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.
Employee Retention Tax Credit Opportunities for 2021
The Consolidated Appropriations Act, 2021 (the Act) signed into law by President Trump on Dec. 27, 2020 includes significant modifications to the Employee Retention Tax Credit (ERC) enacted under the CARES Act. The credit originally provided a 50% refundable tax...
Nonprofits are Overlooking Messaging Opportunities in Digital Marketing Strategies
According to a recent study, smaller nonprofits are largely missing opportunities to share their message online. While budgeting is certainly an issue, the benefits of online marketing and an online presence for nonprofits can’t be overstated. Below is a quick guide...
Smart Money Moves and Goals for Financial Progress in 2021
The beginning of a new year has long been associated with starting from a blank slate and setting new goals for the year ahead. While 2020 taught us that plans and goals can quickly veer off course through no fault of our own, maybe 2021 can teach us the value of...
2021 Tax Planning for Construction Firms
Last year construction contractors saw projects suspended indefinitely (or scrapped altogether) and escalated competition in the bidding process, both of which effectively stifled profit margins. It’s safe to say that the construction industry was not spared the...
Business Tax Changes and Extenders in the New Stimulus Package
President Trump recently signed a second stimulus package—called the Consolidated Appropriations Act, 2021 (Act)—into law. The legislation includes over $300 billion in aid for small businesses. Below is a breakdown of some of the business tax changes and extenders in...
How to Tackle Snowball Debt After a Year of Furloughs and Layoffs
For the greater part of 2020, millions of Americans have faced furloughs and layoffs, subsequently relying on credit cards to keep their heads above water. Here’s how to get out from under those ballooning balances. The Coronavirus Effect on Debt When the stimulus...
What’s Included in the Proposed Bipartisan $908 Billion Pandemic Relief Bill?
A group of centrist lawmakers recently revealed an economic relief bill totaling approximately $908 billion. The plan has gained some traction among both congressional Democrats and Senate Republicans, getting talks moving again after Democrats and Republicans have...
What You Should Know About Recent Updates to CARES Act Reporting Requirements for Healthcare Providers
The Coronavirus Aid, Relief, and Economic Security (CARES) Act Provider Relief Fund was initially established to provide funding to healthcare service providers impacted by the COVID-19 pandemic. While the financial support has provided much-needed relief, the...
Retirement Plan Options for Small Businesses to Help Attract New Employees
As a small business employer, signifying your commitment to employees’ long-term financial goals by offering a tax-favored retirement benefit is a solid way to draw in and retain valuable employees. Retirement plans may seem complex and costly, but there are...