MKR Blog
Inheriting an IRA might feel like a financial win, but the rules today are different than they were just a few years ago. If you’re not up to date, an unexpected tax bill could catch you off guard. Here’s what changed, and how to plan around it. Changes Made by the...
If you owe back taxes and you’re expecting a refund this year, you might be wondering if the IRS will keep it. In some cases, yes. In others, no. Whether the refund reaches your bank account depends on several factors. If you have unpaid federal tax debt, the IRS can...
President Trump’s One Big Beautiful Bill (OBBB) could change your tax return in real ways. The bill offers potential relief for parents raising kids, workers earning tips or overtime, and seniors on fixed incomes. There are a few key areas to pay attention to. Here’s...
President Trump’s One Big Beautiful Bill (OBBB) introduced several tax changes designed to boost take-home pay and simplify the tax code. Some major adjustments include nontaxable income, gift limits, estate tax exemption, and overtime deductions. Here’s a look at...
The One Big Beautiful Bill (OBBB) signed by President Trump includes a federal cap on the state and local tax (SALT). Until 2024, SALT was capped at $10,000 under the 2017 Tax Cuts and Jobs Act (TCJA), but the OBBB increased it to $40,000. The cap will rise by 1% each...
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...
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...
After Donald Trump’s win in November, taxpayers are wondering how a second Trump term could reshape U.S. tax policy. Trump’s first term saw sweeping changes under the Tax Cuts and Jobs Act (TCJA) of 2017. With key provisions of that legislation set to expire in 2025,...
A crucial tax benefit for businesses is on the verge of expiring. The Qualified Business Income (QBI) deduction, a significant component of the 2017 Tax Cuts and Jobs Act (TCJA), is set to end on December 31, 2025. Read on as we go over how this deduction works and how its impending expiration could affect small businesses.
Discover essential tax-saving tactics for self-employed individuals. From choosing the right business structure to maximizing deductions and retirement accounts, this guide offers insights into reducing tax liabilities and retaining more income while ensuring compliance with tax regulations.
Inheriting an IRA might feel like a financial win, but the rules today are different than they were just a few years ago. If you’re not up to date, an unexpected tax bill could catch you off guard. Here’s what changed, and how to plan around it. Changes Made by the...
The retail landscape has been reshaping since the pandemic, and what seemed like temporary changes have now solidified into permanent shifts in how consumers shop and what they expect from retailers. Here are the key trends shaping retail this year. Value-Oriented...
If you owe back taxes and you’re expecting a refund this year, you might be wondering if the IRS will keep it. In some cases, yes. In others, no. Whether the refund reaches your bank account depends on several factors. If you have unpaid federal tax debt, the IRS can...
President Trump’s One Big Beautiful Bill (OBBB) could change your tax return in real ways. The bill offers potential relief for parents raising kids, workers earning tips or overtime, and seniors on fixed incomes. There are a few key areas to pay attention to. Here’s...
Running a veterinary clinic means juggling patient care, staff needs, and business operations. Technology can help ease that load, and in 2026, several trends are beginning to emerge for better efficiency, security, and staff and client support. Here are the...
Health savings accounts (HSAs) are one of the best tools for saving on healthcare costs. And beginning this year, more Americans than ever will qualify for HSAs, thanks to the One Big Beautiful Bill (OBBB), which was passed last July. Read on to learn what’s changing,...
When you retire, you don’t have to move your 401(k) right away, and for many retirees, leaving it where it is could be a smart move. Employers are increasingly adding features that make staying in the plan more appealing. Why? Partly because when employees with large...
The construction industry enters 2026 facing both persistent headwinds and emerging opportunities. Rising material costs, ongoing labor shortages, and policy uncertainty continue to challenge business owners. But at the same time, there’s an undercurrent of guarded...
When it comes to increasing the value of a small business, focusing on top-line growth won’t give you the whole picture. Revenue alone doesn’t always equal value, and a bigger business isn’t always a better one. If your long-term goal is to build a valuable business...
The Trump administration enacted new tariffs on lumber and kitchen cabinets, adding pressure to construction budgets. The tariffs apply a 10% duty on softwood lumber and a 25% levy on imported kitchen cabinets. By 2026, the cabinet tariff is set to double to 50%. As a...