are innovative, forward-thinking CPAs on a mission to improve your financial performance.

From the Scheffel Boyle Blog

Stay up-to-date with changes in the accounting world by visiting the Scheffel Boyle blog or by signing up for our monthly e-newsletter. Both will feature articles that focus on tax, accounting, and financial news for a variety of clients and industries.

IRS CLARIFIES TIMING ON NO DEDUCTIBILITY OF EXPENSES PAID WITH PPP FUNDS

The IRS yesterday released Revenue Ruling 2020-27 to clarify…

SBA Simplifies PPP Forgiveness for Loans Under $50,000

On October 8th, the Treasury and U.S. Small Business Administration…

Announcing 2020 Promotions!

We are pleased to announce the recent promotion of 10 professionals…

Lenders Are Not Required to Report PPP Loan Forgiveness to IRS

On Tuesday, September 22nd, the IRS released Announcement 2020-12,…

Proudly Introducing…

We are pleased to introduce our two newest employees to our amazing…

IRS to Stop Sending Past Due Notices Due to Backlog of Unopened Mail

The Internal Revenue Service is one of many agencies still feeling…

Madison County CARES Act Relief Provides Funds for Local Businesses

Madison County will open an application process on Monday, August…

Trump Signs Executive Order Deferring Payroll Taxes

On August 8th, President Trump signed a total of four Executive…

Welcome to the Team!

We are excited to announce that we have added six new staff accountants…

SBA Will Start Accepting PPP Forgiveness Applications From Lenders on August 10, 2020

The Small Business Administration (SBA) has set a date of August…

Watch Out for Illinois Department of Employment Security Scams

A warning has been issued to Illinois residents regarding unemployment…

IRS Updates FAQs on CARES Act Employee Retention Credits and Payroll Tax Deferrals

The IRS recently updated its frequently asked questions (FAQs)…

PPP Loan Application Deadline Extended 5 Weeks

With roughly $129 billion in PPP loans still available, an extension…

Keep Your Stimulus Payment Notice for Your 2020 Taxes

In mid-April, Economic Impact Payments, also known as Stimulus…

Scheffel Boyle Ranks 11th on St. Louis’ Largest Accounting Firms List

Scheffel Boyle has ranked #11 for number of professionals on…

PPP Loan Forgiveness Application Updated for the Flexibility Act

On June 16th, the SBA and Treasury released the revised PPP Loan…

Main Street Lending Program Expansion

On June 8, the Federal Reserve released revised term sheets for…

COVID-19 FAQs for Financial Institutions

The COVID-19 pandemic has caused widespread disruption to business…

President Trump Signs Bill Offering Flexibility on PPP Loan Forgiveness Into Law

Today, June 5th, President Trump signed the Paycheck Protection…

IRS Increases Flexibility for Code Section 125 Cafeteria Plans Due to COVID-19

To assist with the U.S. response to the 2019 novel coronavirus…

Have You Considered the Employee Retention Credit?

If you did not receive a Paycheck Protection Program loan, you…

Senate Passes PPP Bill Offering Flexibility on Forgiveness Guidelines

On Wednesday, June 3rd, the Senate passed the Paycheck Protection…

We have a new CPA!

We'd like to wish a big CONGRATULATIONS to Alex Hoffmann from…

Paycheck Protection Program Flexibility Act of 2020 Passed in the House

On Thursday, May 28th, the House passed a bill with large bipartisan…

PPP Loan Forgiveness Application and Instructions Update

On May 15th, the SBA released the PPP Loan Forgiveness Application…

Impact of the CARES Act on Financial Institutions and Specialty Finance Entities

The Coronavirus Aid, Relief, and Economic Security (CARES) Act,…

Scheffel Boyle Partners with AGCI for Webinar: PPP Loans, Tax Update, and More

We are proud to partner with the Association General Contractors…

Scheffel Boyle Partners with STL Agribusiness Club for Webinar

We are proud to partner with the St. Louis Agribusiness Club…

Scheffel Boyle Partners with SIBA for Webinar: PPP Loans, Tax Update, and More

We are proud to partner with Southern Illinois Builders Association…

FREE WEBINAR: Status of PPP Loans, Tax Credits & Deferrals, and SBA Loan Programs

Join us as our team shares their knowledge and expertise on the…

What Should You Do To Return a Stimulus Payment?

The Treasury Department announced today that stimulus checks…

IRS Notice 2020-32 & PPP Loan Updates

IRS Disallows Tax Deductions for Eligible PPP Expenditures On…

PPP Loans and the Self-Employed: Schedule C and Schedule F

SBA issued an Interim Final Rule regarding the Paycheck Protection…

How to Check the Status of Your Stimulus Check

Stimulus checks have begun hitting bank accounts. While some…

IRS Extends More Tax Deadlines to Cover Individuals, Trusts, Estates, Corporations, and More

The IRS recently announced more extensions in response to the…

COVID-19 Business Relief Analysis

Within weeks, several new laws and programs offering Coronavirus…

SBA Paycheck Protection Program Offers Coronavirus Relief

The Paycheck Protection Program (PPP) is part of “The Coronavirus…

President Trump Signs the CARES Act, Sending $2.2 Trillion for Coronavirus Relief

On March 27th, 2020, President Trump signed into law the Coronavirus…

State of Illinois Extends Income Tax Filing & Payment Deadline

Governor Pritzker announced today, March 25th, that the State…

Illinois Has Not Announced Any Extended Due Dates; Federal, Missouri and Other States Have Extended Tax Deadlines

State Updates In a press release dated March 21st, 2020, Missouri…

How to Provide COVID-19 Tax-Free Disaster Payments to Your Employees

Employers are scrambling to find ways to help their employees…

Families First Coronavirus Response Act

The Families First Coronavirus Response Act, (H.R. 6201), became…

An Update From Our Team

Dear Clients and Friends, We wanted to provide you with this…

Tax Filing Deadline Extended to July 15th

Treasury Secretary Steve Mnuchin announced today that the U.S.…

Treasury Secretary Announces 90-Day Delay in Tax Payment Deadline

Treasury Secretary Steven Mnuchin announced this week that taxpayers…

A Message From Our Team

Dear Clients and Friends, As our firm continues to monitor…

The 2019 Gift Tax Return Deadline is Almost Here

Most people have April 15th burned in their minds as the…

Raising Financially Responsible Kids

If you help your kids understand money when they’re young,…

Is the Family and Medical Leave Act Credit Right for Your Business?

The Tax Cuts and Jobs Act (TCJA) created a new tax credit…

Gig Workers, Know Your Tax Responsibility

Let’s say you drive for a ride-sharing app, deliver…

The SECURE Act and What it Could Mean For You

On December 20, 2019, President Trump signed the SECURE Act into…

Own a Pass-Through Entity? Beware the Ides of March

“Beware the Ides of March.” Shakespeare’s words don’t…

Accounting for the Near and the Long Term in a Family Budget

A wise person once said, “Simplicity is the key to a…

Careful Tax Planning Required for Incentive Stock Options

Incentive stock options (ISOs) are a popular form of compensation…

The TCJA Effect: Qualified Residence Interest

The Tax Cuts and Jobs Act (TCJA) made a significant impact…

Proudly Introducing our FOCUS Intern Class of 2020

We recently welcomed 12 Senior FOCUS Interns to our team! The…

Welcome Wagon!

We are proud to officially introduce our new Staff Accountants:…

Illinois Minimum Wage Law – In a Nutshell

Illinois workers rung in the New Year with an hourly raise. In…

Well Wishes & Congratulations

We'd like to take a moment to recognize two members of our team…

Extended Tax Season Hours Begin January 15th

To better accommodate our clients, we extend our office hours…

Dennis Ulrich & Jeff Westerhold Honored by Rotary International

Managing Principal Dennis Ulrich and Scheffel Financial Services,…

Signed, Sealed, & Delivered!

We are excited to announce that our care packages for the troops…

Do You Know Your Tax Bracket?

Although the Tax Cuts and Jobs Act (TCJA) generally reduced…

Mark Your Calendars!

With a new year, comes new deadlines to keep in mind. Mark…

Every Business Owner Needs an Exit Strategy

As a business owner, you have to keep your eye on your…

What to do About Fraudulent Credit or Debit Card Charges

It’s an awful feeling to learn that someone has used…

Determining an Employee’s “Home” for Reimbursement Purposes

Despite the prevalence of Web-based meetings, many of today’s…

Pump the Breaks Before Donating that Vehicle to Charity

Many people might consider donating their vehicles to charity…

Five Last-Minute Tax Moves for Your Business

The days of the calendar year are vanishing quickly,…

Year-End Tax and Financial To-Do List for Individuals

With the dawn of 2020 on the near horizon, here’s a quick…

Holiday Hours

Our offices will be closed on Wednesday, December 25th for Christmas…

Asset Protection is Just as Important as Tax Planning

Like many financially savvy individuals, you’re probably…

Business Owners, Your Bad Debts May be Deductible

If you hold a business-related debt that’s become worthless…

Living the Dream of Early Retirement

Many people dream of retiring early so they can pursue…

Making Gifts to Loved Ones? Don’t Forget Tax Planning!

Many people want to pass assets to the next generation…

Making Charitable Donations Out of IRA RMD

With the new higher standard deductions, it has become difficult…

Act Now to Save 2019 Taxes on Your Investments

Do you have investments outside of tax-advantaged retirement…

Illinois’ Tax Amnesty Programs Run From October 1 to November 15, 2019

Illinois has enacted two tax amnesty laws - one covering taxes…

Friends Trivia for the Troops

Could we BE more excited?! What could be better than a night…

Robyn Klingler Featured as a “Top Employee”

We are excited to share that Robyn Klingler, CPA has been featured…

Mortgage Matters: To Pay Down or Not to Pay Down

If you’re a homeowner and manage your finances well,…

Cost Segregation Studies Can Benefit Business Owners

Any business owner who’s acquired, constructed or substantially…

We have a new CPA!

We'd like to wish a big CONGRATULATIONS to Lauren Nettles from…

Look Out for These Upcoming Tax Deadlines!

October 15 — Personal federal income tax returns for…

Is “Bunching” Medical Expenses Still Feasible in 2019?

Some medical expenses may be tax deductible, but only…

Step Carefully with Loans Between a Business and its Owner

It’s common for owners of closely held businesses to…

Four Types of Information You Need to Prepare For Disaster

When you read the phrase “disaster prep,” you may envision…

How Businesses Can Assess Risk of Worker Misclassification

Classifying a worker as an independent contractor frees…

Jeff Westerhold a Finalist on “Best Wealth Managers in St. Louis” List

St. Louis Small Business Monthly (SBM) recently announced Jeff…

Double Up On Tax Benefits by Donating Appreciated Artwork

From a tax perspective, appreciated artwork can make…

The Tax Cost of Divorce Has Risen for Many

Are you divorced or in the process of divorcing? If so,…

Welcome Wagon!

We are excited to introduce six new members of our growing team.…

Mark Korte Featured as a 2019 Top Accountant

Mark Korte, CPA, CCIFP was recently featured in the August issue…

Best Places to Work in Southwestern Illinois

  Scheffel Boyle has been nominated as a finalist…

Proudly Announcing our 2019 Promotions

We are excited to share that a total of 25 professionals were…

Josh Andres Promoted to Principal

We are excited to announce the recent promotion of Josh Andres,…

Planning for the Net Investment Income Tax

Despite its name, the Tax Cuts and Jobs Act (TCJA) didn’t…

What Every Teacher Should Know About Their Usual Tax Break

When teachers are setting up their classrooms for the new…

Tax Document Retention Guidelines for Small Businesses

You may have breathed a sigh of relief after filing your…

Consider the Flexibility of a Self-Directed IRA

Traditional and Roth IRAs can be relatively “safe”…

Industry-Specific Accounting Services

We have extensive, in-depth expertise in specific industries. We understand the regulations and challenges that can affect your business and tax liability, and are able to provide a financial strategy specifically tailored to your needs and business model.

Construction Plans

Construction

Construction

We have over 100 combined years of construction accounting experience.

Financial Accounting Image

Financial Institutions

Financial Institutions

We have decades of experience serving community banks, thrifts, and credit unions.

Agribusiness

Agribusiness

We are passionate about serving the agribusiness community. As farmers ourselves, we understand your industry and the challenges you face.

Government Accounting

Governmental Entities

Governmental Entities

We have the expertise in serving local governments and agencies of all sizes.

Nonprofit Accounting

Non-Profit Organizations

Non-Profit Organizations

We enjoy working with non-profit and religious organizations to help them through financial challenges and improve their bottom line.

Privately-Held Businesses

Privately-Held Businesses

We help businesses across many industries overcome the financial roadblocks that can inhibit growth.

Employee Benefit Plans

Employee Benefit Plans

Most businesses quickly discover that creating a solid, structured employee benefits package is no simple task.

Individual Clients

Individual Clients

We take great care in helping our clients with their personal finances, and work as their advocate to help them reach their goals.

We work with our clients

We work in partnership with each of our clients, always looking out for their best interest. We don’t bring cookie-cutter processes to the table, because every business has its own circumstances and challenges. Even when we know your industry inside and out, we also know your specific business is unique. It’s our job to apply our expertise in accounting and finance to the nuances of your business.

Service is Everything

We are highly proactive in serving our clients. We believe service is respect. We never leave clients hanging, or let questions go unanswered. We know your time is valuable, and your needs are important. When you work with our team of professionals, you will know we respect your business and care about its success.

How can we help your business?

Scheffel Boyle Services

At Scheffel Boyle, we provide a full range of accounting, auditing, consulting, and tax services. Additionally, our strategic relationship with Scheffel Financial Services, Inc. helps our clients build and manage their wealth.  Our innovative solutions are delivered with the goal of making your personal and business objectives become reality.

Tax Planning & Preparation

Audit & Assurance

Accounting

Consulting

Financial Advisory

Scheffel Boyle Services

At Scheffel Boyle, we provide a full range of accounting, auditing, consulting, and tax services. Additionally, our strategic relationship with Scheffel Financial Services, Inc. helps our clients build and manage their wealth.  Our innovative solutions are delivered with the goal of making your personal and business objectives become reality.

Tax Planning & Preparation

Audit & Assurance

Accounting

Consulting

Financial Advisory

Tax Planning & Preparation

We prepare all types of corporate, trust, personal, estate, non-profit and partnership tax returns and constantly monitor tax law changes to advise you about tax saving strategies that can be applied to your particular situation. We are on top of the Tax Cuts and Jobs Act, and we can help you navigate its complexities. Learn More »

Audit IconAudit & Assurance

We use highly innovative methods and the latest software technologies to evaluate your accounting processes, internal controls, and business practices. Our team will help you effectively use financial statements to better manage your business and remain in compliance with your industry. Learn More »

Accounting IconAccounting

Our team can handle your accounting on an as-needed or an ongoing basis. We put strategy to numbers and work with you to more effectively manage your finances and meet your business goals. Learn More »

Consulting

We provide ideas and insights to increase your profitability and accomplish your short and long-term goals. Our team has in-depth experience in helping a variety of clients through major business decisions. Learn More »

Financial Advisor IconFinancial Advisory

As an independent firm, we are not focused on selling proprietary products or meeting quotas. Whether you are expanding your family, growing your business, or preparing for retirement, our objective approach allows us to serve you with your best interest in mind. Wherever you are in life, we seek to serve as your key advisor for financial guidance. Learn More »

Scheffel Boyle Memberships & Associations

What Our Clients Say

“Scheffel Boyle’s ability to handle multiple complex tasks combined with an outstanding work ethic ensures that our association’s financial matters are handled professionally and quickly. SIBA is impressed with their efficient service, and their business insight and acumen. We consider them to be invaluable members of the SIBA team.”

“The accounting and consulting services we have received from Scheffel Boyle have surpassed the credit union’s expectations. Their staff is very professional and easy to work with. I can count on Scheffel Boyle to support us in meeting our accounting needs. I have worked with The Scheffel Companies for 30+ years and would recommend them to any organization needing an accounting and consulting firm.”

“Madison Telephone Company and its affiliates have grown significantly over the past few years. The Principals and staff at Scheffel really know our business and provide services that address our unique challenges to help us reach our goals. They are an extended part of our organization and we know that they are with us every step of the way!”

“The best decision we ever made as a second generation family management team at Clinton Electric, Inc. was to hire Scheffel Boyle in Highland to conduct our annual financial audit. Their expertise in matters related to the construction industry has guided us in the right direction as we have made major decisions in regard to financial accounting and tax matters. The Scheffel Boyle team that we work with has become a vital part of our operation.”

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