MKR Blog
Since early March, the COVID-19 pandemic has been making a substantial financial impact on millions of people across the country. With 22 million jobless claims in just one month and a slowly moving economy, many homeowners are left wondering if their properties will...
The U.S. Government has already started sending stimulus payments to Americans from the $2 trillion coronavirus stimulus bill known as the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was signed into law on March 27, 2020. But there is still some...
On March 27 the CARES Act was signed into law in response to the COVID-19 pandemic. Below is an overview of the types of assistance available to small businesses in an effort to lessen some of the economic impact. Paycheck Protection Program (PPP) Loan This is a $350...
Whether you’re working with a robust tax refund, a work bonus, or an inheritance of some kind, here’s a list of positive moves to make with that windfall. Evaluate Your Debt There’s “bad” debt and “good” debt. Good debt is an investment that will grow in value or...
A new scoring model from Fair Isaac Corp., the company behind the FICO score, is set to be implemented later this year by Equifax and other major credit bureaus. The popular score is commonly used by lenders to determine your eligibility and interest rate for certain...
As an American worker, relinquishing part of your income to taxes is standard practice, but once you move out of the workforce, much of your retirement income is subject to taxes as well. Below are some possible taxes you could face in retirement. Social Security...
What happens when you file your taxes and discover that you owe money to the IRS? What are your options? What about when the amount owed is greater than you can afford at the moment? Luckily, there are several options for both scenarios. Before we get into the...
The Internal Revenue Service (IRS) recently released a new document clarifying the new rules related to section 199A. If you're unfamiliar with 199A, this section is a part of the tax code that references a new deduction of up to 20 percent of qualified domestic...
Two committees of the American Institute of CPAs (AICPA) - the Professional Ethics Executive Committee (PEEC) and the Accounting and Review Services Committee (ARSC) - have extended deadlines on exposure drafts of proposed revisions of existing requirements for...
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...
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...
If you're self-employed or earn income without tax withholding, you’re likely required to pay quarterly estimated taxes. Missing these payments can result in penalties and interest charges from the IRS, but don’t panic—you have options to correct the situation and...
What you choose to do with your tax refund can significantly impact your long-term financial health. Instead of splurging, consider using this extra cash to strengthen your finances. Smart strategies, such as building an emergency fund, paying off high-interest debt,...
Medicare is undergoing significant changes in 2025, impacting costs, prescription drug coverage, telehealth access, and caregiver support. Retirees should prepare for these updates to manage their healthcare expenses effectively. Below, we break down the key Medicare...
After a period of workforce reductions and aggressive cost-cutting measures, major retail companies are shifting toward optimization strategies—investing in technology, process improvements, and operational efficiencies that enhance productivity without sacrificing...
The Trump administration’s tariffs on key trading partners, including Canada, Mexico, and China, could have far-reaching consequences for U.S. consumers. With a 25% tariff on Canadian and Mexican goods, a 10% tariff on Chinese imports, and a lower 10% tariff on...
As veterinary medicine continues to evolve, 2025 promises to be a transformative year. Industry professionals face emerging legislation, possible new roles, energized investor interest, and shifting dynamics in the pet insurance market. Here are the top trends shaping...
Tax season 2025 is here, and staying on top of important deadlines is essential for avoiding late fees and penalties. Knowing key dates like the federal income tax filing deadline, quarterly estimated tax payment due dates, and extensions can help you stay organized...
Running a small business in 2025 presents both challenges and opportunities. To stay ahead of the competition, you must adopt a proactive approach to planning and execution. By focusing on the following strategies, you can set your business up for success this year...
For construction companies, growth and profitability often hinge on that company’s ability to overcome progress barriers. Whether it’s delays in project timelines, inefficiencies in communication, or outdated practices, construction firms need innovative solutions to...