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.
The Policy Option that Could Have the Most Impact on Reducing Annual Hospital Spending
Escalating healthcare costs have been problematic in the U.S. for a long time. A range of proposals have been presented in an effort to undertake the issue, including single-payer healthcare and more free market solutions with a goal of boosting competition. RAND...
The Three Reports Your Business Needs to Help Benchmark Financial Performance
Business financial statements demonstrate the source of a company’s revenue, its assets and liabilities, how money was spent, and how the company manages cash flow. They also help managers, employees, investors, and lenders assess the company’s performance at the end...
How Your Small Business Can Sustain Long-Term Growth with a Healthy Cash-Flow
A positive cash flow—when more cash is flowing into your business than out of your business—is a sign of financial wellness and efficient management. It is a vital piece of the puzzle to sustaining long-term growth. Read on for some strategies to help maintain a...
How Construction Firms Can Make the Payroll Process More Accurate and Efficient
Payroll is often one of the most complex administrative tasks for a construction firm. At any given time, you may have employees at differing pay rates working across a range of job sites. By streamlining your payroll process, you will save time and ensure that...
The Pros and Cons of Borrowing Against a 401(k) for a Down Payment on a Mortgage
If you’re in the market for a new house, you might be wondering if you can tap into your workplace 401(k) to cover the down payment. The short answer is yes, but there are definite disadvantages in doing so. Let’s take a look at some of the pros and cons to this...
How Does Biden Plan to Change the Way the US Taxes Unrealized Capital Gains at Death?
President Biden campaigned on a promise to accomplish his progressive agenda by never raising taxes on citizens making less than $400,000 annually. However, his recent proposal to tax unrealized capital gains at death may impact a broader group. Here’s what to know....
Why a Roth IRA Might Be the Best Retirement Account for Beginners
One of the easiest ways to start saving for retirement is through a Roth IRA, and some would say it’s the smartest move a beginner saver can make. A Roth IRA could be a better choice than a 401(k) or a traditional IRA for a few key reasons. Roth IRA: A Primer A Roth...
How Veterinary Clinics Can Add to Their Bottom Line with a Retail Business
Clients consistently turn to veterinarians for advice and assurance on products, pet food, and pharmaceuticals for their pets, so a retail business that can add to your clinic’s bottom line is a natural step for many. Below are some tips to help implement a retail...
What’s Included in President Biden’s Proposed Tax Overhaul?
President Biden’s “Build Back Better” policy initiative, which targets economic recovery, includes a $1.8 trillion American Families Plan (AFP) and a $2.3 trillion American Jobs Plan. The administration plans to fund both initiatives through a Made in America Tax Plan. Below is an overview of what’s included in this far-reaching tax overhaul.