Blog

Whip Jobs into Shape with Work in Progress (WIP) Summary

Yeo & Yeo CPAs & Business Consultants

What if you need to see the profitability of a project while it's happening? You may be struggling with matching the timing of your revenue to your costs because you invoice in advance of the work being completed. The Job Work in Progress Report (WIP) Summary can be used by contractors or other businesses that progress or advance bill th... Learn More

Coverdell ESAs: The Tax-Advantaged Way to Fund Elementary and Secondary School Costs

Yeo & Yeo CPAs & Business Consultants

With school out you might be focused on summer plans for your children (or grandchildren). But the end of the school year is also a good time to think about Coverdell Education Savings Accounts (ESAs) — especially if the children are in grade school or younger. One major advantage of ESAs over another popular education saving tool,... Learn More

5 Tips to Consider Before You Buy a Franchise

Yeo & Yeo CPAs & Business Consultants

For entrepreneurs seeking a lower-risk, turnkey opportunity, a franchise can be a good fit. But to help ensure you are making the right choice be sure to consider: 1. Self Assess. Franchise systems are highly structured and best suited to owners willing to follow rules and listen to feedback. 2. Preform Research. Some franchises are better tha... Learn More

2017 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers

Yeo & Yeo CPAs & Business Consultants

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. Ju... Learn More

Know the Rules for Summer Employment of Youth and Teenagers

Peter Bender

Summer is upon us, which means schools are out and kids of various ages will be looking for summer jobs. As always, the agriculture industry will continue to offer many opportunities for summer employment for teenagers. However, the laws and regulations for youth employment in agriculture differ from nonfarm jobs, so be sure to understan... Learn More

Spotlight on Fraud in the Manufacturing Industry

Amy Buben

The Association of Certified Fraud Examiners (ACFE) has published its 2016 Report to the Nations on Occupational Fraud and Abuse. The latest biennial study breaks down white collar crimes by industry, highlighting the common scams that manufacturers need to watch for and ways for them to minimize potential losses from fraud. How much doe... Learn More

Changes to Net Assets Under the New FASB Nonprofit Standards

Wendy Thompson

Nonprofits with years ending December 31, 2018, and later will implement the new nonprofit accounting standard, FASB ASU 2016-14, Presentation of Financial Statements of Not-for-Profit Entities. This new standard is the first significant change to nonprofit accounting in 20 years. The reporting of net assets will change under this standard. ... Learn More

Take Advantage of Tax Savings with Your RMD

Kelly Brown

Once taxpayers turn age 70½, required minimum distributions (RMDs) must be made annually from any non-Roth IRA accounts. These amounts are calculated each year, based on the total amount in the IRA and the taxpayer’s (and spouse’s, if applicable) ages. Over the years, Congress has passed provisions allowing for Qualified Charitable Distr... Learn More