Retirement Income Payment Plans – Choose Wisely

If you are getting ready to retire,  you may find yourself faced with the question of how you should receive income payments – in increments or all at once. Most people end up choosing steady payments, or "life annuity".  Having that steady income can make for less stress than taking a big lump … [Read more...]

Donating to a Non-Profit Organization: How to avoid getting scammed

Considering donating to a non-profit organization?  Don’t let fraudsters take advantage of your desire to help, through dirty tactics such as emotional appeals. Exercising a little caution will protect you against scammers who are trying to cheat you. Here are some guidelines to keep in mind when … [Read more...]

Millan & Co | Consultants and CPAs | (512) 479-6819

Tax Changes in 2015: Stay Up-to-Date!

  Each year U.S. tax codes undergo various changes. Staying on top of these changes can help save you more money and avoid hassles and headaches come Tax Day. Here are two major tax changes in 2015 that you'll want to know when you prepare:   Retirement Savings Tax Changes in … [Read more...]

Millan & Co CPAs | Retirement Planning | (512) 479-6619

Retirement Planning: Don’t delay, start now.

These days, retirement looks nothing like it did generations ago. This means that retirement planning has evolved as well. Long gone are the days of guaranteed pensions and health insurance for life.  With growing health consciousness and longer life expectancies, your retirement dollars have to … [Read more...]

Holiday Spending Tips

The holiday season is almost here and it is tempting to overindulge in many ways. For your financial future, it is important to resist the snare of overspending. With expensive events, a long list of presents to buy, and travel costs, it’s easy to let it get out of hand by the time 2015 is … [Read more...]

Find a Tax Deduction for Your Charitable Donations

If you’ve recently moved and donated your belongings, given money to a charity, or traveled to volunteer your time, you may be able to claim a tax deduction. Donating to a great cause is, of course, a good deed in itself, but that doesn’t mean you can’t reward yourself with a tax benefit. These are … [Read more...]

Tax Deductions for Working Parents

For families, balancing work and home life can be a difficult task, especially when parents are working. Therefore, it’s important to take advantage of some tax deductions and credits that the IRS can offer to help offset your costs. We're here to help you out. Consider these tax deductions and … [Read more...]

File a Simple IRA for your Business Before October 1st

If you are unaware, the deadline for filing a Simple IRA for your business is approaching fast. What is a Simple IRA? The Simple IRA allows small businesses to contribute to their employees’ retirement plans, without that business to go through the expensive of establishing a 401k. Thus, employees … [Read more...]

Benefits of an Audit

Benefits of an Audit

The benefit of an audit is that it provides assurance that management has presented a "true and fair" view of a company's financial performance and position. An audit underpins the trust and obligation of stewardship between those who manage a company and those who own it or otherwise have a need … [Read more...]

Who Pays Estate Taxes

Who Pays Estate Taxes?

According to the IRS, estate tax is a tax on your right to transfer property at your death. The tax is determined by calculating the fair market value of everything you own or have certain interests in at the date of death. The total of all these items is referred to as “Gross Estate,” which … [Read more...]