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New Tax Benefit for Vehicle Buyers in 2025
Thinking about financing a car? Here’s a new tax rule you should look out for. Effective starting 2025 through 2028, the One Big Beautiful Bill Act (OBBBA) introduces a tax deduction that could be beneficial for those buying a new car. Under this new rule, taxpayers may deduct up to $10,000 per year on car loan interests on their federal
The Next Step in Tax Modernization: Federal Payments Go Digital
The tax world has been steadily moving toward modernization for years. E-filing is now second nature, digital signatures have replaced stacks of paperwork, and online accounts give taxpayers instant access to their records. Now, the federal government is taking the next big step—payments to and from the government are going digital. Executive Order In March 2025, President Trump signed an
MRPR is Named to 2025 Best Places to Work List
For the ninth year, MRPR has been recognized by Crain’s Detroit Business as one of the Best Places to Work in Southeast Michigan! This prestigious list is compiled through a comprehensive, research-driven process that evaluates company practices, programs, and benefits, alongside direct feedback from our employees.
The One Big Beautiful Bill (OBBB): A Rundown for 2025
After a tumultuous review by both the House and the Senate, Congress passed the One Big Beautiful Bill (OBBB) on July 3rd, with the President immediately signing it into legislation on the July 4, 2025 holiday. The bill was paramount to enacting several of the campaign promises made by Trump and “fixing” many of the provisions from the Tax Cuts
President Trump Signs the One Big Beautiful Bill
On Friday, July 4, 2025, President Trump signed the One Big Beautiful Bill Act into law, cementing many key provisions of the 2017 Tax Cuts and Jobs Act (TCJA) well ahead of their scheduled expiration. The sweeping Republican tax legislation, which passed narrowly in the House after clearing the Senate, permanently reduces individual tax rates, expands the standard deduction, boosts
Does Your 401(k) Plan Require an Audit? Here’s What You Need to Know
As a business grows and its retirement plan matures, the question often arises: “Do we need a 401(k) audit?” The answer depends on a few key factors, including the number of participants in your plan and specific IRS and Department of Labor (DOL) regulations.