MKR Blog
A key approach to minimizing taxes, especially as you near retirement, is to implement tax planning strategies that can help you save money and maximize your retirement savings. Here are some tax-efficient strategies to consider. Contribute to Tax Advantage Retirement...
Filing taxes puts stress on small business owners, because most know that mistakes on business tax returns can affect your business’s success. Here are some common tax mistakes to avoid.
The IRS wants American taxpayers to be prepared for a potentially smaller tax refund in 2023. There are a few contributing factors that prompted the warning from the IRS in a recent statement, and we go over those factors in this new December 2022 article.
As the owner of a small business, you are well aware that taxes are one of the most important topics on which to keep up to date. Making mistakes could mean a higher tax bill, and failing to properly manage your taxes could land your business in trouble. On the other...
There are some valuable tax deductions available for self-employed people. The key is knowing what they are and how they can help reduce your tax bill. Here are some key self-employment tax deductions to remember. Home Office Deductions This deduction allows you to...
The IRS uses a computer program called the Discriminant Function System (DIF) to analyze tax returns and red flag them if they deviate from statistical averages. When a return draws a high DIF score, an agent evaluates it and decides if an audit is necessary. Your...
In late December of 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (the Act), which included the long-anticipated pandemic-related Tax Relief Act of 2020. It also included the Taxpayer Certainty and Disaster Relief Act of 2020, which...
Last year construction contractors saw projects suspended indefinitely (or scrapped altogether) and escalated competition in the bidding process, both of which effectively stifled profit margins. It’s safe to say that the construction industry was not spared the...
On Aug. 28, 2020, as part of COVID-19 relief, President Trump issued a presidential memorandum allowing employers to suspend withholding and paying to the IRS eligible employees’ Social Security payroll taxes from September 1, 2020 through December 31, 2020. The IRS...
The Setting Every Community Up for Retirement Enhancement (SECURE) Act changed the rules for employers on retirement plans, making it easier for employers to offer 401(k) plans and for employees to take part in them. Here’s how. Multiple Employer Plans Known as MEPs,...
Recent surveys reveal that Americans spend hours each week thinking about their finances. Rising prices, mounting debt, and uncertainty about the future all contribute to financial stress. Add in steep housing costs, concerns over tariffs raising the price of goods,...
Small retailers have a rough go competing against big chains and e-commerce giants, but there’s one thing these smaller stores have that Amazon doesn’t: community. Local stores have the opportunity to build connections with their customers. Building partnerships...
A noticeable trend in 2025 points to a resurgence in independent veterinary ownership. In an era dominated by corporate consolidation, 2025 is shaping up to be a turning point — especially for veterinarians ready to reclaim ownership, redefine care models, and build...
As small business owners face continued inflation and rising tariffs, the One Big Beautiful Bill Act (OBBB) could provide critical financial relief for Main Street businesses. By extending key provisions from the Tax Cuts and Jobs Act of 2017 (TCJA), the legislation...
President Trump’s “Big Beautiful Bill” has been making headlines, particularly for what it could mean for older Americans collecting Social Security. While many headlines have suggested that the bill would eliminate taxes on Social Security benefits, that’s not...
Transferring an SBA loan isn’t a straightforward process. Whether you’re selling your company or planning for a family succession, understanding how to transfer an SBA loan and what’s legally allowed is critical for staying compliant and protecting your finances. In...
A 401(k) is often thought of as a set-it-and-forget-it kind of account—set a contribution amount, bank on a company match, and let the market do its thing. But if you haven’t checked in on your plan lately, you might be missing out on some significant new features....
Winning new business isn’t just about offering a competitive price. It’s about creating a well-structured and convincing proposal that shows why you’re the best choice for the job. Whether your company is established or still growing, improving your bidding process is...
As we move through 2025, construction businesses are navigating a mix of challenges and fresh opportunities. A steady economic rebound, higher levels of government investment, and rising demand for infrastructure, housing, and commercial development are driving growth...
As the Federal Reserve continues to hold interest rates at elevated levels to combat inflation, consumers face both challenges and opportunities. While borrowing has become more expensive, savers can take advantage of higher yields and rethink their spending habits....