MKR Blog
The Latest Tax Implications of the Affordable Care Act Update (Obamacare) Did you know the health care law actually created two new taxes to help pay for the cost of the ACA? The first of the two taxes is the Net Investment Income Tax (NIIT). It is a new Medicare tax...
Nearly three years ago, the IRS launched the tax return preparer oversight program and seeds were planted in the landscape of tax return preparation services. Today, those seeds are starting to sprout. In June, the IRS estimated there are 717,161 PTIN holders, many of...
Many American families are struggling to make ends meet and save for their future needs, according to a report from the Consumer Federation of America (CFA) and Certified Financial Planner Board of Standards, Inc. (CFP Board), but those with a financial plan do better...
The true cost of public employee pensions will become clearer under changes approved June 25 by the accounting standards-setter for state and local governments ? the Governmental Accounting Standards Board (GASB). The GASB has approved two new standards that mark a...
In response to the new requirements imposed by the Foreign Account Taxpayer Compliance Act (FATCA) and the proposed regulations promulgated thereunder, the IRS has prepared two new withholding certificates: Form W-8BEN, Certificate of Foreign Status of Beneficial...
A new survey conducted by Rasmussen Reports for the Consumer Federation of America ? the COUNTRY Financial Security Index – shows a gap between what Americans think they're spending and what's happening in reality. Only 9 percent of the 3,000 respondents of the survey...
In a recent decision that considers the authority of the IRS to issue retroactive regulations, the Supreme Court ruled in United States v. Home Concrete that the IRS may not apply an extended six-year limitations period in certain tax shelter cases. The extended...
To commemorate National Financial Literacy Month, a national telephone poll of 1,005 adults was conducted by Harris Interactive on behalf of the American Institute of CPAs (AICPA). The purpose of the survey was to find out what Americans would most likely forego in a...
In an effort to jump-start the US economy and create more jobs, both the House and Senate passed the Jumpstart Our Business Startups (JOBS) Act, and President Obama signed the act into law April 8, 2012. With bipartisan support, the bill is designed to make it easier...
By David H. Ringstrom, CPA QuickBooks Online, a cloud-based accounting solution for small businesses, has experienced 40 percent growth over the past year; it now has 280,000 users. More and more small business owners are reaping the benefits of anytime, anywhere...
Every veterinary practice deals with the client who shows up unannounced with a sick or injured pet, with no appointment and no call-ahead notice. You’ve already got a full schedule for the day. What now? Walk-ins don’t have to throw your whole day off. With systems...
If you’re nearing retirement and thinking about staying in the workforce, even part-time, you’re not alone. But if you plan to collect Social Security while still working, it’s important to understand how your earnings could affect your benefits. Here’s what you...
Few things create more stress for a small business owner than receiving a notice from the IRS. A tax debt can quickly become overwhelming, but the worst thing you can do is nothing. The good news is that IRS debt doesn’t have to derail your business. The key is...
What builds customer loyalty? Sure, clever campaigns, major sales, and successful product launches can build loyalty, but more often, real loyalty is built in quieter ways. It’s built over time through small, everyday actions that prove your reliability and...
With high inflation, high gas prices, and high mortgage rates, it’s no wonder Americans feel like saving for the future is currently an uphill battle. Financial anxiety is up, and many Americans are cutting back on their 401(k) contributions. But for millions of...
The construction industry needs to bring 349,000 new workers in 2026 just to keep labor supply and demand in balance. That’s according to the Associated Builders and Contractors (ABC). And most of that demand is coming from the need to replace retiring workers....
If you’ve been sleeping on the Roth 401(k), it’s time for a second look. Yes, they used to come with that inconvenient drawback known as the Required Minimum Distribution (RMD), where you had to withdraw money on a set schedule, whether you needed it or not. But with...
Telehealth is long past being just a pandemic workaround. It’s now a core part of how healthcare practices deliver care. But simply offering virtual visits isn’t enough. The real value comes from how well telehealth is built into everyday operations. If you want to...
When it comes to reinvesting in their businesses, small business owners are pros. Buying equipment, hiring employees, and upgrading systems tend to come naturally. But setting money aside for retirement? That often gets put in the “later” category. Here’s the problem...
Key Takeaways Hourly billing rewards time, not results. The traditional billable hour model creates a misalignment between client and firm. Clients want efficiency, but firms earn more when work takes longer. That tension is prompting a shift toward alternative fee...