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Answering Your Student Loan Forgiveness Questions

Posted by MRPR on Oct 24, 2022 9:35:06 AM

 

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. 

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Topics: Tax Topics

What's Changing with Section 174 Research Expense Deductions in 2022?

Posted by MRPR on Sep 6, 2022 10:00:00 AM

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. 

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Topics: News

MRPR Makes Crain's Cool Places to Work 2022

Posted by MRPR on Aug 31, 2022 2:53:16 PM

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.

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5 Big Takeaways from the Inflation Reduction Act

Posted by MRPR on Aug 30, 2022 12:00:00 PM

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.

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Topics: News

ASC 842 and Why It Matters for Private Companies

Posted by MRPR on Jul 27, 2022 9:11:59 AM

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?

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Topics: Tax Topics, News

Passing The Mic To Our Interns: Inside MRPR

Posted by MRPR on Jun 3, 2022 12:53:54 PM

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.

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Topics: Insider

​MRPR Makes Crain's Cool Places to Work 2021

Posted by MRPR on Aug 23, 2021 12:22:21 PM

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.

 

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Topics: News

Does Your Retirement Plan Align With Your Retirement Goals?​

Posted by MRPR on Jun 30, 2021 2:00:00 PM

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 PartnersSM financial planning consultant.

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Topics: Trust & Estate Service

Three Hurdles Keeping You From Financial Planning

Posted by MRPR on Jun 25, 2021 12:00:00 PM

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?

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Topics: Tax Topics

Will Your Medicare Payments Increase in 2021?

Posted by MRPR on Jun 21, 2021 11:00:00 AM

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.

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Topics: Tax Topics