Tax software is a historian; it simply records what happened in the past. A strategic CPA is a planner; we help you shape the future.

While software is often sufficient for simple W-2 returns, it fundamentally lacks the ability to offer advice. Software asks, "Did you buy a vehicle?" A CPA asks, "Should you lease or buy that vehicle to maximize your Section 179 deduction this year?"

For business owners and investors, the "do-it-yourself" approach often costs far more in missed opportunities than the fee of a professional. Hiring a Millan CPA offers three distinct advantages:

• Nuance vs. Compliance: Software is binary (Yes/No), but the tax code is nuanced. We interpret regulations to your advantage, finding the "gray areas" where professional judgment can legally lower your liability.

• Audit Defense: If the IRS questions your return, software provides a support hotline. We provide representation, standing between you and the auditor to defend the positions we took.

• ROI on Your Time: Your highest value is running your business, not learning the 2025 tax code. We give you that time back while ensuring you don't leave money on the table.

We view our fee not as an expense, but as an investment in your wealth retention.

• Accountants are financial professionals who handle bookkeeping and recording financial history. However, "Accountant" is an unregulated title—anyone can use it without specific state licensing or continuing education.

  CPAs (Certified Public Accountants) are fiduciaries licensed by the State Board. We have passed the rigorous Uniform CPA Exam and are required to undergo continuous education and ethics training annually.

  The Key Difference: Only a CPA is legally authorized to sign audited financial statements and fully represent you before the IRS. If you face an audit, an unlicensed accountant cannot speak on your behalf—we can.

  Our Standard: Millan + Co. CPAs actively participates in the Texas State Board Peer Review program, ensuring our work meets the highest quality standards in the industry. We focus on client satisfaction at the highest level of quality.

A properly structured retirement plan is one of the most effective tools for accumulating wealth. For business owners, it serves a dual purpose: significantly reducing your current taxable income while growing your savings in a tax-advantaged environment.

While the "right" plan depends on your business structure and cash flow, the most common options we implement for our clients include:

• Solo 401(k): Ideal for business owners with no employees (other than a spouse). It allows for the highest possible contribution limits by combining "employee" deferrals with "employer" profit-sharing contributions, all with minimal administrative costs.

• SEP IRA: A flexible, easy-to-manage option for businesses with few or no employees. It is funded entirely by employer contributions (up to 25% of compensation), allowing you to vary contribution amounts year-to-year based on profitability.

• SIMPLE IRA: Best suited for small businesses (typically under 100 employees) that want to offer a retirement benefit with low administrative overhead. It requires mandatory employer matching but is simpler to run than a full 401(k).

• Defined Benefit / Cash Balance Plans: The "heavy hitter" for high-income business owners. Unlike the plans above, these allow for substantially larger annual contributions (often exceeding $100k-$200k) to "catch up" on retirement savings, offering massive upfront tax deductions.

As your wealth grows, these assets become a critical component of your broader financial picture. You may have related estate planning and trust questions as well, which we can address in tandem with your tax strategy.

It depends on when you bought the vehicle. Under the new "One Big Beautiful Bill Act," the bonus depreciation rate for 2025 is split:

• Acquired before Jan 20, 2025: The rate is generally 40%.

• Acquired on/after Jan 20, 2025: The rate is restored to 100%.

Crucial Caveat for Vehicles: Even with 100% bonus depreciation, "passenger automobiles" (under 6,000 lbs) are still subject to IRS luxury caps (approx. $20,200 max deduction in Year 1).

The "Heavy" Vehicle Advantage: SUVs and trucks with a Gross Vehicle Weight Rating (GVWR) over 6,000 lbs generally avoid these caps, potentially allowing for a full 100% write-off.

For a complete list of qualifying vehicles categories and the "Section 179 vs. Bonus" stacking strategy, read our full guide: Bonus Depreciation Rules for 2025 and Beyond.

Exiting your business is often the most significant financial event of your life. Without strategic planning, capital gains and estate taxes can erode a substantial portion of the wealth you have built.

"Tax-advantaged succession" means structuring the deal to keep more money in your pocket. Depending on your business type and goals, this might involve:

• Qualified Small Business Stock (QSBS): Often considered the "Holy Grail" of tax planning. If your business is a C-Corporation and not a disqualified service firm (such as law, health, or consulting), Section 1202 can allow you to exclude 100% of federal capital gains tax on the sale—potentially saving millions. This is a complex area with specific holding periods and recent legislative updates; we highly recommend reading our Guide to Section 1202 and Qualified Small Business Stock (QSBS) to see if you qualify.

• Installment Sales: Spreading the income (and the tax liability) over several years rather than taking a massive tax hit in a single year.

• Charitable Remainder Trusts (CRTs): A powerful tool that can allow you to sell appreciated business assets tax-free, receive an income stream for life, and secure a charitable deduction.

• Gifting Strategies: For family transfers, utilizing lifetime gift tax exemptions to transfer non-voting shares to heirs before the business valuation peaks.

• Buy-Sell Agreements: Ensuring a pre-funded plan (often via life insurance) is in place so partners can buy out a deceased or retiring owner without draining company cash flow.

The key is timing. Many of these strategies—especially QSBS, which generally requires a 5-year holding period—must be implemented years before you sign a Letter of Intent to sell.

Accumulating wealth is only half the equation; preserving it and ensuring it passes to your beneficiaries efficiently is the other. Without a coordinated estate plan, the retirement assets and business equity you have built could be subject to unnecessary estate taxes or probate complications.

We often work with clients to answer questions such as:

• Asset Protection: How can a trust shield my business and personal assets from potential creditors or legal liabilities during my lifetime?

• Beneficiary Designations: Do my retirement plan beneficiary designations align with my current will and trust documents? (This is a common oversight that can override your estate plan).

• Tax Efficiency: Can I use a trust to reduce the taxable estate value of my business, ensuring my heirs aren't forced to sell assets just to pay estate taxes?

• Succession Planning: If something happens to me, is there a clear mechanism in place for the business to continue or be sold without court interference?

Your tax strategy, retirement planning, and estate documents should not exist in silos. We can work alongside your estate attorney to ensure your financial architecture supports your long-term legacy.

For these strategies, you generally need both. The legal structure and the tax strategy are equally complex, but they serve different masters.

• The Lawyer's Role (The "Structure"): An attorney is required to draft the trust agreement or conservation deed to ensure it is valid under state property law. They ensure the "perpetuity" clauses meet legal standards to prevent the trust from being busted by future heirs or creditors.

• The CPA's Role (The "Defense"): We handle the valuation defense and IRS compliance. Conservation easements are currently a top audit target.

  • The "Syndicated" Trap: We ensure your structure does not accidentally fall under the IRS's "Listed Transaction" rules (specifically the Charitable Conservation Easement Program Integrity Act), which can disallow deductions that exceed 2.5 times your basis.

  • Form 8283 Compliance: We coordinate the "Qualified Appraisal" and file the specific tax forms required to substantiate the deduction (up to 50% of AGI).

Strategic Warning: If your legal team drafts a perfect deed but the valuation metrics fail the IRS's "substance over form" tests, the entire deduction can be disallowed years later. We work alongside your counsel to stress-test the numbers before you sign.

For a deeper dive into state-specific benefits (like Texas vs. Delaware trusts), read our full guide: Land Trusts: Benefits and Considerations.

We do not sell investment products, and that is by design. Think of us as the architects of your financial house, while your investment advisors act as the builders.

We design the tax-efficient blueprints-determining where assets should be held, how withdrawals should be timed, and what tax vehicles (like Defined Benefit plans or Trusts) best serve your goals. We then collaborate with trusted Registered Investment Advisors (RIAs)-either your existing team or firm partners we recommend -to ensure they build according to those specifications.

This separation ensures our advice remains purely objective, focused on your total wealth retention rather than selling a specific fund or product.

Yes. We work with many early-stage businesses to ensure they start on solid footing. beyond guiding you through necessary entity formation and compliance filings, we offer Fractional CFO services to help structure your growth strategy and manage cash flow.

Additionally, we can connect you with our trusted network of professionals—including attorneys, insurance agents, and brokers—to support your business at every stage.

• CPAs focus on the financial and tax implications of your entity choice (e.g., S-Corp vs. LLC vs. C-Corp), ensuring you select the structure that minimizes tax liability from day one.

• Lawyers focus on legal protection, drafting complex operating agreements, and intellectual property, but may not optimize for the most tax-efficient structure.

• Our Recommendation: Consult a CPA first. Tax implications often outweigh legal technicalities for small businesses. We can determine the optimal structure for your revenue model, then tell you exactly what legal documents you need a lawyer to draft.

Learn more about our Business Incorporation Services.

We specialize in serving small to medium-sized businesses, professionals, and individuals. While our roots are in Austin, Texas, our capabilities are borderless; we seamlessly serve clients nationally and globally through our remote capabilities.

In addition to traditional accounting for retailers and service providers, we handle complex needs for high-net-worth families through our Family Office services.

Learn more about our specific capabilities on our Strategic Tax Planning, International Accounting and Estate Tax pages.

Yes, we are a fully remote-capable firm. While we are based in Austin, Texas, and love meeting locals, you do not need to be local to work with us. We utilize secure client portals and video conferencing to serve clients across the U.S. and internationally with the same personal attention as a face-to-face meeting.

Unlike volume-based tax franchises that charge "per form," Millan & Co. is a professional services firm. Our fees are determined by the complexity of your financial situation and the time required by the specific team member managing your account.

• Tax Compliance: Fees are generally based on standard hourly rates for the professional staff involved. Because every business owner's situation involves unique variables (trusts, multi-state filings, real estate schedules), we do not offer a standardized "flat rate" price list.

• Advisory & Planning: For ongoing consulting, estate planning, or business structuring, we can often provide a customized engagement letter outlining the scope and estimated costs after a preliminary review of your prior tax returns and future strategic goals.

Why this matters: We view your return as a strategic asset, not a data-entry task. Our pricing reflects the value of identifying deductions, credits, and strategies that often outweigh the cost of the fee itself.

For 2025, the IRS has increased the contribution limits for retirement accounts, offering business owners and individuals more room to shelter income.

401(k) & 403(b) Limits (2025):

• Employee Deferral: $23,500

• Catch-Up (Age 50-59): +$7,500

• "Super" Catch-Up (Age 60-63): +$11,250 (New for 2025 under SECURE 2.0)

• Total Defined Contribution Limit: $70,000 (Employer + Employee, excluding catch-up)

IRA Limits (Traditional & Roth):

• Standard Limit: $7,000

• Catch-Up (Age 50+): +$1,000

SIMPLE IRA:

• Employee Deferral: $16,500

• Catch-Up (Age 50-59): +$3,500

• "Super" Catch-Up (Age 60-63): +$5,250

For a deep dive into these changes—specifically the new rules for ages 60-63—read our detailed guide: 2025 401(k) Contribution Increases + Catch-up Amounts.

For the 2025 tax year (effective January 1, 2025), the IRS has updated the optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.

2025 Standard Mileage Rates:

• Business Use: 70 cents per mile (up 3 cents from 2024)

• Medical or Moving (Military): 21 cents per mile

• Charitable: 14 cents per mile (set by statute)

Why tracking matters: To claim this deduction, you must maintain a compliant log that records the date, mileage, and specific business purpose of every trip. "Estimates" are frequently disallowed during an audit.

For a review of the best tools to automate this process, please see our guide: Mileage Tracking Automation Apps and Leveraging Schedule C.

• SECURE 2.0 is a massive piece of legislation that changes the rules for how business owners accumulate and transfer wealth. While it includes over 90 provisions, three key changes matter most for high-income earners:

  • The "Rothification" of Catch-Up Contributions: Historically, high earners could make pre-tax catch-up contributions to lower their current tax bill. Starting in 2026 (following a two-year administrative delay), if you earn more than $145,000 (indexed for inflation) in the prior year, your catch-up contributions must be made to a Roth account. This removes the immediate tax deduction but creates tax-free growth for the future.

  • "Super" Catch-Up Limits: Effective in 2025, individuals ages 60 to 63 can contribute significantly more—up to $11,250 (indexed)—in catch-up contributions, allowing for a final "sprint" of savings before retirement. (See Section 109 details).

  • 529-to-Roth Rollovers: If you overfunded a child's 529 college savings plan, you can now roll up to $35,000 (lifetime limit) of those unused funds directly into a Roth IRA for the beneficiary, tax-free. Note: The 529 account must be at least 15 years old. (See Section 126).

  • Delayed RMDs: The age for Required Minimum Distributions (RMDs) has increased to 73 and will rise to 75 in 2033, allowing your tax-deferred assets to grow longer.

Generally, filing jointly provides the lowest total tax because it unlocks higher standard deductions and access to credits (like the EITC and education credits) that are often disallowed for separate filers.

However, filing separately may save you money or protect you in three specific scenarios:

• Income-Driven Student Loan Repayment: If one spouse has high federal student loan debt, filing separately can exclude the other spouse’s income from the monthly payment calculation, potentially saving thousands in loan payments (even if the tax bill is slightly higher).

• High Medical Expenses: If one spouse has significant medical bills (exceeding 7.5% of income) and lower income, filing separately might allow those deductions to be claimed, whereas combining incomes would disqualify them.

• Liability Protection: Filing separately separates your tax liability. This can protect your refund from being seized to pay your spouse's past-due debts (child support or back taxes) and protects you from audits on your spouse’s business activities.

Our Approach: We run a comparative analysis for every married client to determine the exact mathematical advantage of each filing status before finalizing your return.

No. For federal income tax purposes, child support payments are considered a personal expense. They are not tax-deductible for the payer, nor are they considered taxable income for the recipient.

However, parents can agree to transfer this right to the non-custodial parent (often the higher earner) using IRS Form 8332. We can help you calculate which arrangement yields the highest net benefit for the family unit.

For more details on divorced or separated individuals, you can reference IRS Publication 504.

Generally, yes, a trust may need to file a tax return, but it depends on several factors, primarily the type of trust and its income level.

Here's a breakdown of when trusts typically need to file tax returns:

1. Trusts that Typically File Form 1041 (U.S. Income Tax Return for Estates and Trusts):

• Irrevocable Trusts: Generally treated as separate tax entities, these trusts typically file Form 1041 annually if they have gross income of $600 or more, any taxable income, or a non-resident alien beneficiary.
• Revocable Trusts (after the Grantor's death): Upon the grantor's death, a revocable trust becomes irrevocable and must file Form 1041 if it meets the same income or beneficiary criteria as an irrevocable trust.
• Complex and Simple Trusts: These trusts also need to file Form 1041 if they meet the income or beneficiary requirements.

2. Trusts that May Not Need to File Form 1041 (or Have Simplified Reporting):

• Grantor Trusts (during the grantor's lifetime): The income from these trusts is typically reported on the grantor's personal tax return (Form 1040), and the trust may not need to file a separate Form 1041. Some grantor trusts may file Form 1041 for informational purposes.
• Revocable Trusts (during the grantor's lifetime): During the grantor's life, these are usually treated as grantor trusts and generally do not file a separate tax return.

Important Notes:

• Income Threshold: The $600 income threshold is a common trigger for filing, but it can vary.
• Professional Advice: Trust and tax laws are complex. Consulting with a qualified estate tax professional or attorney is recommended to determine specific filing requirements.
• Learn more about the 2026 Estate Tax Planning: Exemptions, Gifting + Strategies

• More info from IRS.gov

For the 2025 tax year, the limits depend on what you donate and how you donate it. This is also a strategic year to maximize giving before stricter "floor" rules take effect in 2026.

1. Cash Contributions (Public Charities)

• Limit: You can deduct up to 60% of your Adjusted Gross Income (AGI).

• Strategy: If you donate more than 60%, the excess carries forward for up to 5 tax years.

2. Non-Cash Assets (Stocks, Real Estate)

• Limit: You can deduct up to 30% of your AGI for appreciated assets held longer than one year.

• Advantage: You generally avoid paying capital gains tax on the appreciation while still claiming a deduction for the full fair market value.

3. Qualified Charitable Distributions (QCDs)

• For IRA Owners Age 70½+: You can transfer up to $108,000 (2025 limit) directly from your IRA to a charity.

• Benefit: This counts toward your Required Minimum Distribution (RMD) but is excluded from your taxable income entirely, effectively bypassing the AGI percentage limits.

Why 2025 Matters: Starting in 2026, new tax laws will introduce a "Charitable Floor," meaning you may only be able to deduct contributions that exceed 0.5% of your income. We strongly recommend "bunching" multiple years of planned giving into 2025 to maximize your tax benefit under the current, more favorable rules.

• Individuals can estimate tax liability using the official IRS Tax Withholding Estimator tool to calculate the correct federal tax to withhold and avoid penalties.

• Employers must rely on standard IRS withholding tables (Publication 15) to determine federal income tax, Social Security, and Medicare deductions.

• Foreign persons are generally subject to a flat 30% withholding tax on U.S. source income unless a tax treaty specifies a lower rate.

Use the specific calculators and tables for your status here.

For the 2026 tax year, the IRS has adjusted several standard deadlines because they fall on weekends or holidays. Below are the critical due dates to ensure timely filing and payment.

Key Dates for Individuals

• January 15, 2026: Deadline to pay the final installment of 2025 estimated taxes (Q4).

• April 15, 2026: Tax Day. Annual income tax returns (Form 1040) and Q1 2026 estimated tax payments are due. Last day to file Form 4868 for an automatic 6-month extension.

• June 16, 2026: Q2 2026 estimated tax payments are due (moved from June 15, which is a Sunday).

• September 15, 2026: Q3 2026 estimated tax payments are due.

• October 15, 2026: Final deadline to file 2025 income tax returns for those who requested an extension.

Key Dates for Businesses

• February 2, 2026: Deadline to file Forms W-2 and 1099-NEC/MISC (moved from Jan. 31, which is a Saturday).

• March 16, 2026: Tax returns due for Partnerships (Form 1065) and S-Corporations (Form 1120-S) (moved from March 15, which is a Sunday).

• April 15, 2026: Tax returns due for C-Corporations (Form 1120) and Estates/Trusts (Form 1041).

• September 15, 2026: Extended filing deadline for Partnerships and S-Corporations.

• October 15, 2026: Extended filing deadline for C-Corporations.

• December 15, 2026: Q4 estimated tax payments due for C-Corporations (Form 1120-W).

Please reference our full 2026 Tax Calendar, complete with forms, here.

Yes, we are fully integrated with QuickBooks Online (QBO) and recommend it for most small business clients.

Regarding Fees: Using QBO can reduce your compliance costs by eliminating manual data entry—but only if the data is accurate.

• The Goal: A clean, reconciled QBO file allows us to focus your budget on tax strategy and planning rather than basic bookkeeping.

• The Reality: "Garbage in, garbage out." If your QBO file is disorganized or unreconciled, it may actually increase fees due to the "cleanup" time required before tax prep.

If you are unsure about your current setup, we can review your QBO file during onboarding to ensure you are getting the efficiency savings you expect.

To ensure the utmost security for your sensitive data, we utilize a dedicated Client Document Portal. Please note that to maintain strict access control, our team must first provision your secure client profile.

Once your account is established, you will enjoy a seamless and frictionless experience uploading your files. Our portal leverages high-encryption protocols, guaranteeing that your information remains confidential and fully protected throughout the transmission and storage process.

Our office is located at 812 San Antonio Street, Suite L17, Austin, TX 78701, centrally located in Austin's Civil District near the Travis County Courthouse.

Yes, parking is available in the 812 San Antonio Garage, which is located on the corner of 9th Street and San Antonio Street. Please provide us with your license plate number or parking receipt when you arrive so we can validate your parking.

As soon as your major documents arrive! Please upload your forms as you receive them or in a single batch—whichever is easier for you. The most important thing is to get the process started early. If you are unsure if you are missing a specific form, just let us know in your upload notes and we will help you figure it out.

You should maintain a well-organized file (digital or physical) containing proof of your identity, income, and potential deductions. For cryptocurrency specifically, you must keep granular data for every single transaction to accurately calculate capital gains or losses.

1. Personal & Dependent Information

• Social Security Cards (or ITIN letters) for you, your spouse, and all dependents.

• Government-issued Photo ID (Driver’s license, state ID, or passport).

• Bank Account Info: Routing and account numbers for direct deposit of refunds.

• IP PIN: If the IRS issued you an Identity Protection PIN, you must have this to file.

2. Income Documents (What you earned)

• W-2 Forms: From all employers you worked for during the tax year.

• 1099 Forms:

  • 1099-NEC / 1099-MISC: For freelance, contract, or gig work.

  • 1099-INT / 1099-DIV: For interest and dividends from banks/brokerages.

  • 1099-R: For distributions from retirement accounts (IRAs, 401ks) or pensions.

  • 1099-G: For unemployment benefits or state tax refunds.

  • 1099-K: For payments received via third-party networks (like PayPal, Venmo, or Amazon) if you sold goods/services.

3. Cryptocurrency Records (Crucial for Audits)

Because crypto exchanges do not always capture the full picture (especially if you transfer between wallets), you are personally responsible for tracking the "cost basis" of your coins.

• Transaction Logs: A record of every exchange, including:

  • Date and Time of the transaction.

  • Transaction Value: The Fair Market Value (FMV) in USD at the exact moment of the trade.

  • Fees: Gas fees or exchange trading fees (these verify your cost basis).

  • Transaction Hash/ID: The digital fingerprint of the transfer.

• Wallet Addresses: Public addresses for all wallets you control (hot or cold storage).

• Airdrop/Staking/Mining Records: If you earned crypto as income, record the FMV on the day you received it.

4. Deduction & Credit Documents (To lower your tax)

• Form 1098: Mortgage interest statements.

• Form 1098-E: Student loan interest statements.

• Form 1098-T: Tuition statements for college expenses.

• State & Local Taxes: Records of property taxes or real estate taxes paid.

• Charitable Donations: Receipts for cash donations and detailed records for non-cash donations (clothes, household items).

• Medical Receipts: If your medical expenses exceed 7.5% of your adjusted gross income.

• Business Expenses: If self-employed, keep receipts for software, equipment, home office costs, and mileage logs.

Yes. The general rule of thumb is to keep your tax returns and supporting documents for at least 7 years.

While the IRS statute of limitations for an audit is typically three years, they can go back six years if they suspect substantial errors (such as underreporting income).

Key Exceptions:

• Property & Investments: If a return contains info on property you own (like a home purchase or stock basis), keep that return indefinitely until you sell the asset, plus an additional 7 years after the sale.

• Lost Returns: If you cannot find an old return, you don't always need to pay for a full copy (Form 4506). You can often request a free Tax Transcript from the IRS, which provides the line-item data usually required for mortgages or financial aid.

Yes, absolutely. While many documents aren't required for your annual tax return, they are essential for other critical life events, such as insurance claims, applying for loans, legal disputes, or estate planning.

You should maintain a permanent file for the following categories:

• Vital Records: Keep original certified copies of birth certificates, marriage licenses, divorce decrees, and death certificates. You will need these for Social Security benefits, passport applications, and settling estates.

• Legal & Estate Documents: safeguard your Will, Living Will, Power of Attorney, and Trust documents. These are vital during medical emergencies or end-of-life administration.

• Medical History: Keep records of immunizations, major surgeries, and comprehensive family medical history. These are often required when changing doctors or enrolling children in school.

The fastest way to resolve most routine issues is online, not by phone. The IRS phone lines often have wait times exceeding 60 minutes.

We recommend using these official digital tools first:

• For Refund Status: Use the Where’s My Refund? tool. You will need your Social Security number, filing status, and exact refund amount. (Note: Please allow 21 days for e-filed returns and 6+ weeks for paper returns before checking).

• For Notices & Balances: Create an IRS Online Account. This secure portal allows you to view your balance, see digital copies of notices, and make payments without waiting on hold.

• Businesses: 800-829-4933.

• Tip: The best times to call are generally early morning (7–8 a.m.) or later in the week (Wednesday–Thursday). Be prepared to wait, and have your prior-year tax return available for identity verification.

Yes. Please be aware that tax authorities use third-party processors for credit card transactions, and those processors charge a separate "convenience fee."

This fee is typically a percentage of your total payment (often around 1.8% to 2.5%) and is paid directly to the processor, not to your CPA or the tax agency. For large tax balances, this fee can be significant. To avoid this surcharge, pay via direct bank transfer (ACH) or wire, which typically carries minimal costs.