July 2014 Tax Tips, Scam Warnings, Updates & More


June 2014 General Client Newsletter

Relax this summer…

Did you extend your filings from March? The next corporate tax deadline is September 15 if you are a calendar year end with extended filings.

Avoid any last minute rush and make your life simpler with an “imaginary” deadline. Make time now to gather the necessary documents, set August 15 as the date to send us your paperwork and see how stress-free the rest of your summer is. Enjoy Labor Day while other business owners are thinking about the fast-approaching September 15 deadline.

Let us know how we can be a resource for you. We always look forward to hearing from you.

Also in this month’s issue:


June 2014 Midyear Tax Tips, Updates & More

June 2014 General Client Newsletter

In this month’s issue:

Fulfilling Dreams…

Larry Adler Rides Route 66 and Raises Money for Jewish Education

Larry Adler at the Launching PadRiding Route 66 has been a longtime dream of Larry Adler, CPA, member, Weltman Bernfield. This year, he fulfilled that dream and used the 2,448-mile ride as a fundraiser for another of his passions—Chicagoland Jewish High School (CJHS). Larry and his wife, Angie, began their trip in Chicago on May 6, arrived in Santa Monica on May 20 and, in the process, raised $30,000 for Jewish education through CJHS. Continue reading

Rich Kane Selected as “2014 Top 100 ProAdvisor”

Rich Kane, CPA, Advanced QuickBooks ProAdvisorWeltman Bernfield LLC is pleased to announce that Rich Kane, CPA, Weltman Bernfield, is included in the  Intuitive Accountant first annual “Top 100 ProAdvisor” list. This list recognizes the leading consultants who have embraced the QuickBooks ProAdvisor program and have leveraged it in order to serve their clients better and grow their own businesses.

Rich Kane selected as an Intuitive Accountant Top 100 ProAdvisor 2014

The Top 100 were selected from the tens of thousands of ProAdvisors in the country. The selection process started with a call for nominations. Then, there was a scoring based on multiple factors and, finally, an open vote in which over 2,000 peers voted. After Intuitive Accountant compiled the scores, Rich was one of the Top 100. Click here for the full list.

Part of the Weltman Bernfield team since January 2011, Rich is an Advanced QuickBooks ProAdvisor, a member of the Intuit Trainers/Writers Network and Accountants Today Executive Research Council, a Certified Xero Partner and a Chicago Intuit Brand Ambassador. He is experienced in all facets of accounting, including client accounting and tax, and works with clients on day-to-day transactions. Rich graduated from Northeastern Illinois University with a bachelor’s degree in business and Loyola University with a master’s degree in Business Administration.

The 2014 Accounting Intern Scholarship Program Begins…

We are proud to participate in the the 2014 Accounting Intern Scholarship Program (AISP) for the third year. This year’s session started on June 3, 2014, with an orientation session at Ravinia Green Country Club. After an informal meet and greet over breakfast, the interns received a general overview of the eight-week program. Throughout the program, the interns will spend time at each of the six participating firms learning the ins and outs of life at small to midsize CPA firms.


During “speed meeting” sessions, interns were able to talk individually with partners and staff from the six participating firms.

Following the overview, the interns took part in “speed meeting” where they moved from table to table to talk with staff members and partners from the six participating firms. This allowed for both the firms and the interns to get to know each other in a more intimate setting. As an added plus, some of the staff from the different firms were alumni from previous AISP sessions who could answer additional questions about the program.

“This is the second year that we’ve used the speed meeting format,” says Lisa Chester, AISP coordinator and marketing manager for Weltman Bernfield. “Many of the interns have said that they like this format because it gives them individual time with each firm and gives them a chance to meet people before going to the actual firm.”

The 2014 AISP interns: (front row, l-r) Sandra Ramirez, Gergana Tsvetkova, Ashley Barak, Meghan Creed, (backrow, l-r) Corey Lettieri, Tim Reichert, Tim Martin, Michael Bolnick, Sean Tews and Matt Wydra.

The 2014 AISP interns: (front row, l-r) Sandra Ramirez, Gergana Tsvetkova, Ashley Barak, Meghan Creed, (back row, l-r) Corey Lettieri, Tim Reichert, Tim Martin, Michael Bolnick, Sean Tews and Matt Wydra.

This year’s interns are:

  • Ashley Barak, Judson University
  • Michael Bolnick, Bradley University
  • Meghan Creed, Elmhurst College
  • Corey Lettieri, Illinois State University
  • Tim Martin, Roosevelt University
  • Sandra Ramirez, DePaul University
  • Tim Reichert, Roosevelt University
  • Sean Tews, Elmhurst College
  • Gergana Tsvetkova, University of Illinois at Chicago
  • Matt Wydra, Trinity Christian College

Learn more about AISP at www.accountingisp.com.

8 QuickBooks Reports That You Should Be Running Regularly

June 2014 QuickBooks® Newsletter

QBC newsletter logoQuickBooks provides dozens of customizable report templates. You know when you need some of them, but which are musts?

You send invoices because you sold products and/or services. Purchase orders go out when you’re running low on inventory, and it seems like there are always bills to pay. All of this activity is, of course, important in itself, but all of your conscientious bookkeeping culminates in what’s probably the most critical element of QuickBooks: your reports.

Reports can tell you how many navy blue sweatshirts you sold in March, what you paid for health insurance premiums in the first quarter, and how much you bought from your favorite vendor last month. They’re very good at drilling down to get the precise set of numbers you need.

But reports – carefully customized and properly analyzed – can do more than tell you how many golf clubs to order and when it’s time to switch phone services. They can help you make the business decisions that will help you take your growing company to the next level. There are several that you should be looking at regularly, some of which you can interpret easily and use in your daily workflow. We’ll help you with the interpretation of the more complex financial reports. Continue reading