Agribusiness

Tax

IRS Confirms Tax Filing Will Open January 28

Yeo & Yeo CPAs & Business Consultants

The IRS has confirmed that it will begin accepting and processing 2018 tax returns on January 28, 2019, and that it will pay tax refunds despite the partial shutdown of the federal government. The IRS said Congress has directed the payment of all tax refunds through a permanent, indefinite appropriation. This year, the deadline to file ... Will issue tax refunds despite government shutdown

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

Key Takeaways from the MICPA Agribusiness Conference

Alex Wilson

Recently I attended the Michigan Association of CPAs Agribusiness Conference and came away with several items to share. The agribusiness industry is going through many changes, some tied to tax reform, and some based on economic and weather changes. The presenters shared their thoughts on the status of the industry in general and, while ... Read more about the takeaways

Update on Agricultural Tariff Battles

Steven Treece

In recent news, the Trump administration stated that a $6 billion bailout has been planned for farmers who have become collateral damage in the current “trade wars” between the U.S. and certain other countries. The U.S. Department of Agriculture said that of the $6 billion payments to begin September 4, 2018, under the Market Facilitation Progra... Learn more

Agricultural Cooperative Taxation – Changes Level the Field

Alex Wilson

By now, most taxpayers are aware of the sweeping changes made with the Tax Cuts and Jobs Act (TCJA) late last year. Within the law were some drastic changes in the way that the income of farmers – especially those who are members of cooperatives – are taxed. When the law first took effect, there appeared to be an unintentional “grain gli... Learn More

Three Questions to Ask Your IT Staff About Cybersecurity

Joe Malott

As a responsible party to the security of your companies data, it boils down to a simple question – when it comes to cybersecurity, how do you know that your organization is secure? Yeo & Yeo Computer Consulting is providing three questions, and a little background about each topic, so you can be confident when reporting to ... Learn More

Unclaimed Property – State of Michigan Filing Requirements

Kristi Krafft-Bellsky

It’s that time of the year when the State of Michigan would like all organizations to look through their bank reconciliations to determine if there are any uncleared checks that have reached a dormancy period as of March 31, 2018, that would require reporting to the state. A general rule of thumb is that the dormancy period is one year f... Learn More