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A Business Owner’s Key to Success: Focusing on the Big Picture

David W. Schaeffer

Why do so many businesses continuously struggle to make ends meet, while others appear to thrive year after year? Why do some business owners seem to have an unlimited amount of time to take family vacations and play active roles in their communities, while others work an excessive amount of hours and are seemingly chained to their business? On... Learn the Keys to Success

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

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

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