MLR

Resources

Accounting & Finance Articles

Welcome to our Resources section, where you will find articles on accounting and finance for businesses and individuals, as well as resources to aid in business financial planning across a variety of industries we serve. Please contact us for personalized advice in accounting and finance. Maxwell Locke & Ritter is here to offer trusted guidance.

 

On November 18, 2020, the IRS released new guidance clarifying its current position on whether and when taxpayers may deduct expenses that were paid for with PPP loans that are expected to be forgiven. This guidance should be taken into consideration for tax planning and estimates.

Categories:

Getting a divorce can be distressing. You don’t want to make matters worse by making decisions that will cost you more in taxes. Here are four issues to consider if you’re in the midst of getting a divorce.

The TCJA, which went into effect in 2018, roughly doubled the standard deduction. This has led to fewer people claiming itemized deductions and has increased the importance of planning the timing of certain itemized deductions for some taxpayers. Depending on your situation, you may want to accelerate, or possibly defer, deductible expenses in 2020 as discussed in this article.

We want to review some of the important 2020 tax changes and how it affects investors and estate/gift planning with you.

Paycheck Protection Program (PPP) loans of $2 million and higher are subject to additional requirements to certify in good faith that the loan was needed.

Categories:

Employees pay Social Security tax on their wages up to the current tax year’s “wage base.” The Social Security Administration just announced the base amount for 2021.

Entrepreneurs: Don’t ignore saving for retirement. Here are the basics of tax-favored plans to help build your nest egg.

Categories:

Besides helping a worthy cause, your donations may qualify for a festive write-off on your 2020 tax return if you qualify. Here are five ways to boost your deduction for charitable contributions if you itemize.

As businesses are moving quickly to adjust to the current business landscape, security and compliance is often deprioritized. ML&R’s IT Security & Compliance Team can help you bridge the gap in security and compliance so you can keep your data safe, your regulators at bay, and your customers happy.

“Phishing” scams are cyberattacks are designed to hook unsuspecting victims into revealing sensitive information, but now there’s a new twist aimed largely at small businesses: Voice phishing scams (also known as “vishing” using social engineering).

Advice from Industry Experts

Our team includes specialists who have a proven track record of helping their clients reach their financial goals. For audit services, tax preparation, due diligence, IT security & compliance, wealth management, and 401(k) plan management, we can help answer your questions and get you on the right track.

Contact us today to schedule your consultation.

CONTACT US
  • Drop files here or
    Accepted file types: jpg, png, pdf, doc, docx.
  • This field is for validation purposes and should be left unchanged.