Somerset News Releases

Somerset Wherewithal - May 2012

Melissa Farmer — Thu, 17 May 2012 16:55:05 +0000

See the current issue of our Wherewithal for articles on the following topics:

Six Tax-Planning Moves for Midyear
Start Planning for the New 2013 Medicare Tax on Investment Income
IRS Relaxes “Innocent Spouse” Rules
Mining Three Sources of Retirement Income
Taking Tax Write-Offs for Good Deeds
More Tax News
Somerset CPAs News

Somerset Achieves 7th Place in 2012 Best Places to Work in Indiana Ranking

Melissa Farmer — Fri, 04 May 2012 19:41:41 +0000

The 2012 ‘Best Places to Work in Indiana’ rankings were announced on May 3, 2012, by the Indiana Chamber of Commerce. There were 70 companies from throughout the state that made the 2012 Best Places to Work in Indiana list. The top companies in the state are determined through employer reports and comprehensive employee surveys.

Somerset is proud to be ranked 7th place in the small to medium-sized companies category of between 15 and 249 U.S. employees, and we thank our associates for the honor.

More information about the award.

Somerset Real Estate Focus - May 2012

Melissa Farmer — Thu, 03 May 2012 18:44:10 +0000

Our Real Estate Team’s quarterly newsletter has been published. Articles include:

Mezzanine Financing Plays Important Role
Mortgage Interest Deductible
Managing Distressed Real Estate
Lease Renewal Options
Four Real Estate Financing Plans

>>Go to newsletter

Somerset Real Estate Team News

Somerset Hosting Axium Users Group on April 18

Melissa Farmer — Fri, 06 Apr 2012 14:13:40 +0000

On Wednesday, April 18, Linsey Bont of Somerset’s Information Solutions Team will host this event for Axium users. It will be held in Somerset’s Conference Center from 10:00 a.m. to Noon, and lunch will be served at noon. Registration is open.

Somerset CPAs “Lose Big” During Tax Season

Melissa Farmer — Mon, 19 Mar 2012 20:21:37 +0000

Our associates are “losing big” this tax season. This is typically a time when CPAs are too busy to worry about eating right and exercising, but this year Somerset’s Wellness Committee wanted to change that.

Our Wellness Committee decided to appeal to our associates’ competitive sides and hold a contest. They came up with the “Somerset Wellness Challenge,” which groups participants into teams to lose weight during tax season. Not meant to be a quick weight loss program, the challenge promotes simple lifestyle changes like moving more, eating more fruits and vegetables and drinking more water. Somerset coordinated with Spectrum Health Systems so weekly weigh-ins and individual identities would be confidential.

Debbie Williams, the firm’s Controller and Co-Chair of the Wellness Committee said, “The committee was inspired to set up this challenge to help employees take control of their health and fitness after Somerset held on-site health screenings. It’s been great to see the results.”

About half of our associates signed up to participate in January. By mid-March, those 67 participants have lost an amazing 262 pounds in total. That’s an average loss of 3.91 pounds per participant.

To support associates, Somerset CPAs also provides the following:

Friday yoga classes
Catered dinners during the week that offer healthy choices
Healthy snacks daily – fresh fruit, yogurt, vegetable trays, granola bars, etc.
Brown bag wellness lunches
Wellness segment at staff meetings
Wellness reimbursement program
On-site wellness screenings

Teams with the biggest percentage of weight loss have been given interim prizes and recognition throughout the contest. The final weigh-in will be on April 25, and the top 3 team and individual winners will receive cash prizes.

We are happy to be “big losers” this tax season!

Somerset Work-In-Process - March 2012

Melissa Farmer — Thu, 15 Mar 2012 21:47:15 +0000

Our Construction & A/E Team has published their e-newsletter, Work-In-Process. Article topics include:

Fine-Tuning Internal Controls
Indiana Sales/Use Tax Webinar
Domestic Production Activity Deduction
Reimbursing Living Expenses
Sizing Up Joint Ventures
Developments in Tax and Business
Alternative Minimum Tax

AchieveWELL Certificate Training Program

Melissa Farmer — Mon, 12 Mar 2012 13:46:01 +0000

Health care costs are rising at alarming rates, and many organizations are addressing these costs head on with a workplace wellness program. Do you have a wellness initiative in place or are you trying to figure out where to start?

Somerset CPAs has partnered with the Wellness Council of Indiana to offer a Wellness Workshop Series to businesses who want to offer a wellness program to their employees.

We are pleased to invite YOU to participate in this workshop series, which is based on the AchieveWELL Certification program. This four workshop series is being offered in the Somerset Conference Center in 3-hour monthly sessions beginning April 25 and concluding August 22. As a participant, you will:

Qualify for 6.5 PHR/SPHR re-certification credits
Earn the individual AchieveWELL certification
Receive the guidance and leadership needed to create and sustain a healthy culture
Obtain tools and education needed to attain the employer AchieveWELL 3-star accreditation through the Wellness Council of Indiana and at a reduced cost
Gain a network of business leaders for future support and partnership in the wellness space

The AchieveWELL certification is typically held via a day and a half session with a cost of $399. Through our invitation, your cost for the series is only $299.

Please register as soon as possible. Space is limited and securing a participant spot is on a first come, first serve basis. Don’t miss this exciting invitation to participate in the inaugural Wellness Workshop Series. Details and registration…

Fishing in Revenue Streams - Revenue Overstatements

Melissa Farmer — Thu, 01 Mar 2012 20:11:09 +0000

Ken W. Stalcup, CPA, CFE, CFF of our Litigation, Valuation & Forensic Team wrote an article that was published by Fraud Magazine recently.

“Revenue accounts are fraudsters’ favorite targets in financial statement frauds because they often contain the largest numbers and high volumes of transactions within general ledgers. As CFEs, we need to understand the underlying causes and motivations for overstating revenues. But don’t bury yourself in the ledgers; investigatory interviews and other analyses are imperative.”

Somerset Perspectives on Litigation Support - March 2012

Melissa Farmer — Thu, 01 Mar 2012 15:51:26 +0000

Our Litigation, Valuation & Forensic Team just published another issue of Perspectives on Litigation Support. Articles include:

IRS Discontinues Two-Year Time Limit for Innocent Spouse Relief Requests
Use a Focus Group to Test Aspects of Case Presentation
Differentiate Your Firm’s Services
Attorney Communication Subject to DOL Subpoena

>>Go to newsletter

Somerset CPAs on the 2012 Best Places to Work in Indiana List

Melissa Farmer — Wed, 22 Feb 2012 16:22:19 +0000

Thanks to our associates, Somerset CPAs has again been named one of the Best Places to Work in Indiana in the Small to Medium-sized Companies (15-249 employees) category. We’ve made the list in each year that we’ve participated in the program–2006, 2007, 2008, 2010, 2011 and now 2012.

We will learn our ranking at the awards dinner on May 3. Read more…