Business Consulting

Meeting

5 Standards of Value Every Attorney Should Understand

David W. Schaeffer

There are two common standards of value that are used by valuation analysts that you may be aware of, Fair Market Value and Fair Value. However, when you and your client have determined the need for a valuation, it is important to understand the other standards of value so that you are best able to apply the most appropriate standard for... Read about the 5 standards

Secure

How Secure is QuickBooks Online Data?

Ashley Rabie

Intuit has implemented five major technologies within QuickBooks to keep customers’ data secure while conducting business through QuickBooks Online (QBO). Data backup Each night, Intuit performs backups, and the data is copied to tapes. Periodically, the tapes are moved offsite to a secure location. Each time data is added or... How secure is QuickBooks online data?

Road

Higher Mileage Rate May Mean Larger Tax Deductions for Business Miles in 2019

Yeo & Yeo CPAs & Business Consultants

This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business increased by 3.5 cents, to the highest level since 2008. As a result, you might be able to claim a larger deduction for vehicle-related expense for 2019 than you can for 2018. Actual costs vs. mileage rate Busine... Learn more about the higher mileage rate

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

A Refresher On Major Tax Law Changes For Small-business Owners

Yeo & Yeo CPAs & Business Consultants

The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes. Business owners may, therefore, want to shift their focus to assessing whether they’ll likely owe taxes or get a refund when they file their returns this spring, so they can plan a... Learn more about the refresher on major tax law changes for small-business

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

Tax-Button

Consider All the Tax Consequences Before Making Gifts to Loved Ones

Yeo & Yeo CPAs & Business Consultants

Many people choose to pass assets to the next generation during life, whether to reduce the size of their taxable estate, to help out family members or simply to see their loved ones enjoy the gifts. If you’re considering lifetime gifts, be aware that which assets you give can produce substantially different tax consequences. Multiple t... Learn how to be tax-smart when making lifetime gifts

Meeting

Consider Outsourcing These Four HR Functions

Yeo & Yeo CPAs & Business Consultants

Managing human resource demands can be overwhelming when you have limited personnel. Small businesses are finding that outsourcing some of their HR functions gives them more time to focus on business growth and other opportunities. When deciding which human resources tasks to outsource, here are four areas to consider. Payroll P... Learn the 4 functions