Biden's Proposed Tax Plan Includes Significant Capital Gains Changes The Biden administration has recently released its proposed budget (aka "Green Book") for the 2022 fiscal year. The U.S. Treasury indicates the $6 trillion budget aims to improve … [Read more]
Topics What Is The R&D Tax Credit? Eligibility Benefits Misconceptions R&D Tax Credit Eligibility: The Four-Part Test Required Documentation Changes to the R&D tax credit in 2022 What is the R&D Tax Credit? The R&D tax credit … [Read more]
The Austin Real Estate Investment and Housing markets are benefiting from major forces that are providing unprecedented income opportunities for real estate professionals. From the wave of companies leaving the coasts for more business-friendly … [Read more]
CARES Act Small Business Loan Basics. From the beginning, Millan and Company's mission has always been to help small businesses grow, and help them learn how to stay connected post pandemic even through the challenges and difficulties the coronavirus … [Read more]
The tax filing due date is extended from April 15 to July 15. Taxpayers can also defer income tax payments without penalties and interest. Even with this extension, if you are due a refund, file electronically as soon as possible. A full listing of … [Read more]
Several factors and circumstances help determine if an activity producing a net operating loss should be treated as a business or hobby for tax filing purposes. In general, a hobby is mainly done for recreation and pleasure whereas a business is … [Read more]
The Treasury Department and the Internal Revenue Service recently released final regulations (PDF) and additional proposed regulations (PDF) under section 168(k) of the Internal Revenue Code on the new 100% additional first year depreciation … [Read more]
By: James A. Bradley, CPA, MBT(Tax), Tax Manager at Millan and Co, PC, Austin, TX. August, 2019. jim@millancpa.com Do you want to form a nonprofit organization? What tax-exempt entity status should you choose? Should you select Section 501(c)(3), … [Read more]
Millan & Company P.C. has recently announced a comprehensive set of certified bookkeeping services, allowing organizations to focus more time and energy on their businesses and to help make more informed budget decisions. A recent article in … [Read more]
By: James A. Bradley, CPA, MBT(Tax), Tax Manager at Millan and Co, PC, Austin, TX. June, 2019. jim@millancpa.com A nonprofit organization is organized for charitable, educational, or religious purposes, and it can qualify for tax-exempt status … [Read more]