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R&D Tax Changes Under the OBBB: What Businesses Need to Know
The One Big Beautiful Bill Act (OBBB), signed into law on July 4, 2025, brings significant changes to the tax treatment of Research and Development (R&D) expenses under Section 174 of the Internal Revenue Code (IRC). For businesses engaged in innovation, particularly in technology, biotech, and manufacturing, these changes offer substantial opportunities to optimize tax strategies and improve cash flow.
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.
OBBBA and Employer Responsibilities: Preparing for New Tip and Overtime Deductions
The One Big Beautiful Bill Act (OBBBA) introduces significant new deductions for workers beginning in tax year 2025: A deduction of up to $25,000 for qualified tips in certain occupations A deduction of up to $12,500 ($25,000 for joint filers) for the overtime premium portion of pay While these benefits are welcome for employees, the way they are being rolled
Tax Credit Bills Passed by Michigan House for Qualifying R&D Expenses
UPDATE: On January 13, 2025, Governor Gretchen Whitmer officially signed into law House Bill 5100 and House Bill 5101, establishing Public Act 187 of 2024 and Public Act 188 of 2024, respectively. These measures solidify the creation of new tax credits for qualifying research and development expenses, aligning Michigan’s tax code more closely with federal standards and aiming to incentivize
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