Business Consulting

Compilation, Review or Audit – Which One is Best for Your Nonprofit?

Bradley DeVries

When it comes to financial statements, you can engage your CPA to perform varying levels of service, from a compilation, to a review, to an audit. Learn the situations when each may be appropriate for your nonprofit. To first understand what level of service is most appropriate for your situation, you need to understand the differences a... Learn More

Changes Coming for Alimony Tax Deduction

David Jewell

Historically, if an individual paid alimony or separate maintenance to their former spouse, they could deduct on their federal individual income tax return an amount equal to the alimony or separate maintenance payments paid during the year as an “above-the-line” deduction. This kind of deduction allows a taxpayer to directly reduce his ... Learn More

Do You Need to Adjust Your Withholding?

Yeo & Yeo CPAs & Business Consultants

If you received a large refund after filing your 2017 income tax return, you’re probably enjoying the influx of cash. But a large refund isn’t all positive. It also means you were essentially giving the government an interest-free loan. That’s why a large refund for the previous tax year would usually indicate that you should consider re... Learn More

2018 ESA Statements Now Available

Yeo & Yeo CPAs & Business Consultants

2018 Essential Services Assessment (ESA) statements have been generated and are now available to all taxpayers whose Combined Document (Form 5278) information was forwarded to the Department by the local assessor. ESA statements may be accessed via Michigan Treasury Online (MTO) at https://mto.treasury.michigan.gov. For instructions on ... Learn More

A Review of Significant TCJA Provisions Affecting Small Businesses

Yeo & Yeo CPAs & Business Consultants

Now that small businesses and their owners have filed their 2017 income tax returns (or filed for an extension), it’s a good time to review some of the provisions of the Tax Cuts and Jobs Act (TCJA) that may significantly impact their taxes for 2018 and beyond. Generally, the changes apply to tax years beginning after December 31, 2017, ... Learn More

5 Tips & Tricks for Using QuickBooks Online

Megan Taylor

Intuit is encouraging users to move from QuickBooks Desktop to QuickBooks Online (QBO). If you previously used QuickBooks for Mac, the next time you upgrade, QBO will be your only option. The user interface for QBO is quite a bit different from QuickBooks desktop, but it has several nice features. 1.Use it in Chrome By far the best browser ... Learn More

Are You Overwhelmed? Prioritize to Take Control of Your Work Life

Ali N. Barnes

Let’s face it: At some point, we all feel overwhelmed at work. Emails flood our inbox, our calendars run rampant with meetings, crucial deadlines that we’ve known about for months are suddenly imminent, and we’re left feeling stressed with no hope of catching up. If your heart rate just increased simply by thinking about being overwhelme... 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

Ann Arbor SPARK Announces 2018 FastTrack Award Applications

Yeo & Yeo CPAs & Business Consultants

Yeo & Yeo is proud to sponsor Ann Arbor SPARK’s 2018 FastTrack Awards, celebrating the economic prosperity of the greater Ann Arbor region. Since 2010, it has been the firm’s privilege to support this initiative by reviewing and verifying the FastTrack applications. FastTrack is an exciting annual program sponsored by Ann Arbor SPARK, r... Learn More

Should You File Form SS-8 To Ask The IRS To Determine A Worker’s Status?

Yeo & Yeo CPAs & Business Consultants

Classifying workers as independent contractors — rather than employees — can save businesses money and provide other benefits. But the IRS is on the lookout for businesses that do this improperly to avoid taxes and employee benefit obligations. To find out how the IRS will classify a particular worker, businesses can file opt... Learn More