MKR Blog
Whether a small business owner is working with an accountant or on their own, it’s critical to establish a bookkeeping process in order to mitigate the possibilities of unexpected cash flow problems. Tracking finances and transactions provides stability for your...
The IRS uses a computer program called the Discriminant Function System (DIF) to analyze tax returns and red flag them if they deviate from statistical averages. When a return draws a high DIF score, an agent evaluates it and decides if an audit is necessary. Your...
Congress passed the Paycheck Protection Program Flexibility Act (PPPFA) on June 5, 2020, amending several provisions in the original PPP loan program. Along with granting business owners more flexibility and time to spend the PPP loan proceeds, the Act permits funds...
With the learning curve of the first tax filing season in the TCJA era behind us, year-end tax planning is a perfect time to incorporate those lessons learned. Here is a general overview of some steps business owners can take in their year-end tax planning....
With additional guidance and regulations released consistently since President Trump signed the Tax Cuts and Jobs Act of 2017 into law, one thing remains clear: strategic tax planning is key to lowering a business’s total tax liability. Read on for some moves on...
When doing your taxes, the goal is to maximize the tax credits and deductions for which you’re eligible. But tax credits are worth more than deductions with the same value, so knowing the differences between the two will help you save money on taxes. Key Difference...
As a small business owner, the more you can stay organized, improve daily operations, control business expenses, and generally make life as an entrepreneur run a little more smoothly, the more proficient and prolific your business will become. Below are some top-rated...
With their first plan shot down in Congress, the GOP has released another, broader tax framework as the Trump Administration attempts to shift the tax code. This new plan has many elements that Congress will need to hash out before anything is signed into law, but...
The dust has ultimately settled from the somewhat turbulent Presidential Election of 2016 and preparations are fully underway for our new President’s January 20th inauguration. The transition period from President Obama to President Trump is in full swing with staff...
About 150,000 residents in the State of Indiana have received a letter from the Department of Revenue saying that they owed more on their taxes, but the state is admitting that many of those who received the letters don't owe anything. If you think that you received...
Transferring an SBA loan isn’t a straightforward process. Whether you’re selling your company or planning for a family succession, understanding how to transfer an SBA loan and what’s legally allowed is critical for staying compliant and protecting your finances. In...
A 401(k) is often thought of as a set-it-and-forget-it kind of account—set a contribution amount, bank on a company match, and let the market do its thing. But if you haven’t checked in on your plan lately, you might be missing out on some significant new features....
Winning new business isn’t just about offering a competitive price. It’s about creating a well-structured and convincing proposal that shows why you’re the best choice for the job. Whether your company is established or still growing, improving your bidding process is...
As we move through 2025, construction businesses are navigating a mix of challenges and fresh opportunities. A steady economic rebound, higher levels of government investment, and rising demand for infrastructure, housing, and commercial development are driving growth...
As the Federal Reserve continues to hold interest rates at elevated levels to combat inflation, consumers face both challenges and opportunities. While borrowing has become more expensive, savers can take advantage of higher yields and rethink their spending habits....
If you use Venmo, PayPal, or CashApp to accept payments for freelance work, side gigs, or online sales, you’ll want to pay close attention to this year’s tax changes. New tax rules are making it harder to fly under the radar, even if you only earn a few thousand...
As markets continue to experience turbulence driven by renewed tariffs, trade tensions, and global uncertainty, you might be rethinking how you save for retirement. One increasingly popular strategy is converting traditional retirement savings into Roth accounts....
As the healthcare landscape continues to evolve, the U.S. Department of Health and Human Services (HHS) is implementing a major overhaul of the Health Insurance Portability and Accountability Act (HIPAA) in 2025. These changes reflect shifting priorities in data...
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...
The professional services industry is undergoing a significant transformation in 2025, driven by rapid advancements in AI and automation. As firms seek greater efficiency, enhanced decision-making, and improved client service, AI-powered solutions are reshaping how...