Michigan Sales Tax Complexities for Nonprofits

Lauren Edgley

Many nonprofit organizations believe that since the IRS has granted tax-exempt status, the organization is exempt from all taxes. However, that is not the case, and Michigan sales tax is one significant area that impacts most nonprofit organizations. The default treatment for sales tax for a nonprofit organization is the same as for a fo... Learn More

Do Your Part for Donors - IRS Substantiation Rules Apply to Contributors

Michael Evrard

Your donors are currently in the middle of filing their tax returns – it is very important to make sure that your organization is following the IRS’s donation substantiation rules so that your benefactors have the proof they need to deduct financial gifts. Proper documentation is also crucial so that your donors do not have any future pr... Learn More

Social Media Tips for Manufacturers

Jacob R. Sopczynski

Social media can be an inexpensive, but effective, way to market products and brands. But does it work for manufacturers, especially those that do not sell directly to the public? Some trendsetting manufacturers have successfully integrated social media into their marketing campaigns to drive traffic to their websites, build brand loyalty an... Learn More

Interim Accounting Services Add Value

Amy Buben

During the life cycle of a manufacturing company – as it changes and grows -- management may decide it is time to restructure and improve the accounting department, including reporting. The company may reach a stage where it becomes imperative to optimize existing software or even replace or expand leadership within the finance or accoun... Learn More

Fraud Risks and Why Internal Controls are Important

Amy Buben

Yeo & Yeo’s Amy Buben, a Certified Fraud Examiner, recently spoke to members of the Great Lakes Bay Manufacturers Association about fraud and internal controls. She described the different types of fraud that occur in businesses and why internal controls are important to help combat fraud risks. She shared examples of fraud that she ... Learn More

Attend the MMA’s 2017 Manufacturing Forum in April

Amy Buben

Members of Yeo & Yeo’s Manufacturing Services Group will attend the Michigan Manufacturers Association’s 2017 Manufacturing Forum on Tuesday, April 25, at the Suburban Collection Showplace in Novi. We welcome you to join us to gain new insights to grow your Michigan-based business. The Michigan Manufacturers Associati... Learn More

Construction Industry Outlook: What to Expect in 2017

Alex Wilson

Over the past few years, the construction industry has seen some profitable times, with a significant amount of new construction taking place throughout the state in both the residential and commercial sectors. Businesses are investing more in the infrastructure of their operations and are willing to expand and improve, which is driving ... Read More

Do You Need to File a Gift or Estate Tax Return?

Thomas E. Coulter

If you have made substantial gifts to your loved ones, or if you are the executor of someone’s estate, it is important to understand the rules surrounding gift and estate tax returns. Determining whether you need to file a return can be confusing, and in some cases it is advisable to file a return even if it is not required. Here is a brief summ... Learn More

When an Elderly Parent Might Qualify as Your Dependent

Yeo & Yeo CPAs & Business Consultants

It’s not uncommon for adult children to help support their aging parents. If you’re in this position, you might qualify for the adult-dependent exemption. It allows eligible taxpayers to deduct up to $4,050 for each adult dependent claimed on their 2016 tax return. Basic qualifications For you to qualify for the adult-dependent ... Learn More