FASB Delays CECL for Certain Entities

On May 16, three YHB partners participated in an ABA Accounting Administrative Committee meeting to discuss with regulators, the SEC, PCAOB and FASB the challenges community banks are facing in implementing CECL. Today, our voice was heard. Upon a majority vote of the Financial Accounting Standards Board (FASB) members, the FASB voted to delay the required implementation date… Read more »

Disruptive Technology

We are constantly being told that new technologies are going to disrupt business as we know it. We have been told that block chain technology is going to fundamentally change how we account for and conduct transactions. We have been told that artificial intelligence and machine learning are going to drastically reduce our workforce. The list of what… Read more »

Will You Need to Amend Your 2018 Tax Return?

Most taxpayers believe that when they file their taxes each year that they are done. The exceptions to this would be receiving corrected information, forgetting to include an item of income or claiming a missed deduction. For the 2018 tax year, there is one more reason. There were several provision in the IRS tax code… Read more »

2019 ELITE Award Winners

Each year YHB staff nominate their peers to be recognized for their outstanding performance in 4 different categories. YHB is pleased to share this year’s winners and a brief interview with them.

The Dreaded Tax Notice – What To Do Next

The relief of filing your tax return can be short lived if a tax notice is received. Technology and additional filing requirements have increased the amount of data the IRS and your home state has to compare to your tax filing. Although your tax filing may not be wrong, it may not match up to… Read more »

New Tax Law Impacts Gold Star Families

An unintended consequence of a provision in the Tax Cuts and Jobs Act (TCJA) that went into effect last year was the heavy increase in the taxation of military survivor benefits received by a child of U.S. service member who died while serving in a conflict (Gold Star family member).   Below I will explain… Read more »

YHB Represents Community Banks in Washington, DC

In May of 2019 YHB Principals, Kim Belcher, Justin Crowder and Jesse Meadows, had the pleasure of representing community banks across the  country on a panel for the American Bankers Association (ABA). Also, on the panel were representatives from each banking regulatory agency. The panel intended to address questions and concerns related to CECL practice both from… Read more »

Tax Tips for Your Child’s Summer Job

One of the rights of passage for many high school and college students is a summer job. Not only does it put a little extra cash in their pockets and teach them work ethic, it provides them with their first opportunity to make some tax decisions. This article will provide a little guidance and some… Read more »

YHB Welcomes Alex Fleming and Julie Carper Hay as Partner

Winchester, VA (June 1, 2019) — The shareholders of Yount, Hyde and Barbour (YHB) have voted to admit Alex Fleming and Julie Carper Hay as principals into the Firm effective June 1, 2019. “We are proud to welcome Alex and Julie as partners of YHB. Alex’s tax expertise and strong leadership contributed to the smooth… Read more »

College financing may be an integral part of your estate plan

The staggering cost of college makes it critical for families to plan carefully for this major expense, and in many cases grandparents want to play a role. As you examine the many financing options for your grandchildren, be sure to consider their impact on your estate plan.  Make direct paymentsA simple, but effective, technique is… Read more »