Education

Four Key Ways to Utilize Your Auditor for More than Just the Audit

David R. Youngstrom

Audits have a stigma that leads people to believe that audits (and the auditors) are only a requirement to check off the annual business cycle. Hopefully, you have a great relationship with your auditor that allows the audit process to go smoothly. Once the financial statements have been released, the audit submitted to the State, and the Board ... Learn More

5 Tips for Fraud Prevention in School Districts

Molly Fish

School districts are as vulnerable to fraud as organizations in the private sector. The types of fraud most often perpetrated in the education industry include procurement schemes, corruption (conflicts of interest, bribery, illegal gratuities and economic extortion) and skimming. The Association of Certified Fraud Examiners’ most recent rep... Learn More

IRS Encourages 'Paycheck Checkup' for Taxpayers to Check Their Withholding

Yeo & Yeo CPAs & Business Consultants

Taxpayers who have questions about the Tax Cuts and Jobs Act have several resources that will help answer questions. The legislation, passed in December 2017, changes many areas of the tax law. Here are some of the resources on IRS.gov that will help individual taxpayers and businesses. New Tax Reform Web Page. The IRS created the Tax ... 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

Promotion

Yeo & Yeo Promotes Molly Fish

Yeo & Yeo CPAs & Business Consultants

Yeo & Yeo is pleased to announce that Molly R. Fish, CPA, has been promoted to senior manager and has been named the leader of the firm’s Education Services Group. Molly has eight years of experience in providing audit and assurance services with an emphasis on school districts and local government entities. She is a frequent presen... Learn More

Bank

What is a 529 Plan and How Can One Benefit Me?

Rebecca A. Millsap

A 529 plan is a tax-advantaged way for families to save money for higher education expenses. It allows you to make current year after-tax contributions to the plan while the funds accumulate tax-free. To avoid taxation on the growth, the funds must be utilized for qualifying education expenses. Qualifying education expenses include tuiti...

Know Before You Hire! Professional Standards for School Nutrition Program Employees

Brian R. Dixon

It has come to our attention through state monitoring reviews, and from questions throughout the school nutrition industry, that school districts need to be aware of new standards when hiring nutrition program employees. The Healthy, Hunger-Free Kids Act of 2010 established professional standards for state and local school nutrition prog... Learn More