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‘Tis the Season to Give… And Get a Tax Break!
As we approach the holiday season, employers everywhere are giving gifts to their employees to mark the festivities and show their appreciation for a job well done. If those gifts are in compliance with the Internal Revenue Code, the employers can get a gift of their own – in the form of a valuable tax deduction! Read on to find
Answering Your Student Loan Forgiveness Questions
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.
What’s Changing with Section 174 Research Expense Deductions in 2022?
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.
MRPR Makes Crain’s Cool Places to Work 2022
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.
5 Big Takeaways from the Inflation Reduction Act
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.
ASC 842 and Why It Matters for Private Companies
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?