MKR CPA Blog
Explore our monthly updates featuring expert insights on accounting news, retirement tips, and industry-specific content for veterinarians, retail & distribution firms, small businesses, and construction companies.
Tax-Saving Strategies for Small Businesses
As the owner of a small business, you are well aware that taxes are one of the most important topics on which to keep up to date. Making mistakes could mean a higher tax bill, and failing to properly manage your taxes could land your business in trouble. On the other...
Why Your Healthcare Practice Should Offer Flexible Patient Payment Options
Medical debt in the United States outpaces student loans, auto loans, and credit card debt. And with more financial responsibility falling on the patient than ever before, healthcare practices are being forced to come up with new ways to collect money owed — for...
How Retirees Can Use the Safe Withdrawal Rate Method to Avoid Running Through Savings Too Soon
Retirees can determine how much money they can withdraw from their accounts each year without depleting their nest egg prematurely by using the safe withdrawal rate (SWR) method. This approach attempts to balance your expected income needs to live comfortably without...
How the Inflation Reduction Act Could Affect Your Taxes
On August 16, 2022, President Biden signed into law the Inflation Reduction Act. It’s a wide-sweeping bill that addresses climate, health care, and some mix of tax breaks and tax hikes, as well as additional funding for the IRS. Below you’ll find a summary of how the...
How Retailers Can Maximize Operations and Minimize Employee Departure Among the Labor Shortage Crisis
Both small and big companies have been impacted by the labor shortage that has spanned the country since the pandemic. A short-staffed company can lead to overworked and burnt-out employees, dissatisfied customers, and even a decline in sales. Below we’ll discuss how...
How Professional Services Firms Can Maximize Cash Flow
Positive cash flow is obviously critical to the growth and survival of any company. With technology ever-advancing, professional services firms are tasked with refining sales processes, improving transparency, streamlining core operations, and maintaining flexibility...
How to Prepare Your Personal Finances for a Recession
With record high inflation and rising interest rates, an economic recession has been the subject of many conversations lately. Now with two consecutive quarters of a drop in GDP (gross domestic product)—the benchmark many economists use to gauge a recession—the...
How New Businesses Can Weather the Storm of an Economic Downturn
The Covid-19 pandemic gave rise to a surge in Americans starting their own small businesses. Now, two years later, as a possible recession looms amid rising inflation, these business owners are turning their focus to the possibility of a recession. Read on for tips on...
Are You Making These Mistakes with Your Roth IRA?
A Roth IRA is a great vehicle for saving for retirement. Because you pay taxes on money going into your account, you can withdraw funds tax-free in retirement. And unlike other retirement funds, required minimum distributions don’t apply to Roth IRAs, so your money...