December 2021 Updates
Smart business, accounting, tax, and planning ideas from your MMKR CPAs!
2021 Year-End Tax Planning Tips
There is a lot of uncertainty with tax planning this year. The U.S. House of Representatives has passed the Build Back Better Act that includes a number of substantial changes to the tax code. It is still to be seen if the Senate will pass a similar bill and ultimately what the final bill passed by both might look like. With that, there are no certainties for what these changes will look like when it comes time to file.

Learn more about which year-end tax planning items should be addressed prior to 2022.
Holiday scam reminder: Gift cards are never used to make tax payments
This holiday season the IRS reminds taxpayers, the agency won't ask for or accept gift cards as payment for a tax bill. However, that doesn't stop scammers from targeting taxpayers by asking them to pay a fake tax bill with gift cards. They may also use a compromised email account to send emails requesting gift card purchases for friends, family or co-workers.

Learn more about this scam and ways to avoid it this holiday season...
What's New at MMKR?

New year, new look! The MMKR team is glad to announce the completion of our big office remodeling project. Check out some of the new changes!
In Case You Missed It...
4 ways to refine your cash flow forecasting
Run a business for any length of time and the importance of cash flow becomes abundantly clear. When payroll is due, bills are piling up and funds aren’t available, blood pressure tends to rise.
Vacation home: How is your tax bill affected if you rent it out?
If you’re fortunate enough to own a vacation home, you may want to rent it out for part of the year. What are the tax consequences?
Employers: The Social Security wage base is increasing in 2022
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for 2021).
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.