MRPR Blog

On August 24th, President Biden announced a plan to cancel thousands of dollars of student loan debt for millions of Americans. The plan included forgiving $10,000 in debt for those earning less than $125,000 per year and $20,000 for those that received Pell grants. 

Section 174 of the Internal Revenue Code has undergone a recent and major change, which may have a lasting impact on how your company's accounting department addresses research and experimental expenditures. Before we dive into the changes, let's take a quick refresher on Section 174. 

We're excited to announce that MRPR has made Crain's 2022 Cool Places to Work list in Michigan for the sixth year in a row. MRPR is honored to be recognized by our employees for our fun and flexible workplace culture.

On August 16th, President Joe Biden signed the Inflation Reduction Act of 2022 into law, earmarking $740 billion for the reduction of carbon emissions, corporate tax reform, and domestic energy production and manufacturing.

The lease accounting standard ASC 842, which was postponed for non-public companies due to COVID-19, also known as Leases (Topic 842), is going into effect for many companies this year. So, what is ASC 842 and what does it mean for your company going forward if you plan on adopting the standard?

Internships offer young professionals an opportunity to see what business is like outside of the classroom. Today's interns expect inclusion and real-world exposure to daily activities. They're there to do more than just take meeting notes and fetch coffee --they're there to learn. That's why we designed our internship program to closely mimic an entry-level accountant position with our firm, including exposure to all aspects of accounting and client services.

We're excited to announce that MRPR has made Crain's 2021 Cool Places to Work list in Michigan. MRPR ranks 72 among 100 companies recognized by their employees for having outstanding workplace culture.

Retirement is one of the biggest milestones in your life, yet so many don’t pay much attention to retirement accounts. It is not unusual to hear clients say they toss aside their 401(k) statements because they feel like they can’t do anything about it. That couldn’t be further from the truth. Working with wealth management and accounting professionals can help you understand your retirement accounts and create a financial plan that is in line with your retirement goals.

Below are items to consider with both your MRPR CPA and the Avantax Planning Partners^SM financial planning consultant.

We recommend that our clients start their financial planning by creating a financial snapshot:

According to Savology, a written financial plan can lead to better money behavior. Their research found that households with a financial plan are 2.5x more likely to save enough for retirement. That’s a pretty good incentive, but there’s still icing on the cake. Of those who do set financial goals, 83% feel better about their finances after just one year. And yet 72% of Americans don’t have a written plan. So what's keeping them from financial planning?

For those of you updating your budgets for 2021, we’re providing an overview of the price increases you can expect for Medicare in 2021. Fortunately for most, costs aren’t growing much in the new year, but it’s important to keep on top of changes and how they affect your finances.