January 2022 Updates
Smart business, accounting, tax, and planning ideas from your MMKR CPAs!
Relief for Recipients of COVID Funds
In an effort to reduce the burden of obtaining a full single audit or a program-specific audit by the recipients of Coronavirus State and Local Fiscal Recovery Funds (CSLFRF), the U.S. Department of Treasury has provided a less demanding alternative to the single audit of federal awards.

Read more about these changes below...
Hobby or Business?
The IRS has issued a guide to help you determine whether your side gig is actually a hobby or business.

The difference can be critical for the tax treatment of your activities. Here are some important questions to ask yourself in making these determinations. 
Social News
Employee holiday toy drive to Perspectives, Inc. 

Here's to another successful toy drive! It's always a joy coming together as a team to support a great cause.
In Case You Missed It...
Tax-wise ways to save for college
If you’re a parent or grandparent with college-bound children, you may want to save to fund future education costs. Here are several approaches to take maximum advantage of the tax-favored ways to save that may be available to you.
SECURE 2.0 law may make you more secure in retirement
A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was signed into law on December 29, 2022.
Does your family business’s succession plan include estate planning strategies?
Family-owned businesses face distinctive challenges when it comes to succession planning. For example, it’s important to address the distinction between ownership succession and management succession.
Do you have questions about your specific goals or strategies?

Each of our clients is unique; therefore, we provide solid, forward-thinking business strategies, expertise, and advice along with traditional accounting, audit, and tax consulting services tailored to their needs.