by Amanda O'Brien | Accounting News, Business Growth, News, Newsletter, Small Business
The U.S. Small Business Administration (SBA) has introduced a new program as part of its ‘Made in America’ initiative to boost domestic manufacturing and help small businesses expand. The initiative focuses on two critical areas: cutting regulatory red tape and expanding access to financing for small business owners.
Cutting $100 Billion in Regulatory Burden
The SBA’s initiative includes a $100 billion plan, led by its Office of Advocacy, to cut outdated regulations that limit small manufacturers’ growth and global competitiveness.
To ensure that small business owners have a voice in the process, the SBA has also introduced a Red Tape Hotline—a new channel for entrepreneurs and manufacturers to report excessive or unnecessary regulations directly. Business owners can share real-world examples of regulatory challenges and suggest changes that would streamline compliance without sacrificing safety or quality standards.
This feedback loop is essential for shaping future policies that truly reflect the needs of small businesses. For many manufacturers, fewer regulatory obstacles can lead to faster project timelines, reduced operating costs, and increased opportunities for innovation.
Expanded Loan Access for Manufacturing Growth
In addition to regulatory reform, the SBA is making it easier for small business owners to secure financing. The agency is revising loan eligibility guidelines and increasing flexibility regarding how funds can be utilized—especially for real estate, construction, and equipment investments. These changes aim to reduce the barriers many small manufacturers face when obtaining capital for expansion or facility upgrades.
Loan programs like the SBA 504 and 7(a) loans are expected to play a central role in this expansion. These programs already offer favorable terms for fixed-asset purchases, and the new initiative will streamline the application process while expanding eligibility to a broader range of business types and credit profiles.
Why It Matters for Small Business Owners
This initiative provides small manufacturers a timely opportunity to scale their operations and invest in long-term growth. Rising material costs, global competition, and ongoing supply chain issues have created an increasingly complex environment for small business owners. By reducing regulatory hurdles and increasing access to capital, the SBA empowers manufacturers to invest in automation, expand their facilities, and create more U.S.-based jobs.
The initiative also reflects a broader push toward reshoring American manufacturing—a trend that gained momentum during the pandemic and continues to shape economic policy. With increased tools and support from the federal government, small businesses are better positioned to lead that movement.
How to Take Advantage
If you’re a small business owner in the manufacturing space, now is a good time to evaluate your financing needs and explore long-term investments. You can:
- Contact your local SBA district office or lending partner to learn about new loan opportunities
- Submit feedback through the Red Tape Hotline to help shape smarter regulations
- Explore SBA-backed loan options like the 504 or 7(a) program for equipment or facility upgrades
As the SBA continues to roll out this initiative, staying informed and proactive could mean new growth opportunities and fewer administrative challenges in the future.
by Amanda O'Brien | Accounting News, News, QuickBooks
When choosing whether to invest in a desktop or online QuickBooks product, we would suggest you evaluate three differences in the products.
1. Accessibility
If you want the option to access your QuickBooks file from anywhere with internet connection, you will want QuickBooks Online (QBO). If you prefer to have your file on one laptop or computer in your office, you may want the desktop product.
- If you use an Apple computer, you will want QBO since Intuit has discontinued the Mac product. If you are on a PC, you may want to use a desktop product.
- If you need more than five users in the file at one time, you may want QuickBooks Online. If you need less than five users in the file at one time, you may prefer the desktop product.
- If you want your accountant to have the ability to access your file to make changes or consult at any time throughout the year, you may prefer QBO. If you only need to get your accountant a file quarterly or annually, you may prefer the desktop product.
2. Appearance
The interface and processes of the two products are significantly different. They can both perform the same tasks, but the process of performing those tasks requires different procedures. Learning new processes can be a little difficult, so we suggest you stick with the product with which you are more comfortable.
3. Payment for Product
Last, there is a difference in the way you pay for your QuickBooks product. To purchase the QuickBooks desktop product is a one-time fee. We do suggest that every three years you upgrade your product because Intuit regularly sunsets old products. QBO is a monthly subscription that is continually updated and supported by Intuit.
Overall, both QuickBooks products are great to use. If you need help selecting which product better suits your needs, we would be happy to assist you in making the decision.
by Amanda O'Brien | Accounting News, News, QuickBooks, Resources
Summer is the perfect time to get your QuickBooks cleaned up. MKR provides hands-on training and consultation services for QuickBooks during this time of year. It is our pleasure to conduct an on-site visit to assist with any questions or concerns you have in working with your QuickBooks file(s).
We provide consultation by using our accountants’ tools. These tools can help reconcile bank accounts, troubleshoot payroll and bank imports, correct accounts receivable and accounts payable, and update inventory. We provide full-service training if you are new to the QuickBooks software, or partial-service training if you have been using QuickBooks but need assistance with just one area.
Our training is customized to your needs and your business. We walk through what you need from your QuickBooks and customize the best way for you to achieve those goals with your software. With QuickBooks products constantly changing, we are here to keep you updated on the modifications for your software. Now is the perfect time to take advantage of the assistance we provide, so that come tax time you are ready. Please do not hesitate to call!
We have three certified QuickBooks ProAdvisors. Learn more about what they can do.
by Amanda O'Brien | News, QuickBooks, Resources
QuickBooks, created by intuit, is an accounting software that many businesses use to track their financial information including invoices, bills, paychecks, and inventory. To become a certified QuickBooks ProAdvisor, one must complete a series of comprehensive tests to show their knowledge and skills with the QuickBooks software. Here at MKR CPA’s we have three certified QuickBooks ProAdvisors: Jean Miller, Amanda O’Brien, and Tiffany Evans.
Jean Miller has been a certified QuickBooks ProAdvisor since 2006. She is the manager of the accountants in the office and she has worked in the accounting industry for 34 years. She is certified on QuickBooks Desktop and QuickBooks Online. In our office she is our inventory and payroll specialist, and works on time consuming corrections, data reviews, and consultations. She just recently acquired her Advanced Desktop Certification.
Amanda O’Brien has been a certified QuickBooks ProAdvisor since 2011. She is a staff accountant and has worked in the accounting industry for 8 years. She is certified on QuickBooks Desktop and advance certified on QuickBooks Online. In our office she specializes in QuickBooks Online and QuickBooks for Mac. She works with, but not limited to, veterinary companies, nonprofits, and service-based companies. She also just recently acquired her Advanced Desktop Certification.
Tiffany Evans has been a certified QuickBooks ProAdvisor since 2012. She is a staff accountant and has worked in the accounting industry for 5 years. She is certified on QuickBooks Desktop and QuickBooks Enterprise. In our office she specializes in bookkeeping services and QuickBooks Enterprise. She works with, but not limited to, hardware companies, real estate investors, and product and inventory driven companies. She just recently acquired her Advanced Desktop Certification as well.
Is your QuickBooks ready for a cleaning? Learn about the tools to help you clean your QuickBooks.
by Amanda O'Brien | Accounting News, Audit and Accounting, Bookkeeping, Community, CPA, IRS, News, Tax Consulting, Tax Preparation - Individual
Nearly three years ago, the IRS launched the tax return preparer oversight program and seeds were planted in the landscape of tax return preparation services. Today, those seeds are starting to sprout.
In June, the IRS estimated there are 717,161 PTIN holders, many of which (212,975, or 29.7%) are CPAs, outnumbering Enrolled Agents (42,895) and attorneys (31,189) combined. While CPAs have dominated the regulated tax preparation arena, that landscape is about to change. More and more people are completing the final step to becoming a Registered Tax Return Preparer, or RTRP (they have until 12/31/13 to pass the competency exam). Currently, there are 4,893 RTRPs. That leaves an estimated 338,127 “provisional preparers” who may join the RTRP ranks.
That means more competition is coming and it will influence the public perception of tax return preparers. Unfortunately, the public doesn’t really understand the difference between a CPA and other tax return preparers. We have all seen the advertisements by the big box tax preparation and software chains that inflate the qualifications of their employees. They often compare them to CPAs or perhaps they feature a CPA in the ad, implying that every customer representative will have similar qualifications.
Some believe that RTRPs will leverage their new designation as some form of implied association with or endorsement by the IRS, thus giving them an advantage in the marketplace. While the IRS has put in restrictions on advertising that leverage the RTRP designation (thanks to AICPA advocacy), they cannot possibly enforce them completely. And they can’t police informal or non-commercial promotions. If CPAs wait to counter such marketing efforts, they may find themselves in the same position as a political candidate trying to counteract a negative ad: while the ad may be false, it is hard to change someone’s mind after the fact.
That’s why it is important for CPAs to start telling their stories better, more often and everywhere they can think of. And they need to start now. Clients need to hear messages about the value of a CPA directly from their CPA. They also need to understand how they are more than just a tax return, that their CPA is available year-round and can help them plan for life’s significant milestones such as buying a house, planning for retirement, saving for college and much, much more. If we don’t start tooting our own value horn louder and longer, who will?
When do you need to start building your new value proposition? Yesterday. And how do you do this? Start by developing a value-centric firm culture, then educating your staff on the importance of value based client communications.
The AICPA has developed the Tax Practitioner Toolkit (available free) to help members better define their value and communicate it to current and prospective clients. A Toolkit Implementation Checklist is included, so you can get started right away.
Once your firm masters its story so it is infused in every client contact, networking presentation, or prospective client meeting, it will become part of who you are and what your firm represents for its clients. Once you know your value and live it every day, clients will never have to guess. They’ll automatically know that their CPA is the premier provider of tax services and they would never trust their finances to anyone else.
