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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?
Employee Retention Credit Update
Folks in the Restaurant Industry will want to pay close attention to the IRS’s latest update to the Employee Retention Credit.
Michigan Enacts Elective Flow-Through Entity Tax
On December 20th, 2021, Governor Gretchen Whitmer signed Michigan HB 5376, which creates an entity-level tax for pass-through entities (PTEs) that do business in the State of Michigan. Under this new law, PTEs would declare and pay tax on their Michigan taxable income on behalf of their shareholders or entity level partners, and would deduct these taxes from the federal
Tax Planning for the Biden Administration
Tax Planning for the Biden Administration Potential Strategies to Combat Increased Taxes Many individuals are stuck in a holding pattern as they wait to see what impact the Biden Administration will have on tax regulations. The President has shared what he’d like to see happen, but until those proposals are put into law, it can be hard to know what
MRPR Makes Crain’s Cool Places to Work 2021
We’re excited to announce that MRPR has made Crain’s 2021 Cool Places to Work list in Michigan. MRPR ranks 72 among 100 companies recognized by their employees for having outstanding workplace culture.