Government

Electronic Transactions – Are You Protected?

Michael L. Rolka

Internal controls fight technology-related fraud The ability to accept and make online payments offers obvious benefits to municipalities that are under constant time and budgetary pressures. It may also be subject to fraud attempts that can dodge traditional internal controls. Fortunately, measures are available to combat these risks. Maki... Learn More

The Latest on Occupational Fraud: Who the Perps Are

Yeo & Yeo CPAs & Business Consultants

Occupational fraud is an unfortunate reality for just about every employer, governmental entity or otherwise. But you might be able to reduce the risk of costly losses if you understand some of the common traits of fraud perpetrators. The 2016 Report to the Nations on Occupational Fraud and Abusefrom the Association of Certified Fraud Examiners ... Learn More

CD Rates – Don’t Fall Asleep at the Wheel

Mark R. Perry

Interest rates remain painfully low – historically low – but they are rising slowly. Governmental units should review the earning rates on their certificates of deposit (CD) to ensure they are not at the low end. As I recently discovered, there is a wide range in the low category; between a high of 1.05 percent to a low of .... Learn More

Accelerated Filing Deadline for 2016 Form W-2 and Form 1099

Yeo & Yeo CPAs & Business Consultants

Employers and small businesses will soon face a new filing deadline for Form W-2 reporting wages and Form 1099-MISC reporting non-employee compensation. This new deadline was enacted by the PATH Act of 2015 to help the IRS verify the legitimacy of tax refunds before issuing them. Beginning with the 2016 forms (those filed in 2017),... Learn More

Update on ADARS Act 51 Report

Jamie Rivette

Yeo & Yeo's Government Services Group would like to make you aware of recent changes in the Act 51 Distribution and Reporting System (ADARS). Investment Reporting Tool Must be Completed First Effective for the March 31, 2016, year-end entities and later that complete an ADARS Act 51 Report, the Michigan Department of Transportation (M... Learn More

The Four Cornerstones of Internal Controls

Christopher Sheridan

Employees of most small to mid-size businesses are seen as part of the family, and business owners could never imagine that their family would steal from them. In fact, employees pose the greatest fraud threat in today’s economy. In its 2016 Report to the Nations on Occupational Fraud and Abuse, the Association of Certified Fraud Exami... Avoid Fraud

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