Are you being scammed by the fake IRS?
Ever got a phone call from a random number claiming to be an IRS agent trying to intimidate you into paying some huge sum of money? Hopefully none of you […]
Author: MKA
Why non-profits and great for our business!
At MKA, we are more than just an accounting firm. We care about our community, and for that reason, philanthropy is a one of our company’s focal points. MKA has […]
Did covid-19 cause a recession in the U.S.?
In the week of March 21st, millions of American were applying for unemployment. Simultaneously, the rate of job loss in the U.S. exceeded job loss during the worst weeks of […]
Election results and your taxes!
This presidential election has been unprecedented with everything going on in the world. The fact that it is happening during a global pandemic has made it even crazier. With the […]
Small Business planning tips for you!
If you own a small business, consider the following strategies to minimize your tax bill for 2020. Net Operating Losses (NOLs). The CARES Act relaxed many NOL limitations that were […]
End Of The Year Planning Tips For You!
Here are some planning strategies that may lower your individual income tax bill for 2020. Take Advantage of Generous Standard Deduction Allowances. If your annual deductions will be close to […]
Avoid Tax Traps in Loans to Friends and Family
Lending to friends and relatives is a tricky business, and not only because of the stress it can place on your relationships. There are tax issues involved as well. If […]
A Tip on Tip Reporting
If you are like millions of taxpayers in the service industry, you may receive tips. The tax code is clear; if you receive tips you must report them as income. […]
Avoid the Gambling Winnings Tax Surprise
With the increased popularity of lotteries and casinos, more unsuspecting winners are experiencing a lucky payday only to end up with a huge tax head-ache when filing their income taxes. […]
Income the IRS Can’t Touch
Wouldn’t it be nice to have a source of nontaxable income? You may be more fortunate than you realize. Listed here are a number of income items that the IRS […]