Work-Life Balance at Yeo & Yeo

September 20, 2016 by Yeo & Yeo

Authored by John W. Haag Sr., Principal & Career Advocacy Team Leader

I love waking up in the morning with my family! I used to be a ‘6:00 in the morning get to work kind of guy’, now there is nothing I enjoy more than having a bowl of cereal with my two boys and a cup of coffee with my wife before the work day starts. We work together to get the kids off to school and it just seems to get all of our days off to a better start.

At Yeo & Yeo, our primary purpose is to position our employees to best serve their families, communities, clients and the firm, while providing a gratifying ...

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ACA Employer Reporting Can Be Easier

September 15, 2016 by Yeo & Yeo

Consider Yeo & Yeo for Preparing Form 1095

Under the Affordable Care Act, Applicable Large Employers are required to file Form 1095 along with the respective transmittal Form 1094 early next year. The IRS was lenient in assessing penalties for incorrect or incomplete information reported in 2016, for the 2015 calendar year. However, there is no room for error this year.

If you completed the reporting yourself last year, you know how confusing it can be.

Yeo & Yeo can simplify compliance by providing Form 1095 preparation services that are efficient and cost-effective. Companies that may benefit most from this service include those with:

  • More than 50 full-time and full-time equivalent employees
  • ...

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Career Development Support at Yeo & Yeo

September 14, 2016 by Yeo & Yeo

Authored by Cara Newby, Talent Manager

Imagine walking into work on your first day at your accounting firm. What do you picture? Do you feel nervous? Do you feel confident?

The first day of starting a new job can be as if you just stepped into a whole new world. At Yeo & Yeo, we understand this because we have been there. We do everything we can to make you feel comfortable, confident and welcomed.

Beginning on the first day that someone joins our firm, we jump-start a complete plan to ensure that they are provided with all the essential information they will need to be successful and enjoy their time at Yeo & Yeo. Within the first six months of...

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Documentation is the Key to Business Expense Deductions

September 13, 2016 by Yeo & Yeo

If you have incomplete or missing records and get audited by the IRS, your business will likely lose out on valuable deductions. Here are two recent U.S. Tax Court cases that help illustrate the rules for documenting deductions.

Case 1: Insufficient records

In the first case, the court found that a taxpayer with a consulting business provided no proof to substantiate more than $52,000 in advertising expenses and $12,000 in travel expenses for the two years in question.

The business owner said the travel expenses were incurred ”caring for his business.“ That isn’t enough. ”The taxpayer bears the burden of proving that ...

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Training is Vital at Yeo & Yeo

September 8, 2016 by Yeo & Yeo

Authored By Wendy Thompson, CPA, Training Manager

For those considering a career in accounting, in-demand skills and traits include leadership, team-oriented, attention to detail and interpersonal skills. Yeo & Yeo’s Training Department provides the technical and professional development training accountants need to excel in the profession and provide high-level expertise to their clients.

Each year, between busy seasons, members of each career level take a day out of the office for...

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Tax Impact of Investor vs. Trader Status

September 6, 2016 by Yeo & Yeo

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?


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 good if your net gains are long-term (that is, you’ve held the investment more than a year) because you can enjoy the lower long-term capital gains rate. However, any investment-related expenses (such as margin interest, stock tracking software, etc.) are deductible only if you itemize ...

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