Sioux Falls Business Magazine March-April 2013
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Transcript of Sioux Falls Business Magazine March-April 2013
LOCALLY-OWNEDBUSINESS RAISESTHE BARPLUS:NICHE BUSINESSESFIND SUCCESS
A BUSINESS BUILT ON RELATIONSHIPS
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JJ PUBLISHING, INC.SIoUx fALLS BUSINESS MAGAzINE1608 w. 2nd streetsioux falls, sd 57104(605) 553-1900www.SIoUxfALLSBUSINESSMAGAzINE.CoM
2013 SIoUx fALLS BUSINESS MAGAzINE. ALL RIGHTS RESERVED. no Part of this Publication may be reProduced without written Permission from the Publisher. sioux falls business magazine does not necessarily endorse or agree with content of articles or adVertising Presented.
ON OUR COvER / / leadershiPBagel Boy owners Mike and Brenda Dinsmore raise the dough business from show business. Read their fascinating story and how it all started with Bill Cosby.
SwEAT+SMARTPHoNE=SUCCESS? / / technologyIt seems everybody has a smartphone these days. But is it necessary? We take a closer look at it and how it stacks up to other options, like the revamped Blackberry.
PERfECT yoUR SwING THIS SPRING // entrePreneurGolfers beware, theres a new place to get your game up to par and its open year-round.
OUR LEGACY / / legacyIts all about family and relationships. We sat down with Pete Hegg of Hegg Companies and talked about what it takes to run a successful business through the decades.
CANCER AND yoUR DIET / / health & wellnessStudies are showing theres a link between eating habits and certain cancers. But there are lots of healthy options out there and local produce businesses are growing because of it.
KEEPING IT SIMPLE / / sales & marKetingSeveral businesses in Sioux Falls are focusing on a niche and finding out you dont have to offer a one-stop-shop to find success.
SoCIAL MEDIA MAyHEM // human resourcesWe talk with local human resource representatives about how businesses are using it, if its creating problems in the workplace and sat down with a lawyer to ask the tough question: Is it legal to hire or fire based on profiles?
NoN-PRofIT PRofILELearn more about the Sioux Falls Area CASA Program and how it benefits the community.
SfBM /// CONTENTS
605-553-0514w w w . a v i t u s g r o u p . c o m
Regional Ofce Sioux Falls, SD
About the PPACA(Otherwise known as Obamacare)Businesses will be measured in 2013 to determine if they will be required to provide healthcare in 2014. Beginning in 2014, employers that employ an average of 50 full-time equivalent employees during the 2013 calendar year must offer health coverage that meets minimum essential coverage requirements or pay a fine.
Employer Size CalculationCompanies fall into one of two categories: a) Companies with fewer than 50 employees b) Companies with 50 or more employees. This is a big and often confusing issue for employers because part time employees enter into the equation. Ask us about our Complimentary Employer Size Formula and we'll do the calculations for you. This is a benefit available to any of our members. It is also an offer we're extending to ALL businesses for a limited time.
Strategic Planning for 2014If your business is considered a large employer, you are required to offer coverage to FTEs (full time employees) only. You may offer coverage to everyone if you want. FTE status will depend on expected hours for new hires and a portion of actual work history for existing employees on 12/31/13. The rules for determining who is a full time employee for coverage are different from the counting rules.
Insurance ExchangesAn employer with fewer than 50 employees can choose not to provide coverage. There is no penalty to the employer. However, all employees of the business are mandated to have coverage. These employees can shop for insurance at an exchange. A health
insurance exchange is a set of government-regulated and standard-ized health care plans in the United States from which individuals may purchase health insurance eligible for federal subsidies. All exchanges must be fully certified and operational by January 1, 2014 under federal law. Exchanges will be established for each state, either by the state itself or by the federal government.
To learn more about the rules, penalties and deadlines associated with the PPACA, please contact us. We're finding many employers simply do not have the time to keep up with
the complex issue of Obamacare, or they do not want to find the time. This is not the reason they got into business, and they would prefer to focus on what they do best and spend time growing their business, not getting bogged down with healthcare. The PPACA will be a burdensome, yet required function of business. Let Avitus Group help with your PPACA transition. Contact us today for help wading through Obamacare and sign up for our newsletter via avitusgroup.com for the latest information on the PPACA and how it will affect your bottom-line.
Steven Bentley is the Senior VP of Finance at Avitus Group. Steve holds a Masters in business taxation from the University of Southern California and has over 30 years of experience in public and private accounting. He is the CFO for Avitus Group, a national company that helps other companies with their administrative hassles (payroll, taxes, bookkeeping and much more).
Obamacare & your business
AVITUS GROUPTAX PLANNING & PREPARATION
Whether you are looking for tax expertise or time saving convenience for yourself or for your
business, we can help with your tax planningand tax compliance needs.
Please visit our websitefor more information.
How does Obamacare affect your business?A step by step guide through the transition.
by Steven Bentley,Avitus Group Senior VP of Finance
605-553-0514w w w . a v i t u s g r o u p . c o m
Regional Ofce Sioux Falls, SD
SfBM /// FEATURE
THEy SAy THERES no business like show business. But for Mike and Brenda Dinsmore, current owners of Bagel Boy, show business is how their dough business got started. And its a successful dough business at that. With two locations, their new one located just south of 33rd and Minnesota, and their E. 26th Street spot, its not hard to see why. Drive by virtually any time of day and the parking lots or drive through on 26th Street are pretty busy with carb-hungry patrons, looking to get their bagel fix. And for that, Mike and Brenda are so grateful. Sioux Falls is such a wonderful community, Brenda says. Were so thankful people pick us.
While Mike and Brenda are not the original founders of Bagel Boy, which first opened in Sioux Falls in 1994, youd never know it by the way they treat the store itself, its customers and its employees. This business, along with our kids, is our baby. We cherish each day we have here with the customers and the employees. The Dinsmores bought the two original locations in 2000, after they moved to Sioux Falls from Reading, Penn. We
were ready to move back to South Dakota, says Brenda. And you know what? The timing was just right.
Bagel Boy in BrooklynSo how did the Dinsmores get into the bagel business
in the first place? It all sta