Estate Planning Should Include Your Online Accounts

Michael Espinoza

Helping you plan for and protect your assets and your legacy is something we are very passionate about. We want to pass along some information about an area that you cannot afford to overlook in the estate planning process.      Estate planning 2.0 – protecting your digital footprint The growing popula... Learn More

How Many Employees Does Your Business Have for ACA Purposes?

Yeo & Yeo CPAs & Business Consultants

It seems like a simple question: How many full-time workers does your business employ? But, when it comes to the Affordable Care Act (ACA), the answer can be complicated. The number of workers you employ determines whether your organization is an applicable large employer (ALE). Just because your business isn’t an ALE one year... Read More

Throw a Company Picnic for Employees This Summer and Enjoy Larger Deductions

Yeo & Yeo CPAs & Business Consultants

Many businesses host a picnic for employees in the summer. It’s a fun activity for your staff and you may be able to take a larger deduction for the cost than you would on other meal and entertainment expenses. Deduction limits Generally, businesses are limited to deducting 50% of allowable meal and entertainment expenses. B... Learn How

Department of Labor’s Final Rule on Overtime Signals Big Changes for Companies

Yeo & Yeo CPAs & Business Consultants

The U.S. Department of Labor (DOL) has issued the “Final Rule” version of its amendments to overtime pay requirements, affecting more than four million workers who may qualify for overtime pay. The new rules will take effect December 1, 2016.  The new rules include changes to the criteria used to define overtime exemptio... Learn More

Entrepreneurs: What Can You Deduct and When?

Yeo & Yeo CPAs & Business Consultants

Starting a new business is an exciting time. But before you even open the doors, you generally have to spend a lot of money. You may have to train workers and pay for rent, utilities, marketing and more. Entrepreneurs are often unaware that many expenses incurred by start-ups can’t be deducted right away. How expenses are handled ... Learn More

Michigan Homestead Property Tax Credit

Steven Treece

Are you receiving the maximum credit allowed for property taxes paid on your farm? When it comes to farmers and the Michigan Homestead Property Tax Credit, taxes paid on property other than your residence may also be eligible for the credit. Depending on your total gross receipts from farming activities and other sources of income you may ... Find Out

Succession Planning Requires Smart Strategies

Yeo & Yeo CPAs & Business Consultants

Succession planning is important in any business, but it's sometimes overlooked in family-owned operations. This is a big mistake. There are numerous former family-run companies that no longer exist due to poor or no succession plan. The plan needs to be well thought out and discussed with everyone affected. Don't just assume that a so... Read More

USDA Designates 24 Michigan Counties as Primary Natural Disaster Areas

Yeo & Yeo CPAs & Business Consultants

On November 25, 2015, the United States Department of Agriculture (USDA) designated 24 Michigan counties as primary natural disaster areas due to losses and damages as a result of the many natural disasters in 2015. Farmers in the selected counties are eligible for a low-interest emergency loan through the USDA’s Farm Service Agency, s...

Eric Sowatsky Receives Grain Accounting Certification

Yeo & Yeo CPAs & Business Consultants

Yeo & Yeo is pleased to announce that Eric J. Sowatsky, CPA, CGMA, has completed the Mark-to-Market Grain Accounting course administered by White Commercial Corporation. The specialty course concentrates on proper accounting procedures for grain elevators, with an emphasis on mark-to-market valuations of cash grain and futures contra...