MRPR Blog

Form 1099-K has undergone a series of changes over the past couple of years, and with U.S. Senators introducing legislation that would again alter who has to file a 1099-K, it's once again back in the accounting and tax spotlight.

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.

A new year means brand new changes to your retirement plans via legislation and annual updates from government agencies like the IRS and the Social Security Administration. A typical new year is usually filled with enough changes to keep the team at MRPR on our toes, but 2023 is seeing even more changes than usual, mostly stemming from higher-than-normal inflation and the newly written law, nicknamed SECURE 2.0 Act. Here's everything you need to know to make sure your retirement plans stay on track in 2023.

As 2022 winds down, the same goes for our Senators and Representatives in Congress. And after a midterms election where Republicans took control of the House of Representatives and Democrats maintained control of the Senate, the 117th Congress begins what is known as a lame-duck session, before the new congressional session begins on January 3rd, 2023.

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?

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.