News + Connections

Education Event: The Accounting Rules Have Changed – Is Your Business Ready?

The accounting rules for revenue recognition and leases have changed. Is your business ready for its impact on the financials, bank covenants and lease contracts? The new revenue recognition standard will take effect January 1, 2019 for privately held companies - that's right around the corner! Now is the time to dig in and start getting up to speed. On May 2nd, join DS+B for an educational presentation for business owners on how to effectively prepare your business and leadership team.

2018 Tax Calendar

To help you make sure you don’t miss any important 2018 deadlines, here is a summary of when various tax-related forms, payments and other actions are due.

Minnesota Manufacturing Executives Panel | Gears & Gadgets 10-16-2017

The next event on October 16th features a panel discussion made up of the winners and finalists of the Minnesota Business Magazine's "2017 Manufacturing Awards." The panel, moderated and hosted by Bill Wermager, will feature these prominent business leaders and innovators in the manufacturing industry sharing their success stories

DS+B Named Finalist for Minnesota Business “Innovators in Health + Wellness”

DS+B's healthcare team is proud to be nominated, and recognized as a finalist in the category of "Excellence in Professional Services" for the 2017 Innovators in Health + Wellness Awards, hosted by Minnesota Business magazine. This annual tribute to the excellence of the companies and people that make up Minnesota’s world-renowned health care industry. “We look forward to honoring a wide range of med-tech, wellness and health care companies based in Minnesota,” says Minnesota Business.

DS+B Sponsors the 2017 Ronald McDonald House Charities Golf Classic

DS+B and Rock Island Wealth Management are proud to be a sponsor of the RMHC Upper Midwest Golf Classic once again in 2017. Great to see clients, friends and associates out for a great cause. Sean Boland and Mitch Stolba were in full swing as charity competitors. Jon Cassens, Max Judd and Noah Vannevel provided food and beverages to golfers at our sponsored snack stop.

Jen Verly Will Join an Expert Panel for Club Entrepreneur, Minneapolis on November 14th

At November’s Club Entrepreneur workshop, Jen Verly will once again join a panel of business advisors to discuss common mistakes that derail successful companies. The workshop, co-presented by Upsize Minnesota Magazine will help companies with all facets of the growth challenge, and introduce specialists and experts who can serve as trusted resources.

DS+B Healthcare Team Presenting at HCAA in Las Vegas and Attending the MGMA Annual Conference in San Francisco.

Libby Hornibrook, Gary Cavett and Annette Dunn will present to leading healthcare advisors and CPAs on Revenue Cycle Management, including case studies and results for physicians and administrators, at the HCAA Conference. The National CPA Health Care Advisors Association (HCAA) is a nationwide network of CPA firms devoted to serving the healthcare industry. Members are selected for their experience and ability to provide proactive solutions to the accounting needs of physicians, physician groups and dentists.

Recap: Gears & Gadgets | Panel Discussion with Minnesota Business Magazine’s 2016 Manufacturing Awards Winners

October’s Gears and Gadget event was both inspiring and educational! The event featured an expert panel of executives and leaders who were recently recognized at the 2016 Manufacturing Awards by Minnesota Business Magazine.  One of the main themes of the discussion were leadership and management techniques that have proven successful for these manufacturing businesses. The panelists commented that periodically … Continued

Minnesota Manufacturing Executives Panel | Gears and Gadgets 10-12-16

October 12 | The next Gears and Gadgets event, hosted by Minnesota Manufacturing Executives, will feature a panel discussion made up of the winners and finalists of the Minnesota Business Magazine's "2016 Manufacturing Awards." Business leaders and innovators in the manufacturing industry will share their stories.

DS+B Earns 2016 BEST OF ACCOUNTING™ Award For Client Service Excellence

The Best of Accounting Award winners are proven industry leaders in service quality based completely on the ratings given to them by their clients. Fewer than 1% of all accounting firms in the United States and Canada have earned the 2016 Best of Accounting Award for providing remarkable service quality.

Congratulations to Kowalski’s Markets | 2016 Entrepreneurs of the Year, Upper Midwest

From everyone at DS+B, congratulations to Kowalski's Markets, winner of the 2016 Entrepreneur of the Year, Upper Midwest in the retail and consumer products category. Owner Mary Anne Kowalski and COO Kris Kowalski Christiansen were profiled in the August 2016 edition of the Twin Cities Business Magazine, which co-produces the award and event held in Minneapolis / St. Paul Minnesota.

MMGMA | July 27 Golf Outing | CPA Chip Challenge Winners Announced Here

The hospitality duo of Libby Hornibrook and Annette Dunn enjoyed meeting other MMGMA members and providing refreshments at the MMGMA Golf Outing on July 27. Gary Cavett and Mitch Stolba joined with other members to play in the tournament as well. DS+B is proud to be a Gold Sponsor and longstanding member of the Minnesota Medical Group Management Association.

MNABC | 33rd Annual Golf Event | CPA Chip Challenge Winners Announced Here

DS+B is proud to support the Associated Builders and Contractors | Minnesota and North Dakota Chapter. We hope everyone had a good time at the 33rd annual T.E. Ibberson Classic on Monday July 18th at the Burl Oaks Golf Club in Minnetrista. Our snack stop team of Heidi Greeley and Elizabeth Imm enjoyed meeting other MNABC members … Continued

Manufacturing Executives Event | DS+B Sponsors Gears and Gadgets | July 19th

DS+B is proud to be a sponsoring partner of Gears and Gadgets, hosted by Minnesota Manufacturing Executives, which provides business owners and executives with informative presentations on latest trends, networking and peer collaboration for a strong manufacturing presence in Minnesota. Registration for the July 19th event is now open!

DS+B Sponsors the 2016 Ronald McDonald House Charities Golf Classic

Great to see clients, friends and associates out for a great cause at the RMHC Upper Midwest Golf Classic again this year. Sean Boland and Mitch Stolba were in full swing as charity competitors. Jon Cassens, Max Judd and Joe Jensen provided food and beverages to golfers at our sponsored snack stop. All tallied, RMHC Upper Midwest generated over $190,000 for families in need! An amazing outcome....and a 40% increase above 2015!

DS+B | 2016 Gold Sponsor of the Minnesota Medical Group Management Association

DS+B is proud to once again be a Gold Sponsor for the Minnesota Medical Group Management Association. In March, our healthcare team attended the 2016 MMGMA Winter Conference in St. Paul, MN. This premier educational event equips medical practice executives with new ideas and tools to stay up-to-date, innovate, and succeed in their careers. It … Continued

Recap of 2015-2016 Healthcare Management Educational Series (HMES)

HMES: A collaborative series of educational events that equip your management team with a blend of financial, operational and compliance guidance to clarify complex healthcare industry challenges and accelerate growth in your medical practice. Top MGMA presenters and experts from across the country are brought to Minneapolis in order to lead a discussion on best practices for independent medical practice management.

DS+B is a Silver Sponsor of the Minnesota Precision Manufacturing Association

About MPMA For over 50 years, the Minnesota Precision Manufacturing Association has been a source of information, education and support for those in the precision manufacturing industry. Their mission is to drive success in Minnesota precision manufacturing and help Minnesota become the recognized world leader in precision manufacturing and related technologies. In addition to networking opportunities, MPMA … Continued

DS+B Proud Sponsor of Ronald McDonald House Charities, Upper Midwest

Sean Boland / DS+B have been supporters of the Ronald McDonald House Charities, Upper Midwest for many years. We are proud to be involved with great people for a great cause. A big part of what makes this group exceptional is the caliber of business professionals, franchisee owner operators and their staff who attend each event.  Jon … Continued

Next HMES Event January 14th | Business Intelligence Within Reach

Better data, better decisions. If only it were that easy. But by the end of this session, you will learn how to generate the type of business intelligence that keeps the Key Performance Indicators (KPIs) of your medical practice in front your management team. Easy access to your information will open up new conversations to improve operations and profit.

Larry Gamst Joins Advisory Board of Eight Twin Cities Business Leaders

Larry Gamst was recently featured in the Minneapolis / St. Paul Business Journal as part of a newly-formed advisory board. Larry joins a distinguished list of metro business leaders to bring local perspectives and business connections to help the financial services group build its Twin Cities presence.

DS+B is a Member of the Minnesota Grocers Association

About the Minnesota Grocers Association MGA is a non-profit trade association founded to advance the common interests of all those involved in the food industry-supermarkets, superstores, convenience stores, food wholesalers, and food manufacturers and brokers. Over 300 businesses representing 1200 retail food stores as well as nearly 150 related businesses representing wholesalers, food manufacturers and … Continued

Identity Theft / Tax Scam Update

Defending yourself against identity theft is, unfortunately, a part of modern life. Increasingly we have clients contacting us regarding aggressive telephone calls or have received emails from parties identifying themselves as from the Internal Revenue Service. These scam artists are hard at work calling from sophisticated call centers threatening bank accounts levy or imprisonment and demanding immediate payment.   … Continued

Minneapolis Working Families Agenda Delayed For Study Until 2016

Minneapolis Working Families Agenda Delayed for Study Until 2016. Proposed Earned Sick Time and Scheduling Restriction Ordinances May Impact Employers. For employers in the city of Minneapolis, the Working Families Agenda could have a potential impact on businesses that staff and operate flexible scheduling patterns for varying customer activity. As cited in numerous media reports recently, … Continued

Top 5 Inspirational Quotes | DS+B Healthcare Team at the MGMA Conference This Week

  Members of the DS+B Healthcare team  (Libby Hornibrook, Gary Cavett + Annette Dunn) are attending the Medical Group Management Association Annual Conference in Nashville this week. Per the MGMA website, Here are five inspirational quotes from MGMA15 speakers:   “Your competitors are lazier than you think.” – Jeremy Gutsche, founder, chief trend hunter and chief executive officer, … Continued

Healthcare Management Educational Series – Registration Now Open

HMES is a series of educational events designed to blend financial, operational and compliance guidance to clarify complex issues and accelerate growth in your medical practice. Featuring nationally-recognized presenters, local expert panelists and interactive discussions for CEOs, CFOs, Administrators and physician shareholders.

Brew Love Sponsor 2015 | Ronald McDonald House Charities Upper Midwest

From the event website: Join us on Thursday, August 13 at the Depot Shed in Minneapolis for the 6th Annual Brew Love. All event proceeds will enable the Ronald McDonald House Charities, Upper Midwest, to provide a comfortable and caring home-away-from-home that supports keeping families together and reduces stress during a child’s serious illness. The … Continued

DS+B Team Mentioned in MSP Business Journal “People on the Move.”

DS+B is growing and adding professionals with expertise in accounting, analysis, tax and business valuation services for its privately held business clients. We are excited to introduce several team members who were recently mentioned in the MSP Business Journal's "People on the Move"

DS+B is an Allied Member of the Minnesota Restaurant Association

About the Minnesota Restaurant Association The Minnesota Restaurant Association helps the industry thrive by providing advocacy, insight, education, networking and access to services and resources. The Minnesota Restaurant Association has served the needs of the restaurant and foodservice industry since 1933. In 1958, the MRA decided there was much to gain by joining forces and working collectively with … Continued

DS+B is a Member of the Minnesota Retailers Association

About the Minnesota Retailers Association The mission of the Minnesota Retailers Association is to promote, preserve and enhance the retail industry in Minnesota by taking a significant leadership position in development of public policy and regulatory measures that impact Members. MnRA will also work to enhance the public image of the retail industry by providing information, … Continued

DS+B Receives Top Rating in 2015 Peer Review

In 2015, DS+B completed its latest Peer Review as required to be in compliance with the AICPA. The results were no Matters for Further Consideration (MFC), and no Findings for Further Consideration (FFC), the highest rating a firm can receive.

IRS Update: Taxpayers Receiving Identity Verification Letter Should Use IDVerify.irs.gov

WASHINGTON — The Internal Revenue Service today reminded taxpayers who receive requests from the IRS to verify their identities that the Identity Verification Service website, idverify.irs.gov, offers the fastest, easiest way to complete the task. Taxpayers may receive a letter when the IRS stops suspicious tax returns that have indications of being identity theft but contains a real taxpayer’s name and/or Social Security number. Only those taxpayers receiving Letter 5071C should access idverify.irs.gov.

Sean Boland Will Be a Panelist for Mergers and Acquisitions Luncheon in Minneapolis on March 26

Sean Boland will be one of the panelists during the next UPSIZE Magazine / Club Entrepreneur luncheon on March 26 at the Minneapolis Club. Topic: What small to mid sized business owners need to know about mergers and acquisitions, best practices to maximize your business value when it’s time sell, and how to engage effective buyer side due diligence to get the best deal possible.

DS+B Named to the “Top 25” Accounting Firms List

A few more awards or plaques on the wall never hurts, but more important to us is the consistency in which we serve our clients’ interests. As a connected member of the Twin Cities business community, we work to create, grow and preserve wealth for many businesses and individuals. In this way, our firm and people have grown with our clients since 1950.

DS+B is a Member of the Minnesota Petroleum Marketers Association

DS+B is a long-standing member of the Minnesota Petroleum Marketers Association. The MPMA provides its members up-to-date regulatory and business insights on alternative energy, c-store business management, finance, government affairs and PAC, environmental and transportation safety.

Recap | National MGMA Conference Hot Topics

Moderated by: Gary Cavett, CPA | DS&B Senior Healthcare Consultant Not everyone can take the time or spend the money to attend the 2014 National Medical Group Management Association (MGMA) Conference in Las Vegas this year. So, we bring the information back to The Twin Cities to discuss with local experts and panelists. This is the … Continued

DS+B Sponsored “Introduction to Growing Your Business” Event on October 11

This free SCORE introductory workshop to “Simple Steps for Growing Your Business” is designed for small business owners already in business and wanting to learn what it takes to grow further. It provides small business owners and managers the knowledge and tools they need to analyze, assess and grow their venture.

DS+B Presents to Construction and Contracting Business Leaders at MNABC

The DS+B team of Patrick Maloney (presenting), Kathy Kirkeby and Jerry Riegel were co-sponsors of the MNABC Breakfast and Education – “How to Entice, Retain and Motivate Employees.” In partnership with Mid American Financial Group, the presenters outlined some out-of-the-box methods to give construction and contracting business leaders some additional strategies to retain/hire employees in this competitive construction labor market.

Tips for Identifying Telephone Tax Scams

Increasingly we have clients contacting us regarding aggressive telephone calls received from parties identifying themselves as from the Internal Revenue Service. Telephone scam artists are hard at work calling from sophisticated call centers threatening bank accounts levy or imprisonment and demanding immediate payment.

DS&B Healthcare Team at the 2014 MMGMA Winter Conference

Keeping our clients up to date with changes in the healthcare industry is job #1 for our team of healthcare accountants, tax experts and consultants. Great to see many familiar faces at this year’s Minnesota Medical Group Management Association Winter Conference in Minneapolis.

Gary Cavett to Introduce Frank Cohen at 2013 MMGMA Summer Conference Keynote Presentation

Gary Cavett, Health Care Consultant at DS&B, will be introducing Frank Cohen during his keynote presentation at the 2013 Minnesota Medical Group Management Association’s Summer Conference. The presentation will be on Thursday July 25, and Frank will be presenting “It’s OK to be Lucky When You’re Lucky: Evidence-Based Management in Healthcare”.

Great Day at the 2013 MPMA Open Golf Classic

Clint Seehusen, Principal at DS&B, making the rounds at this year’s Minnesota Precision Manufacturing Association Open Golf Classic at Tartan Park. Great day out with fellow manufacturing industry owners, professionals, business associates and friends of MPMA.

Delay in ACA Employer Mandate: Opportunity to Regroup

The bombshell July 2 announcement came in the form of a blog post on the U.S. Treasury Department’s website, accompanied by a statement from the White House. The employer “shared responsibility” or “pay or play” provision is being delayed one year, until 2015.

Ignore Credit Card Security Compliance at Your Peril

Credit cards are an easy and convenient way for your customers to pay you. If you are a web merchant then it is virtually the only way. However, there are serious pitfalls you need to be aware of. Securing your customers’ credit card data is one of these issues. There are well defined industry goals … Continued

Small Physician Practice HIPAA $100,000 Settlement

I recently attended the 2013 Health Law Institute Minnesota Continuing Legal Education two-day seminar. One of the topics covered was “Significant New HIPAA Developments – A Report from the U.S. HHS Office of the General Counsel.” Jerome Meites from the Chicago HHS office of the General Counsel spoke on this topic.

TwinWest Chamber of Commerce Entrepreneur of the Year Announced

Congratulations to Nicole Middendorf of Prosperwell Financial as winner of Entrepreneur of the Year at the 2013 TwinWest Chamber of Commerce Small Business Awards Luncheon. Also recognized was Noah Rouen of The Rouen Group as Emerging Entrepreneur of the Year.

Momentum Builds for New Manufacturing Initiatives

In his latest State of the Union address, President Obama called for new manufacturing initiatives as a way to “bring jobs back home.” The president outlined, in general terms, the use of manufacturing hubs to coordinate efforts based on technological advances.

Tax Court: Bad Loans to Corporations Treated as Non-Business Bad Debt Losses

The IRS is always skeptical when individual taxpayers claim deductions for bad debt losses. The reason: losses from purported loan transactions are often from some other type of deal that went south. For example, the taxpayer might have actually made a contribution to the capital of a business entity that turned out to be a loser.