Business Consulting

Ten Quick Ideas for Growing Your Business

Yeo & Yeo CPAs & Business Consultants

Here are 10 quick ideas for growing your business from the Small Business Administration: 1. Open another location. 2. Offer your business as a franchise or similar opportunity. It can result in growth without requiring you to manage a new location. 3. License your product. This can be an effective, low-cost growth med... Learn More

Achieve Sustainable Cost Cutting at Your Organization

Yeo & Yeo CPAs & Business Consultants

Taking costs out of a business can be deceptively easy to do — at least initially. Cutting low-hanging fruit such as providing coffee in break rooms, consulting services, laying off temporary employees or removing a layer of management can result in considerable savings. However, these savings are often not sustainable. Slowly bu... Read More

2 Benefits-Related Tax Credits for Small Businesses

Yeo & Yeo CPAs & Business Consultants

Tax credits reduce tax liability dollar-for-dollar, making them particularly valuable. Two valuable credits are especially for small businesses that offer certain employee benefits. Can you claim one — or both — of them on your 2015 return? Retirement plan credit Small employers (generally those with 100 or fewe... Learn More

10 Facts You Should Know about the Do Not Call Registry

Yeo & Yeo CPAs & Business Consultants

Most Americans hate receiving unsolicited telemarketing calls. Inevitably, they seem to happen at the worst possible times — when you're sitting down to dinner, tuning in to your favorite television show or drifting off to sleep. Fortunately, the Federal Trade Commission (FTC) allows you to sign up for the Do Not Call (DNC) regi... Learn More

Could You Save More by Deducting State and Local Sales Taxes?

Yeo & Yeo CPAs & Business Consultants

For the last several years, taxpayers have been allowed to take an itemized deduction for state and local sales taxes in lieu of state and local income taxes. This break can be valuable to those residing in states with no or low income taxes or who purchase major items, such as a car or boat. But it had expired December 31, 2014. Now t... Learn More

ACA Boosts Popularity of Health Savings Accounts

Yeo & Yeo CPAs & Business Consultants

 The Affordable Care Act (ACA) seems to be making Health Savings Accounts (HSAs) more popular than ever. A recent report issued by Devenir, an HSA industry participant, highlights two key findings: 1. As of June 30, 2015, the number of HSAs climbed 23% from the previous year to 14.5 million, and 2. Account balances jumped 25%... Read More

Another Tax Break for Research Expenses

Yeo & Yeo CPAs & Business Consultants

The research credit isn't the only tax break available for research activities. Section 174 of the tax code allows taxpayers to elect to either: 1) deduct "research or experimental expenditures" or 2) amortize the costs over a period of not less than 60 months. Qualified expenses are limited to the following: In-house wages a... Learn More

Debunking the Myths about Telemarketing Calls to Cell Phones

Yeo & Yeo CPAs & Business Consultants

Don't believe the rumors you've heard about telemarketers calling your cell phone. Placing telemarketing calls to wireless phones is illegal in most cases. The government doesn't maintain a registry for wireless numbers — and it has no plans to establish one in the future — so compiling lists of wireless numbers is expensiv... Read More

The New-and-Improved Research Credit is Now Permanent

Yeo & Yeo CPAs & Business Consultants

The research credit is back — this time for good — and it's better than ever for some small companies. The Protecting Americans from Tax Hikes (PATH) Act of 2015, signed into law by the president on December 18, does much more than extend this credit. Under the PATH Act, the research credit is restored retroactive to Januar... Learn More