Tax-Smart Options for Your Old Retirement Plan When You Change Jobs

Yeo & Yeo CPAs & Business Consultants

There’s a lot to think about when you change jobs, and it’s easy for a 401(k) or other employer-sponsored retirement plan to get lost in the shuffle. But to keep building tax-deferred savings, it’s important to make an informed decision about your old plan. First and foremost, don’t take a lump-sum distribution from your old employer’s r... Learn More

Tax Impact of Investor vs. Trader Status

Yeo & Yeo CPAs & Business Consultants

If you invest, whether you’re considered an investor or a trader can have a significant impact on your tax bill. Do you know the difference? Investors Most people who trade stocks are classified as investors for tax purposes. This means any net gains are treated as capital gains rather than ordinary income. That’s g... Read More

IRS Proposes Regulations Restricting Certain Valuation Discounts Used in Gift & Estate Transfers

Yeo & Yeo CPAs & Business Consultants

On August 2, 2016, the U.S. Treasury issued proposed regulations under Internal Revenue Code Section 2704 that place new restrictions on the common practice of realizing valuation discounts on transfers of family-controlled entities. The Treasury believes these regulations are necessary to close a tax loophole in what it perceives to be an un... Determine If You Need To Act

Succession Planning for Farm Families

Alex Wilson

Ninety-seven percent of all farms in the United States are family-owned, but the vast majority of those operations do not have a succession plan in place. In today’s agribusiness environment, it is crucial to be proactive in terms of planning, because nothing is guaranteed. Succession planning can be a very emotional process for all th... Learn How You Can Plan

Three Mutual Fund Tax Hazards to Watch Out For

Yeo & Yeo CPAs & Business Consultants

Investing in mutual funds is an easy way to diversify a portfolio, which is one reason why they’re commonly found in retirement plans such as IRAs and 401(k)s. But if you hold such funds in taxable accounts, or are considering such investments, beware of these three tax hazards: High turnover rates. Mutual funds... Learn More

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

Stock Market Volatility Can Cut Tax on a Roth IRA Conversion

Yeo & Yeo CPAs & Business Consultants

This year’s stock market volatility can be unnerving, but if you have a traditional IRA, this volatility may provide a valuable opportunity: It can allow you to convert your traditional IRA to a Roth IRA at a lower tax cost. Traditional IRAs Contributions to a traditional IRA may be deductible, depending on your modified ad... Learn More

Insuring Your Business with a Buy-Sell Agreement

Michael Espinoza

Life insurance is designed to help protect a household from the financial hardships that may follow the untimely death of a primary wage earner. But how will a death affect a small business? One way of safeguarding a business is to create a buy-sell agreement. A buy-sell agreement is a contract between different entities within a corpo... Learn More

QSB Stock Offers 2 Valuable Tax Benefits

Yeo & Yeo CPAs & Business Consultants

By investing in qualified small business (QSB) stock, you can diversify your portfolio and enjoy two valuable tax benefits: 1. Tax-free gain rollovers. If within 60 days of selling QSB stock you buy other QSB stock with the proceeds, you can defer the tax on your gain until you dispose of the new stock. The rolled-over gain reduces... Learn More