Blog

Handshake

How Entrepreneurs Must Treat Expenses On Their Tax Returns

Yeo & Yeo CPAs & Business Consultants

Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as you know, 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 t... Learn how entrepreneurs must treat expenses on their tax returns

Manufacturing

The Perfect Manufacturing Storm: 7 Ways to Weather It

Yeo & Yeo CPAs & Business Consultants

In the current political climate, just about the only thing manufacturers can be certain about is continuing uncertainty. Everything from changes to foreign trade policies, to new tariffs, to military actions threaten to disrupt smooth operations in the manufacturing sector. To complicate matters, there's no clear timeframe for when (or if)... Learn the 7 ways

Records

Records Retention Guidelines to Remember During Spring Cleaning

Yeo & Yeo CPAs & Business Consultants

Warm weather and rainy days bring the urge to purge. But before you clean your file cabinets or declutter your computer files, it's important to review these guidelines. Federal Tax Records Most tax advisors recommend that you retain copies of your finished tax returns indefinitely to prove that you actually filed. Even if you don't keep th... Learn more

Fraud

Look Out for These Five Fraud Perpetrators

Amy Buben

The Embezzler. The Common Thief. The Hacker. The Inventor. The Glutton. No, these aren't cartoon villains. They're all-too-real occupational fraud perpetrators who fleeced their employers of thousands — or even millions — of dollars. Although we've attached the names to actual criminals in cases reported by the U.S. Justice D... Look out

Tax-Planning

Three Questions You May Have After You File Your Return

Yeo & Yeo CPAs & Business Consultants

Once your 2018 tax return has been successfully filed with the IRS, you may still have some questions. Here are brief answers to three questions that we’re frequently asked at this time of year. Question #1: What tax records can I throw away now? At a minimum, keep tax records related to your return for as long as the IRS can a... Learn the three questions

Award

Yeo & Yeo Recognized Among West Michigan’s 2019 Best and Brightest Companies to Work For

Yeo & Yeo CPAs & Business Consultants

Yeo & Yeo CPAs & Business Consultants, has been named one of West Michigan’s Best and Brightest Companies to Work For by the Michigan Business & Professional Association for the fifteenth consecutive year. “We are thrilled to be named among the top companies in West Michigan again,” said Carol Patridge, CPA, managing principa... West Michigan Best and Brightest

Family

Life Insurance Can Be a Powerful Estate Planning Tool For Nontaxable Estates

Yeo & Yeo CPAs & Business Consultants

For years, life insurance has played a critical role in estate planning, providing a source of liquidity to pay estate taxes and other expenses. Today, the gift and estate tax exemption has climbed to $11.4 million, so estate taxes are no longer a concern for the vast majority of families. But even for nontaxable estates, life insurance ... Life insurance is a powerful tool

nonprofit

Receiving Donations from Network for Good

Michael Evrard

Although Network for Good (NFG) has been established for several years, recently the nonprofit community has seen the popularity of the online service rise. If you received a check from Network for Good unexpectedly, you probably had several questions. Why am I getting this money? Who did it come from? Is there a catch if I cash the check? I... Learn more

light bulb road

Create a “Road Map” For Your Estate Plan

Yeo & Yeo CPAs & Business Consultants

No matter how much effort you’ve invested in designing your estate plan, your will, trusts and other official documents may not be enough. Consider creating a “road map” — an informal letter or other document that guides your family in understanding and executing your plan and ensuring that your wishes are carried out. Navigating ... Road Mapping Your Estate Plan