Howard Held Recognized as “Top Accountant”

St. Louis Small Business Monthly has recognized Howard Held, CPA as a “Top Accountant” in the St. Louis region for their annual feature. Each year the publication features top accountants from the St. Louis area as chosen by readers of the magazine. Howard was one of only 13 people recognized this year by the magazine.

Howard is a Manager in Scheffel Boyle’s Highland office and has been with the firm since 1983. He graduated from Bradley University in 1978 with his Bachelor’s Degree and has worked in public accounting ever since. His specialties include audit and tax services for governmental entities, nonprofit organizations, and the agricultural industry. Howard is extremely active in his local community and has volunteered countless hours of his own time toward a variety of causes, and has even won the Highland Chamber of Commerce’s “Person of the Year” award due to his community activism and professional dedication.

“I am very honored and touched for being selected for this award.  From my point of view, I don’t feel that I should be singled out as the recipient.  Whatever skills I have and whatever opportunities I have been given to utilize those skills are the direct result of Scheffel Boyle and my fellow employees. This award is proof of the cooperation and support that I have received from this professional team,” Howard said. “I have always taken pride in the completeness and quality of service given to clientele and that workman ethic, that I credit my parents for, is further enhanced by the firm.  It is part of the Scheffel Boyle way of doing things. And I would also like to thank any and all people who nominated and voted for me to win this award.  I hope they are reading this and that they know how special this is for me and I appreciate their efforts very much.”

Howard and the other dozen honorees will be featured in the August issue of St. Louis Small Business Monthly.

Bethalto Office Information

With Larry Rose’s retirement being official as of July 1, our Bethalto office has been consolidated throughout our other conveniently located offices. Please contact them by their information below for assistance. We apologize for any inconvenience this may cause our clients. We will do all we can to ensure this transition goes smoothly for everyone.

 

Alton Edwardsville Belleville
618.465.4288

322 State Street

 618.656.1206

143 N. Kansas St.

 618.233.2641

2810 Frank Scott Parkway W, Suites 704 & 812

Larry Rose Announces Retirement

Larry Rose, CPA, Principal in the Bethalto, IL office, has officially announced his plans to retire on June 30th of this year. Larry’s retirement will mark the end of his 40-year public accounting career.

Larry spent 40 years at Allison Knapp Siekmann, LTD before they joined with us in October of 2014. He is an active member of the American Institute of Certified Public Accountants (AICPA), Missouri CPA Society, Illinois CPA Society, and the Bethalto area Kiwanis club.

Larry is the Principal in charge of the Bethalto, IL office location. Along with Larry’s retirement, we will consolidate the Bethalto office location between our Alton, Edwardsville, and Belleville offices in order to provide a team-oriented service environment for Larry’s clients in his absence.

We are sad to see Larry leave the firm, but excited for him on this new journey is his life. If you’d like to wish Larry well, he can still be reached at the Bethalto location by calling 618.377.2171, or by emailing larry.rose@scheffelboyle.com.

Our Team is Growing!

We are please to announce the addition of some new professionals to our outstanding team!

Alton:

Tyler   Jackson, Staff Accountant

Christina   Wickenhauser, Staff Accountant

 Edwardsville:

Drew   Nicol, Staff Accountant

Cathlyne   Bassham, Administrative Assistant

 
Belleville:

Colleen   Horner, Staff Accountant

Brooke   Varner, Staff Accountant

 

 Highland:

Amber   Rode, Staff Accountant
Jerseyville:

Christine   Tonsor, Intern

 Columbia:

Casey   Pierce, Intern

 
Carrollton:

Justin   Goode, Staff Accountant

Henry Seikmann Accepts SIBA Award

Scheffel Boyle Principal Henry Siekmann, CPA recently accepted an award on behalf of his former firm Allison Knapp Siekmann (AKS) at the Southern Illinois Builders Association’s (SIBA) annual awards breakfast. This year would mark AKS’s 50th year of membership in SIBA and Siekmann was honored on behalf of the entire firm for its dedication to the association and many years of support to their organization.

SIBA, in conjunction with the Southern Illinois Construction Advancement Program (SICAP), annually recognizes those firms at the awards breakfast that have been members of the association for 50 years, those individuals that complete all five modules of the AGC Project Manager Development Program, and those firms that have demonstrated a commitment to safety excellence.

Siekmann is the former Managing Principal of the CPA firm Allison Knapp & Siekmann (AKS). When AKS joined with Scheffel Boyle in October of 2014, Siekmann and all of his AKS staff became part of the Scheffel Boyle team. He was also able to remain active in SIBA in his new position with the firm. Scheffel Boyle has been a member and supporter of SIBA for over 12 years and is a regular participant in the organization’s events and educational programs for contractor members.

“I’ve always seen value in our membership to SIBA and look forward to more years with the association,” Siekmann said. “When we joined with Scheffel Boyle in October, it was an easy transition for us because their team was already heavily involved with SIBA. It’s been a good fit for us all.”

SIBA was established in 1945 and currently represents over 500 construction companies throughout Southern Illinois. As the largest regional contractor association in Illinois, the association is focused on providing value to its members through networking opportunities, safety training, physical and online tracking of commercial projects out for bid, and continuing education, among others. For more information on SIBA and the benefits of joining, visit their website at www.siba-agc.org.

Pictured Below, left to right, is Bel-O Man President Jim Lugge and Siekmann, who both accepted their 50-year membership awards from SIBA at the awards banquet.

Celebrating 25 Years On The STL Business Journal Lists

Scheffel Boyle is pleased to announce that 2015 will mark its 25th anniversary of being listed in the St. Louis Business Journal’s Book of Lists as one of the “Largest Accounting Firms” in the St. Louis area.

Scheffel Boyle has seen significant expansion over its 90 years in business, which has earned the firm a regular spot for the last 25 years on the annual CPA firm rankings for the Business Journal. With the growth that took place this past year, the firm climbed a few spots on the CPA list, rising from #13 in 2013 to #11 for 2014.

Dennis Ulrich, CPA and Managing Principal, said that Scheffel Boyle’s rankings on the lists are not as important as the positive effect any growth has on the firm and those they serve.

“We never grow just to grow. Any merger or acquisition has to be what is in the best interest of our clients, our staff, and the firm as a whole,” Ulrich said. “The growth we saw in 2014 made us a better team. We added some outstanding professionals to Scheffel Boyle over the last year and their expertise will help us improve the service we offer our clients and expand the level of expertise we have at our disposal within the firm.”

Scheffel Boyle Raises Over $3,000 for Big Brothers Big Sisters

EDWARDSVILLE – Scheffel Boyle employees recently teamed up to raise funds for Big Brothers Big Sisters (BBBS) of Southwestern Illinois at their annual Bowl for Kids’ Sake fundraiser. So far, Scheffel Boyle’s teams have brought in over $3,000 in donations for the agency, and that amount may not be the final count as donations are still coming through.

Scheffel Boyle’s two bowling teams participated in the event on January 28th at Edison’s Entertainment Complex in Edwardsville. Each of the firm’s ten bowlers had their own fundraising efforts involving lots of social media activity and networking to come up with every dollar they could for the event.

Scott Weber, CPA and Principal at Scheffel Boyle’s Edwardsville office, serves on the Board of Directors for BBBS of Southwestern Illinois and is always excited to see his coworkers rally behind an organization that he is passionate on supporting.

“We look forward to this event every year and usually make it our goal to raise more than we did the year before. I’m excited to say that we accomplished that again this year for BBBS,” said Weber. “This is something that is planned and promoted by our employees and just shows what great people we have working for this firm. Their commitment during tax season to take some personal time for this great cause is very appreciated by myself, everyone at Scheffel Boyle, BBBS, and all the kids they help in our community.”

BBBS has been changing lives of youth throughout the U.S. for more than 100 years. According to their website, they are recognized “as the nation’s largest donor and volunteer supported mentoring network.” Their mission to “nurture children and strengthen communities” is supported through donations and fundraising events, such as Bowl for Kids’ Sake.

Bowl for Kids’ Sake has five other event dates from now until mid-April. For information on how you can donate or participate, visit bbbsil.org/bowl.

6 Important Tax Changes for 2015

6 Important Tax Changes for 2015

With 2015 officially in motion, you may be in the mindset of preparing to file your 2014 taxes. However, you also need to consider the newest changes in the tax code for 2015 and starting planning now to avoid costly mistakes throughout the year. Planning ahead for tax changes and adjusting your budget accordingly can mean the difference between writing a large or small check to the IRS in 2016. To help you get started, here are a few of the big tax changes for 2015 and how they may affect you.

  1. 401(k) Limits: In 2014, the cap for employee contributions to 401(k) plans was set at $17,500. In 2015, that limit will increase to $18,000. What does this mean for you? If you do have a 401(k) plan through work, be sure to inform your payroll department to increase your contribution (beginning January 1st) to make sure you are saving the maximum allowable in 2015. The allowance for those 50 years old and older has also been increased from $5,500 to $6,000.
  2. Alternative Minimum Tax: The AMT is an income tax on corporations, estates, trusts, and individuals imposed by the government. Moving into 2015, the AMT exemption has been raised by 1.5% from 2014. The AMT exemption amount for FY 2015 is $53,600 for individuals and $83,400 for those filing jointly.
  3. Standard Deduction: In 2015, the standard deduction (the fixed amount that reduces one’s taxable income each year) will increase to $6,300 for single filers and $12,600 for those filing jointly. This important change is crucial to tax planning. If you are unable to itemize enough deductions to exceed your standard deduction, it may be the only tax break you receive from the government on your next year’s tax return.
  4. Affordable Care Act:
    • For Employers: The ObamaCare Employer Mandate was set to begin in 2014, but was delayed until 2015. The Employer Mandate states that businesses with 100 or more full-time equivalent employees (30 hours or more per week)  must provide health insurance to at least 70% for 2015 of their F/T employees and dependents (age 26 and under), or pay a fine. A way for businesses to circumvent any financial penalty involved making “employer healthcare arrangements” with their full-time staff members, which means the employer reimbursed employees for some or all of the premium expenses incurred for health insurance policies. However, under section 498D of the Internal Revenue Code, if these types of arrangements were done, the employer could be subject to a $100 excise tax per day per employee.
    • For Individuals: The Affordable Care Act has been top of mind to many since being enacted. Part of its regulations mandates that most Americans must have health insurance or they are subject to paying a tax penalty. In 2014, the penalties were 1% of your household income or $95 per person (whichever is greater). Most people may have thought that was steep. However, in 2015, the penalties have increased to 2% of total household income or $325 per person. Those fees can add up quickly for the lower and middle class tax brackets.
  1. Flexible Spending Account Limits: In 2014, the annual limit for employee contributions to flexible spending accounts was set at $2,500 for qualified healthcare expenses. Beginning January 1, 2015, that limit will be raised $50 (up to $2,550). Those enrolled in flexible spending accounts through their employer need to make sure they opt in for the new maximum to get full benefit from the program.
  2. Tax Brackets: Income tax figures will once again be raised for 2015 at about 1.6% from 2014.

Unsure how these changes may affect you? Click here to contact a Scheffel Boyle Representative today!

2015 Illinois Tax Rate Changes

2015 Illinois Tax Rate Changes

  • Illinois Personal Income Tax rate is increased from 3% to 5% between January 1, 2011 and December 31, 2014. The rate will revert to 3.75% (originally proposed at 4%) from January 1, 2015 to December 31, 2024.
  • Corporate Income Tax Rate is increased from the current 7.3% rate to 9.5% starting January 1, 2011 through December 31, 2014. It then drops to 7.75% between January 1, 2015 and December 31, 2024.

Unsure about how this might affect you? Click here to contact your Scheffel Boyle team today!

Scheffel Boyle Named “Winning Workplace”

Scheffel Boyle is pleased to announce that it has been recognized by St. Louis Small Business Monthly as a “Winning Workplace” for the publication’s November 2014 issue.

Scheffel Boyle was one of ten “Winning Workplaces” selected in the entire St. Louis area. Winners were chosen based on their workplace cultures, employee benefit packages, and innovative professional attitude toward employee satisfaction and development.

According to St. Louis Small Business Monthly editor Ron Ameln, “Winning Workplaces are not only the best places to work in St. Louis, but businesses that have created a winning culture for employees, owners, and the future of the company.”

Dennis Ulrich, Scheffel Boyle’s Managing Principal, is grateful for Scheffel Boyle to be recognized for an award that is employee-focused and looks forward to sharing this honor with his staff.

“Scheffel Boyle is only a ‘Winning Workplace’ because of our people. No matter if you are a Principal or staff accountant, we are all never done learning or growing professionally here,” Ulrich said. “We all commit to creating a very encouraging, team-oriented environment. I’m proud to come to work every day and be associated with this dedicated group of professionals.”

Scheffel Boyle is recognized as the largest locally-owned accounting firm in Southwestern Illinois, and as one of the largest accounting firms in the St. Louis region. Their offices are currently located in Alton, Edwardsville, Belleville, Highland, Jerseyville, Columbia, Carrollton, Bartelso, and Bethalto. Established in 1924, their services include corporate, personal, and governmental tax, auditing, and accounting.