MCB BLOG

As your trusted CPA & Advisor, we keep you informed of the latest tax & accounting news you can use.

Medical and Dental Expenses: What Can You Deduct?

Can you deduct medical and dental expenses? That's a complicated question. To start with, your deductions must exceed 10 percent of your adjusted gross income. And they have to fall into an IRS-approved category. Deductible medical expenses may include, but aren’t...

Tax Credit Offsets Retirement Plan Costs

According to U.S. Department of Labor statistics, well over half of all employees in midsized and large companies can take advantage of an employment-based retirement plan. But with small companies, barely a third of employees are covered. Many small-business owners...

Confused About a Sole Source Award?

It isn’t uncommon for the government to issue a sole source award when only one company or organization is able to satisfy the agency's needs. Agencies such as the Department of Defense, NASA, and the Coast Guard have more leeway and may issue a sole source award if...

Managing Requirements for Grants Received

Requests for transparency and accountability keep growing with the demands that contributions be used as intended. You need to track and report on segregated accounts, treating funds as separate entities with their own general ledgers. More than 20 years ago, the...

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