Tax Planning


Follow IRS Rules to Ensure you Receive Your Charitable Tax Deductions

Yeo & Yeo CPAs & Business Consultants

If reducing your taxable estate is an important estate planning goal, making lifetime charitable donations can help achieve that goal and benefit your favorite organizations. In addition, by making donations during your lifetime, rather than at death, you can claim income tax deductions. But some of your charitable deductions could be den...

Tax Break

Bipartisan Budget Act of 2018 Prolongs Tax Breaks

Yeo & Yeo CPAs & Business Consultants

The Bipartisan Budget Act of 2018, enacted on February 9, contains a number of tax breaks for both individuals and businesses. The Act retroactively extended through 2017 over 30 “Extender Provisions,” reinstating for 2017 tax credits and deductions that had expired on December 31, 2016. INDIVIDUAL EXTENDER PROVISIONS The Act extended the ...


IRS Warns of New Scam — Falsely Filed Returns with Refunds Deposited into Taxpayer’s Account

Yeo & Yeo CPAs & Business Consultants

The Internal Revenue Service issued a new warning for taxpayers to be alert for a quickly growing scam involving erroneous tax refunds being deposited into taxpayers’ bank accounts. Criminals have put a new twist on an old scam: They file fraudulent tax returns and use taxpayers' real bank accounts for the deposit of the fraudulent refund...

Family Photo

Families With College Students May Save Tax on Their 2017 Returns With One of These Breaks

Yeo & Yeo CPAs & Business Consultants

Whether you had a child in college (or graduate school) last year or were a student yourself, you may be eligible for some valuable tax breaks on your 2017 return. One such break that had expired December 31, 2016, was just extended under the recently passed Bipartisan Budget Act of 2018: the tuition and fees deduction. But a couple ...


Tax Reform: Pass-through Deduction Flowchart under the New Tax Code

Yeo & Yeo CPAs & Business Consultants

The Tax Cuts & Jobs Act has introduced a new deduction for pass- through entities. This deduction may have one of the largest impacts on taxpayers of any provision in tax reform. This deduction may also be one of the most complicated provisions in the law. The deduction is generally 20 percent of qualified business income of any pass-th...


Credentialing Hot Topics

Yeo & Yeo CPAs & Business Consultants

In the world of credentialing, you can always expect changes in the process or variations between insurance carriers. To avoid interruptions in your practice’s reimbursement and revenue cycle, you’ll want to become familiar with the most recent changes. Staying up to date can be challenging, so we’ve compiled a few tips to keep your enro...


Take Advantage of Tax Savings with Your Required Minimum Distribution

Kelly Brown

With the passage of the Tax Cuts and Jobs Act of 2017, fewer taxpayers will be itemizing, opting instead for the higher standard deduction—now $24,000 for married filing jointly. What does that mean for individuals making charitable deductions? Their contributions may no longer provide a tax benefit. Fortunately, the tax code provi...

Apple Money

Is the Price Right? Estimating the Fair Value of a Municipality’s Investments

Yeo & Yeo CPAs & Business Consultants

Management Must Assume Responsibility for Fair Value Estimating the fair value of a municipality’s investments — particularly pension and other postemployment benefit plan investments held in trust — can be a difficult and subjective process. Many municipalities rely on third-party pricing sources such as broker/dealers or valuat...


Tax Reform Resources

Yeo & Yeo CPAs & Business Consultants

The Tax Cuts and Jobs Act of 2017 fundamentally changed the tax landscape for individuals and businesses. Yeo & Yeo has been at the forefront of helping clients understand how they are affected by these changes and the new tax planning opportunities available. To help keep you informed, we have added several Tax Reform Resources ...

Tax Cuts and Jobs Act: Key Provisions Affecting Individuals

Yeo & Yeo CPAs & Business Consultants

On December 20, Congress completed passage of the largest federal tax reform law in more than 30 years. Commonly called the “Tax Cuts and Jobs Act” (TCJA), the new law means substantial changes for individual taxpayers. The following is a brief overview of some of the most significant provisions. Except where noted, these changes are eff... Learn More