College Bowling with Scheffel

Do you know any bright and personable college students interested in working for a local accounting firm? If you do, pass this information along. We’d love to talk to them!

Scheffel Shares – Snack Proceeds Donated to 5A’s Animal Shelter

Over the last year and a half the staff of Scheffel & Company, PC’s Alton location has put their in-office snacking to use toward a good cause. Spearheaded by Manager Marsha Bunyan, the accounting firm has given nearly $700 in profits to 5A’s Animal Shelter in Alton. 

“Our employees often work long hours and so naturally we all get the urge to snack. Marsha came to us with the idea of setting up a snack station and giving the proceeds to a good cause. We all thought donating to 5A’s was a great idea; it fit with our firm’s push to give back to the community through our employee driven Scheffel Shares initiative,” said Principal Mike Fitzgerald. “The snacks have been a real hit, especially during tax season. Marsha even provides healthy snacks so we all can find something we like.”

5A’s Animal Shelter, short for Alton Area Animal Aid Association, is a non-profit no-kill shelter. The shelter mission is to provide care and shelter for the homeless and abandoned animals of the Riverbend area. 

Scheffel & Company, PC, an Independent Member of the BDO Seidman Alliance, is a regional Certified Public Accounting Firm with offices in Alton, Edwardsville, Highland, Jerseyville and Carrollton. The “St. Louis Business Journal” consistently ranks it as one of the largest accounting firm in the St. Louis area. Scheffel & Company, PC was established in 1955 with accounting and business services at its core. Today, The Scheffel Companies specialties also include business consulting and wealth management.  For additional information about Scheffel & Company, PC, visit us at www.scheffelpc.com.

Scheffel & Company, PC Announces 2013 Promotions

ALTON, IL- The accounting firm of Scheffel & Company, PC is pleased to announce the promotions of the following professionals. Congratulations!

Highland Location  
Joel Bradley, CPA Senior Accountant
Lisa Winkeler, CPA Senior Accountant
Alton Location  
Andrew Vanausdoll Senior Accountant
Edwardsville Location  
Austin Tebbe Semi-Senior Accountant

 

Scheffel & Company, PC, an Independent Member of the BDO Seidman Alliance, is a regional Certified Public Accounting Firm with offices in Alton, Edwardsville, Highland, Jerseyville and Carrollton. The “St. Louis Business Journal” consistently ranks it as one of the largest accounting firm in the St. Louis area. Scheffel & Company, PC was established in 1955 with accounting and business services at its core. Today, The Scheffel Companies specialties also include business consulting and wealth management.  For additional information about Scheffel & Company, PC visit us at www.scheffelpc.com.

Fitzgerald Quoted in IBJ

Korte Presents on Fraud Prevention for Construction Industry

Mark Korte, Principal with Scheffel & Company, PC, recently presented to members of the Southern Illinois Builders Association (SIBA). Korte covered best practices for companies to prevent fraud. Each year fraud costs the construction industry billions of dollars in lost revenue.

Contact us at info@scheffelpc if you would like Korte to speak with your company about fraud prevention.

Dennis Ulrich Makes St. Louis Top Accountants List 2013

Scheffel’s very own Dennis Ulrich was named to the St. Louis Small Business Monthly’s 2013 Top Accountants. List. Click on the icon for more information.

 

One Year Delay for Play or Pay Penalties

SUMMARY

In response to employers’ requests for more time to implement complex regulations regarding reporting requirements under the Affordable Care Act, the Obama Administration announced on Tuesday, July 2, 2013, a one-year delay in the effective date of a major component of the Act requiring employers with at least 50 workers to offer health coverage or be exposed to a penalty. The provision, commonly known as the “play or pay” penalty or employer mandate, will now become effective on January 1, 2015. Obviously, the delay removes the pressure to redesign plan coverage in the next few months to maximize the cost benefit of avoiding (or paying) the penalties. Employers now have an extra year to vet the pros and cons of their plan designs and to implement the Act’s requirements on coverage.

The Act’s other two major provisions, expanding Medicaid and requiring individuals to obtain coverage or pay a penalty, will still become effective on January 1, 2014.

BACKGROUND

The extended provision, commonly known as the “play or pay” penalty or employer mandate, requires businesses with 50 or more full-time or full-time-equivalent workers to provide insurance to full-time workers or risk a penalty of $3,000 for each full-time employee over 30. Even employers that offer health care benefits can be subject to a different penalty calculation if the offered coverage is not of the right quality or is not affordable. In this instance, a penalty of $3,000 will be assessed for each full-time employee who actually received a federal subsidy to purchase health coverage on an exchange.

For more information or to speak with one of the Scheffel & Company, PC experts, please contact us today.

This article originally appeared in BDO USA, LLP’s “BDO Knows Compensation & Benefits” (July 2013) Copyright @ 2013 BDO USA, LLP, All rights reserved. www.bdo.com

Scheffel Participates in Bowl for Charity

A group of Scheffel & Company, PC employees and their spouses recently participated in the Young Professionals of Alton Bowl for Charity fundraiser and silent auction at Bowl Haven.

All proceeds from this fun filled evening went to the Cottage Hills Community Hope Center. The Community Hope Center is a full service emergency crisis center that helps local disadvantaged people including the homeless, children, and the elderly.

Scheffel & Company CPAs Josh Andres, Jenna Bock and Julie Graham are all active members of the Young Professionals of Alton and helped coordinate the fundraiser.

Dennis Ulrich Named Industry Leader in Southwestern Illinois

The Scheffel Companies Managing Principal, Dennis Ulrich was recently highlighted in the May issue of the Illinois Business Journal as an industry leader in Southwestern Illinois.