September 2021 Updates
Smart business, accounting, tax, and planning ideas from your MMKR CPAs!
Online Sellers Affected by 1099-K Change
The American Relief Plan Act included an under-the-radar change that could impact a substantial number of individual taxpayers. As part of the Act, Congress has extended 1099-K reporting to $600 of total payments received. Anyone that sells on Ebay, Etsy, or a similar secondary market could now require a Schedule C when they file their 2021 Form 1040.

Learn more about the most recent 1099-K changes and how they've impacted online sellers...
Charter Schools, COVID Relief Funds, and Single Audits: What Authorizers Should Know
The federal government has allocated unprecedented new resources to K-12 schools in response to the Coronavirus pandemic, much of it via Elementary and Secondary School Emergency Relief (ESSER) funds. These new dollars, if used well, have the potential to benefit students and support the viability of schools hit hard financially by the pandemic.

Learn more from MMKR's very own, Jim Eichten, in this new blog covering the process of school audits...
What's New at MMKR?

Couldn't have asked for a better day for a picnic!

Here are some pics from our firmwide meet-and-greet with MMKR's new hires. So happy to have all of you on the team!

In Case You Missed It...
Want to find out what IRS auditors know about your business industry?
In order to prepare for a business audit, an IRS examiner generally does research about the specific industry and issues on the taxpayer’s return. Examiners may use IRS “Audit Techniques Guides (ATGs).”
Expanding succession planning beyond ownership
Your succession plan could include any employee who’s considered indispensable and difficult to replace because of experience, industry or technical knowledge, or other characteristics.
Are you a nonworking spouse? You may still be able to contribute to an IRA
For 2021, the amount that an eligible married couple can contribute to an IRA for a nonworking spouse is $6,000, which is the same limit that applies for the working spouse.
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.