MKR Blog
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...
Most businesses these days are looking to cut spending. Accounting firms are in a unique position to not only help their small business clients trim the fat and manage their money, but to do the same for themselves. Before any company can delve into strategic ways to...
Gina Noy offers her clients stress-free tax preparation. It's not often you find "stress-free" and "tax" in the same sentence, especially during busy season, but for Noy, it's a philosophy that carries through her Manhattan-based CPA firm. Noy, who offers tax...
Beginning this year, IRS Taxpayer Assistance Centers (TAC) generally will not accept bulk returns for processing and mailing, particularly when it affects taxpayer services. The IRS hopes to eliminate the practice of taxpayer representatives dropping off completed...
The IRS has issued its annual Dirty Dozen ranking of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. The Dirty Dozen listing, compiled by the...
Lindsay Lohan has found herself in compromising positions before, and now she’s landed in another one. A report has surfaced that the twenty-five-year-old actress, who rocketed to fame in the 2004 film Mean Girls, is on the hook for almost $100,000 in back taxes owed...
By AccountingWEB Staff Time is running out before the payroll tax rate automatically increases in two weeks, and the dispute over how to fund it continues. The tax measure at issue would maintain the payroll tax rate at 4.2 percent for the year 2012 instead of...
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...
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...
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...