MKR Blog
It happens to even the most organized taxpayers; a missed deadline, a late payment. The IRS just rolled out a program that can automatically clear certain penalties without you lifting a finger. See who qualifies and what to do if a notice still slips through.
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...
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....
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...
Required Minimum Distributions (RMDs) are mandatory withdrawals from certain retirement accounts. They can significantly impact your tax burden and overall financial well-being. In 2024, changes introduced by the Secure 2.0 Act have increased the minimum age for RMDs,...
In response to soaring inflation, the IRS has released higher tax brackets and standard deductions for tax year 2023 and subsequent returns filed in 2024. This means that more taxpayers’ earnings will remain in lower tax brackets, which should reduce their income...
Indianapolis, IN - Daniel L. Kittell, CPA, Managing Partner of MKR CPAs & Advisors, has been named a 2026 Five Star Investment Professional, an honor that recognizes only a select group of financial services professionals in the Indianapolis market for their...
It happens to even the most organized taxpayers; a missed deadline, a late payment. The IRS just rolled out a program that can automatically clear certain penalties without you lifting a finger. See who qualifies and what to do if a notice still slips through.
AI can spot an abnormal finding buried in a routine scan — but what happens next often falls through the cracks. See why detection alone isn’t enough, and what practices need to actually close the follow-through gap.
A 401(k) is a start, not a finish line. Once you’re out of the workforce, you’ll need a plan for turning savings into income, managing taxes, covering healthcare costs, and protecting your legacy. Here’s what a complete retirement plan actually requires.
Key Takeaways: Winning new clients matters, but firms that can't retain them must keep replacing lost revenue before growth is possible. Reliability and follow-through, not just expertise, are what build or break client trust over time. Proactive, consistent...
Key Takeaways: Keeping a gap between income and spending, even as income grows, is the foundational habit behind long-term wealth building. High-interest debt quietly drains money that could otherwise go toward saving and investing — paying it down is one of the best...
Key Takeaways: A Roth conversion moves money from a traditional account into a Roth, taxed now in exchange for tax-free growth and withdrawals later. Converting during a temporarily lower-income year, such as between jobs, can let you convert at a lower tax rate. A...
Key Takeaways: RMDs become mandatory at age 73, and missing one can trigger a penalty of up to 25% of the required amount. A new temporary $6,000 deduction ($12,000 for joint filers) is available for taxpayers 65+ through 2028. Investment gains, pension income, and...
Key Takeaways: Customers judge prices relative to context, not in isolation — comparison and framing shape perceived value. Honest scarcity (real low stock, real deadlines) motivates buyers; manufactured urgency erodes trust. Transparency about why prices are what...
Key Takeaways: The OBBBA made most 2017 TCJA tax cuts permanent, avoiding a scheduled tax increase in 2026. New "no tax on tips" (up to $25,000) and "no tax on overtime" (up to $12,500) deductions are now in effect. The Child Tax Credit rose to $2,200 per child, and...