MRPR Blog

How the Build It in America Act May Affect Your Business

Posted by MRPR on Jul 27, 2023 9:10:14 AM

On June 13, the United States House Committee on Ways and Means, the chief tax-writing committee in the House of Representatives, passed the Build It in America Act (H.R. 3938). According to the Ways and Means Committee, this legislation would "counter China's growing global economic influence by restoring American business competitiveness, securing global supply chains, and prohibiting U.S. foreign land sales to companies from countries of concern."

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Topics: Tax Topics, Business Planning & Operations, Accounting Hot Topics, News

Preparing to Apply for the Restaurant Revitalization Funding Grant

Posted by Rob Doehrer and Lyndi Smith on Apr 28, 2021 6:56:32 PM

MRPR Blog -  Preparing to Apply for the Restaurant Revitalization Grant (1)

In review of 2020, the National Restaurant Association found that the industry ended the year $240 Billion below pre-pandemic forecasts of sales. Because of this outsized impact, restaurants have received additional industry specific funding from Congress as part of the American Rescue Plan Act to help get them closer to becoming whole. This grant will be available directly through the Small Business Administration. They just announced their “Go Live,” of the application portal found here.

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Topics: Business Planning & Operations

SBA Opens Second Round of PPP Applications

Posted by MRPR on Jan 12, 2021 12:14:05 PM

On Saturday, January 9th the Treasury and the SBA released new PPP guidance and application forms. The new guidance includes overviews of the First and Second PPP draws and the Revised PPP1-Borrower-Application-Form and Second-Draw-Borrower-Application-Form.

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Topics: Business Planning & Operations, News, COVID-19 Updates

Are Your Employees’ Retirements SECURE? (Part 3 of 3)

Posted by Louis DiSarno, CPA on Aug 25, 2020 6:30:00 AM

 

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Topics: Business Planning & Operations, Accounting Hot Topics

Running a Business Without a CFO? What You Should Know

Posted by Tyler Walz on Dec 17, 2019 2:00:03 PM

There are many different functions associated with running a business, including marketing, administrative, and overall operations of the company. For many organizations, the finance and accounting function can be an overlooked area of the business as other areas may require more immediate attention. A Chief Financial Officer (CFO) can provide the financial acumen necessary for a company to develop a roadmap for financial growth and address current financial issues within the organization.

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Topics: Business Planning & Operations

Three Reasons To Have a 401(k) Audit

Posted by Tyler Walz on Nov 25, 2019 11:45:00 AM

A 401(k) plan is a common retirement savings option that is offered by many employers to their employees. It's important that companies know once an active participant threshold of 100 is met, the US Department of Labor (DOL) requires a certified audit of your 401(k) plan by a CPA firm. This is because there are risk factors that could impact your plan. Let's look at three of them, and how a 401(k) audit can protect you from these risks, and from financial liability.

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Topics: Business Planning & Operations, Accounting Hot Topics

Q4 2019 Tax Headlines For Business Owners

Posted by Greg Zink on Nov 12, 2019 8:00:00 AM

While some people may not think that tax and accounting topics make for exciting headlines--we do! Here's a quick round up of five tax-related headlines that impact many business owners heading into Q4.

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Topics: Tax Topics, Business Planning & Operations

The New Lease Accounting Standard is Coming Soon

Posted by Erica Braun on Jan 21, 2019 8:00:00 AM

Many business owners see their leases --everything from buildings to copy machines-- as just that --a lease. But what they aren't used to seeing are those leases showing up on their balance sheets. If you have a long-term lease of any kind, you'll need to understand the new lease accounting standard, also known as, Accounting Standards Update 2016-02 or Leases (Topic 842). For non-public entities, this standard is set to take affect for fiscal years beginning after December 15, 2019.

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Topics: Business Planning & Operations

IRS Updates Transportation Industry Per Diem Rates

Posted by Greg Zink on Oct 11, 2018 7:57:00 AM

The IRS has increased the 2018–2019 per diem rates for substantiating employee business expenses under IRC Sec. 274(d) for lodging, meals, and incidental expenses incurred while traveling away from home. 

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Topics: Business Planning & Operations, Accounting Hot Topics