Changes to Fiduciary Activity Reporting

Brian R. Dixon

In January 2017, the Governmental Accounting Standards Board (GASB) issued the final standard on identifying and reporting fiduciary activities under Statement No. 84. The statement identifies four fiduciary funds that should be reported: 1) pension (and other employee benefit) trust funds, 2) investment trust funds, 3) private-purp... Learn More

Your Construction Business Has Outgrown QuickBooks. Now What?

Chelsea Baumgardner

How do I know if I’ve outgrown QuickBooks? No matter what industry your business operates in, it is likely that you can only use QuickBooks for so long. It’s a great solution for a lot of companies. However, many companies get to a point where QuickBooks is not the best solution anymore. How do you know if your company has reached that poin... Learn More

How Does Section 179 Apply to Vehicles?

Kristy Brown

Many business owners have heard of the Section 179 deduction in relation to capital assets that are purchased. However, special rules are in effect regarding Section 179 as it relates to the purchase of vehicles. Read on to see if your vehicle purchase will qualify for the Section 179 deduction. For a majority of passenger vehicles that ... Learn More

HSAs and Greater Than 2 Percent Shareholders

Kristy Brown

Health savings accounts (a.k.a. HSAs) are becoming more and more common in the workplace. With an HSA, both the qualifying employee and the employer can contribute to the employee’s HSA. HSAs have many appealing elements – three of those attributes are: 1)When a qualifying individual contributes to his or her HSA, the employee will be able t... Learn More

Yeo & Yeo Financial Services Launches New Website

Michael Espinoza

Yeo & Yeo Financial Services has launched a new, mobile-friendly website that offers information to help you make important decisions about taxes, investments, education, estate and retirement planning. Resources including articles, videos, calculators and presentations to help you meet your financial goals. A client portal allows yo... Learn More

Thorough Due Diligence can Protect Your Acquisition from Fraud

Yeo & Yeo CPAs & Business Consultants

In today’s rough-and-tumble world of mergers and acquisitions (M&As), buyers need to get to know business sellers and their executives, test their representations about asset condition and financial performance, and screen for common fraud schemes. Here’s why. Whose side are they on? Without adequate M&A due diligence, unwar... Learn More

Participate in Yeo & Yeo’s 2017 National Manufacturing Outlook Survey

Yeo & Yeo CPAs & Business Consultants

Yeo & Yeo CPAs & Business Consultants is asking for manufacturing company owners and managers to participate in the second Yeo & Yeo / Leading Edge Alliance (LEA) National Manufacturing Outlook Survey. The survey results will provide valuable benchmarking data for manufacturers. This short (< 25 questions) survey asks abou... Participate Today

2 Ways Spouse-Owned Businesses can Reduce Their Self-Employment Tax Bill

Yeo & Yeo CPAs & Business Consultants

If you own a profitable, unincorporated business with your spouse, you probably find the high self-employment (SE) tax bills burdensome. An unincorporated business in which both spouses are active is typically treated by the IRS as a partnership owned 50/50 by the spouses. (For simplicity, when we refer to “partnerships,” we’ll include i... Learn More

Investors: Beware of the Wash Sale Rule

Yeo & Yeo CPAs & Business Consultants

A tried-and-true tax-saving strategy for investors is to sell assets at a loss to offset gains that have been realized during the year. So if you’ve cashed in some big gains this year, consider looking for unrealized losses in your portfolio and selling those investments before year end to offset your gains. This can reduce your 2017 tax... Learn More

Accelerate Your Retirement Savings with a Cash Balance Plan

Yeo & Yeo CPAs & Business Consultants

Business owners may not be able to set aside as much as they’d like in tax-advantaged retirement plans. Typically, they’re older and more highly compensated than their employees, but restrictions on contributions to 401(k) and profit-sharing plans can hamper retirement-planning efforts. One solution may be a cash balance plan. Define... Learn More