Our community is our foundation and our clients are our friends. From all of us at Yeo & Yeo, we look forward to seeing you very soon. Until then, stay strong. #YeoStrong #MichiganStrong
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A Message from Yeo & Yeo - We Miss You!
With fall arriving, it’s time for businesses to start thinking about year-end tax strategies. It’s also time to think about the fourth quarter 2020 tax filing deadlines.
YEOANDYEO.COM
2020 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers
The COVID-19 crisis has put unprecedented pressure on businesses to provide customer service that’s friendly and flexible. Make sure yours is top-notch.
YEOANDYEO.COM
Prioritize Customer Service Now More Than Ever
Staff in Ann Arbor celebrated Mira Trpkovski's birthday by decorating her workspace. Happy birthday, Mira! 🎂🎉
If you receive the diagnosis of a life-threatening disease, there are several steps you can take to quickly shore up your estate plan and provide financial peace of mind for your family.
YEOANDYEO.COM
Estate Planning When Time is Short
Michigan Association of CPAs
September 17 at 2:05 PM ·
The #MICPA congratulates the Special Tax Task Force as this year’s recipients of the Outstanding Task Force Award.
It’s always difficult to select from so many outstanding volunteers but this group has truly gone above and beyond in collectively lending their expertise and time to provide key information for the advancement of the #CPA profession.
Chair – Leon C. LaBrecque - Sequoia Financial Group, Steven C. Dilley - Federal Tax Workshops, Lynn A. Gandhi - Foley & Lardner LLP, Sam Hodges - Sam Hodges YOUR TAX Trouble Shooter, Jared Johnson - Deloitte, Tammy J. Moncrief - Yeo & Yeo CPAs, Stuart M. Sakwa - Silverman, Kaplan & Sakwa, Gary Schwarcz - Couzens Lansky Fealk Ellis Roeder & Lazar PC, Audrey M. Victor - Rehmann, Bob Weins - Insights3
Thank you all for your hard work and ongoing efforts!
Join us October 8th, 2020 to celebrate and be entered to win $500: www.MICPA.motowndigital.com
We are excited to announce our newest Yeo Young Professionals, Kendra Drewyor (Kalamazoo) and Meg Warner (Alma)! We look forward to Kendra and Meg’s contributions as valuable members of the YYP Team!
The FASB issued simplified rules for reporting long-term insurance contracts in 2018. But insurers have struggled to make the changes during the #COVID19 crisis. As a result, the effective date has been postponed for a second time in less than a year.
YEOANDYEO.COM
More Time: FASB Delays Long-term Insurance Standard… Again
Congratulations to Tammy Moncrief on receiving the Outstanding Task Force Award from the Michigan Association of CPAs!
YEOANDYEO.COM
MICPA Honors Yeo & Yeo’s Tammy Moncrief as Member of Outstanding Task Force
The COVID-19 crisis has put unprecedented pressure on businesses to provide customer service that’s friendly and flexible. Make sure yours is top-notch.
YEOANDYEO.COM
Prioritize Customer Service Now More Than Ever
October = #PSL + #Halloween + #CybersecurityAwarenessMonth. What are you doing to keep the internet safer and more secure? #BeCyberSmart
The passive activity loss rules can be complex and trip up some taxpayers. Here are the rules.
YEOANDYEO.COM
Understanding the Passive Activity Loss Rules
We would like to congratulate Kyle Richardson on being named the newest leader of the Yeo & Yeo Young Professionals! Kyle is based out of the firm's Auburn Hills office and we are looking forward to his contributions to the continued success of the Young Professionals Team!
Our Midland office decorated pumpkins and lined them up at our entrance for clients who drop off or pick up accounting work during the whole month of October. Clients are able to enjoy the decorations and vote for their favorite design!
Before audit season starts, consider how a conflict of interest could negatively impact your financial statements.
YEOANDYEO.COM
Avoiding Conflicts of Interest with Auditors
Interested in reducing your 2020 tax liability? There’s still time to take these year-end tax planning steps.
YEOANDYEO.COM
Unusual Year Steers Year-end Tax Strategies
The #COVID19 crisis has put an increased emphasis on mobile business technology. Make sure yours is well-protected.
YEOANDYEO.COM
Reinforce Protection of Your Company’s Mobile Devices
What tweaks might be needed to your year-end tax planning now that the presidential election is over?
YEOANDYEO.COM
Consider Reevaluating Your Tax Plans Based on the Outcome of the Presidential Election
The #CARESAct provides that any forgiven #PPP loan amount should be excluded from gross income for federal tax purposes. But does not expressly address the tax treatment of expenses paid with the forgiven funds. Businesses have been left to wonder whether they could not only receive tax-free funding but also potentially deduct the expenses paid with that funding for a double benefit.
YEOANDYEO.COM
IRS Confirms Nondeductibility of PPP-funded Expenses
Getting a letter from the IRS that your tax return is being audited may strike fear into the hearts of business owners. But the more you know about IRS audits, the better you can fare.
YEOANDYEO.COM
The Easiest Way to Survive an IRS Audit is to Get Ready in Advance
Employees pay Social Security tax on their wages up to the current tax year’s “wage base.” The Social Security Administration just announced the base amount for 2021.
YEOANDYEO.COM
The 2021 “Social Security Wage Base” is Increasing
As the end of 2020 approaches, now is a good time to think about planning moves that may help lower your tax bill for this year and possibly next. Yeo & Yeo's Year-end 2020 Tax Guide provides action items that may help you save tax dollars if you act before year-end.
YEOANDYEO.COM
Year-end 2020 Tax Guide
Data shows massive increases in both the frequency of #ransomware attacks and the ransom demand with #Maze and #Ryuk leading the way.
YEOANDYEO.COM
Holy Moly, Ransomware Dominates 41% of All Cyber Insurance Claims in H1 2020
Which asset costs must be capitalized, how long will an asset provide value and which depreciation method is appropriate? Click the link for answers to common questions on reporting property, plant, and equipment.
YEOANDYEO.COM
Accounting for Property, Plant and Equipment Assets
Members of our Flint office did a check presentation to All About Animals Rescue on behalf of the Yeo & Yeo Foundation. We are proud to assist in their continuous efforts stop pet homelessness before it starts. The Yeo & Yeo Foundation was created as a way for our employees to give back to charitable causes across the communities we serve in Michigan.
Financial planning can help you achieve your goals by evaluating your whole financial picture, then outlining strategies tailored to your individual needs and available resources. Learn more about organizing the pieces of your financial picture.
An IP PIN is a six-digit code that helps prevent identity thieves from filing fraudulent tax returns using your personally identifiable information. Sing up with #IRS at: https://hubs.ly/H0DTX3z0
Filing your tax return early will get you any refund early and may protect you from tax identity theft. Here’s why.
YEOANDYEO.COM
One Reason to File Your 2020 Tax Return Early
Yeo & Yeo CPAs updated their info in the about section.
