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.
Tips for Veterinary Practice Owners on Developing an Exit Strategy When Ready to Sell
Developing an exit strategy is essential for veterinary practice owners, and you likely need to begin sooner than you think. A well-crafted exit plan ensures the transition is smooth, maximizes the value of your practice, and aligns with both your financial and...
Here Are the Changes Coming to Social Security in 2025
As we approach 2025, several significant changes are on the horizon for Social Security beneficiaries. From cost-of-living adjustments (COLA) to shifts in the full retirement age (FRA), these updates will impact millions of Americans who rely on Social Security as a...
How to Position Your Small Business for Growth and Financial Stability Amid Economic and Political Uncertainty
With less than three months before the 2024 presidential election, inflation remains stubborn and economic uncertainty continues. Both political and economic unpredictability can create volatility that requires businesses to be more strategic with financial...
Construction Cash Flow: Avoid Falling for the Illusion of Profitability (Plus Tips To Boost Profits)
Managing cash flow in the construction industry can be challenging, and it’s crucial to understand the difference between income and cash flow to avoid falling for the illusion of profitability. Many construction businesses may appear profitable on paper, but they...
More Americans Are Sinking Into Debt. Avoid These Mistakes When Climbing Your Way Out
A combination of rising living costs, high inflation, unexpected financial emergencies, and reliance on credit has created a perfect storm for personal debt. In fact, American household debt increased from 16.9 trillion in 2022 to 17.05 trillion in the first quarter...
What To Know About the Recent Federal Regulation That Will Affect Many Small Businesses
The Corporate Transparency Act (CTA), a significant piece of legislation affecting U.S.-based businesses, went into effect earlier this year. This new requirement mandates the reporting of beneficial ownership information to combat unlawful activities like money...
IRS Plans More Audits with Increased Funding. Who Will the Agency Focus On?
Keeping thorough records and documentation can help in the event of an audit. Consulting with qualified tax professionals can also provide guidance and help mitigate the risk of errors on your tax return.
After Ascension’s Cyberattack: How Healthcare Practices Can Improve Cybersecurity
The cyberattack on Ascension serves as a reminder of the vulnerabilities within the healthcare industry as well as the importance of taking proactive measures to safeguard against threats. By prioritizing regular security audits, comprehensive employee training, incident response plans, and strong backup systems, healthcare practices can stay ahead of future attacks.
SBA Unveils New Working Capital Pilot Program for Small Businesses
As the SBA prepares to launch this pilot program, small business owners should stay informed about the latest developments. It’s a good idea to subscribe to SBA newsletters and follow updates on their website. Additionally, the SBA’s Export Finance Managers are expected to provide counseling to lenders interested in participating so they have the knowledge and resources to guide and support small businesses effectively.