Blog

Year-End Tax and Financial To-Do List for Individuals

Yeo & Yeo CPAs & Business Consultants

With the dawn of 2019 on the near horizon, here’s a quick list of tax and financial to-dos you should address before 2018 ends: Check your FSA balance. If you have a Flexible Spending Account (FSA) for health care expenses, you need to incur qualifying expenses by December 31 to use up these funds or you’ll potentially lose them. (Some plan... Read the to-do list

Impact of Tax Reform on Trusts – Major Deduction Changes Suspended Until 2025

Chelsea Baumgardner

Trusts and estates have been allowed a variety of miscellaneous itemized deductions. However, the Tax Cuts and Jobs Act (TCJA) has changed these deductions. Miscellaneous itemized deductions (MIDS) are generally costs that would be incurred by individuals as well as estates and trusts. MIDS have historically been deductible on both indi... Learn more about the impact of tax reform on trusts

Education

Crowdfunding in Education

Taylor Diener

Crowdfunding, also known as crowdsourcing, was originally used by entrepreneurs and artists to raise money for creative projects and business endeavors; however, it has increasingly become a way for teachers to obtain classroom supplies or funding for projects. Education-focused crowdsourcing sites have been introduced to help teachers fill the ... Learn more about crowdfunding

Clapping

Yeo & Yeo Honors Employees for Longevity

Yeo & Yeo CPAs & Business Consultants

Yeo & Yeo recognized 18 associates across the firm and its affiliates for years of dedicated service at the firm’s annual holiday celebration held at Horizons Conference Center in Saginaw. Thomas Hollerback, President & CEO, Saginaw, isCEO for all of Yeo & Yeo’s nine offices and affiliates, was honored for 35 years of servic... Learn more

Business Team

2019 Payroll Changes

Christine Porras

Prepare now for the following payroll changes that will take effect on January 1, 2019, and also consider some actions to take before year-end. Be aware that a few directives – including the federal mileage rate, and the State’s new minimum wage and Earned Sick Leave Act – will soon be finalized. Watch Yeo & Yeo’s website and future ... See the 2019 payroll changes

Try These Farm Management Practices to Maximize Profits

Alex Wilson

With the advancements in technology – ranging from newer and more efficient machinery, to being able to run your farm from your phone – farmers have more opportunities today than ever before to keep their costs low. Today’s young farmers, many of whom have attended a secondary school specializing in agriculture, have been exposed to thes... Learn More

Tax

Treasury Warns of New Collections Scam

Yeo & Yeo CPAs & Business Consultants

Scammers are Attempting to Collect Past-due Tax Debts with Fake Letters Michigan taxpayers with past-due tax debts should be aware of a new scam making the rounds through the U.S. Postal Service, according to the Michigan Department of Treasury. In the scheme, taxpayers are sent what appears to be a government-looking letter about an overdue... Learn how scammers are attempting to collect past-due tax debts with fake letters

Deadline

2019 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers

Yeo & Yeo CPAs & Business Consultants

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. J... View the Tax Calendar

Forms

New W-4 Form Still in the Works

Yeo & Yeo CPAs & Business Consultants

The familiar W-4 Employee's Withholding Allowance Certificate hasn't undergone many significant changes in recent years. However, as the Tax Cuts and Jobs Act (TCJA) completely overhauled the tax rules for individuals, the IRS has been hard at work revising the W-4. This past summer, the agency released a couple of drafts of the new ver... Learn about the new w-4 form