When Can You Deduct Moving Expenses?

Some people think you can always deduct moving expenses on your federal income tax return. Not true. However, you can deduct some moving expenses if you meet the applicable eligibility rules.   Good News, Bad News The good news is allowable moving expense write-offs are “above-the-line” deductions. As such, you don’t have to itemize these costs on your… Read more »

James Snyder Joins School of Accounting Guiding Executive Board

Leesburg, Virginia (December 29, 2015) — Yount, Hyde and Barbour (YHB) is proud to announce that principal James Snyder, CPA, has accepted the opportunity to join the School of Accounting Guiding Executive (SAGE) Board for the James Madison University (JMU) College of Business. The School of Accounting at JMU prepares students for active and engaging… Read more »

YHB Gives – This Holiday Season

This Holiday Season YHB employees had the privilege of contributing time, people and resources to various organizations in the communities we work and live in. We are thankful for the opportunity to help make this Holiday Season a little brighter for those in need.

Harless and Gochenour Selected to Attend VSCPA

YHB Manager Claire Harless and Senior Supervisor Katrina Gochenour have been selected to attend the Virginia Society of Certified Public Accountants (VSCPA) Leadership Academy. This highly selective and exclusive learning opportunity is reserved for only 25 qualified CPAs a year. The VSCPA Leadership Academy provides an opportunity for young CPAs to expand their leadership competencies,… Read more »

Furlong named Young Professional of the Year

YHB Manager Megan Powell Furlong awarded Culpeper Chamber of Commerce’s 2015 Young Professional of the Year. Furlong was named at the chamber’s annual banquet in early November. Furlong is active in the Culpeper community serving on the public schools’ Career Tech Education Advisory Council, sitting president of the chamber’s Young Professionals group and active in… Read more »

Never Too Small For Internal Controls

Is it possible for a small organization to still have a system of effective internal controls? Although it may not seem possible at times, because of limited resources and limited staffing, a system of effective internal controls is not only possible but is vital for a small organization. In a 2014 study by the Association… Read more »

IRS Warns Citizens of Elaborate Scam

By Derek Gomes, The Winchester Star WINCHESTER — The Internal Revenue Service warns taxpayers that scammers are perpetrating a new scheme to defraud them. An emerging trend involves scammers sending correspondence with an “authentic looking [IRS] letterhead” to scare residents into making a false tax payment or providing personal financial information, according to an agency… Read more »

Worker Classification Policy Could Have a Big Impact on Contractors

Worker classification has long been a point of contention between the Internal Revenue Service and business and individual taxpayers.  The issue is now being addressed by the state of Virginia in a new policy that was implemented effective July 1, 2015. Governor Terry McAuliffe issued an executive order in 2014 based on a three-year study… Read more »

Best Practices for Board Members

A not-for-profit’s board of directors is responsible for developing and reviewing the organization’s mission and purpose as well as providing overall leadership and strategic direction. Boards typically consist of at least three members (but not more than 15) who are willing to commit their time and are genuinely invested in the organization’s mission. Many times,… Read more »