Queens, NYC

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Whitestone, NY 11357
Tel: (718) 767-0737

Manhattan, NYC

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New York, NY 10017
Tel: (646)-367-3726

Sarasota, FL

2831 Ringling Boulevard, #204B
Sarasota, FL 34237
Tel: (941) 366-5646

Washington, DC

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Washington, DC 20003
Tel: (202) 547-9004

 

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5 Ways Your CPA Can Help You With Money Management

As your wealth and assets grow, your finances become more complex. It’s a challenge to keep up account management, financial records, and ever-changing tax regulations, and you shouldn’t have to face it alone. That’s why it’s wise to hire a trusted certified public accountant (CPA) to help you with your finances. A CPA is a financial advisor who can assist you in creating a strategic plan for managing and maximizing your wealth. How do CPAs help you manage your money? Here are just a few of the many ways your CPA can streamline your personal and business money management. 1. Bookkeeping and payment tracking For...

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Should You Delay Your Retirement?

In the wake of the COVID-19 pandemic, many individuals who are approaching retirement age are opting to delay their retirement. Depending on your current financial standing, staying in the workforce for an extra year or more could be a good idea that can pay off in the long-run.  Reasons to consider delaying retirement 1. It gives you more time to plan out and minimize your future expenses. Due to coronavirus, many people have had to deal with expenses that they had not planned for, such as job loss, the stock market losing money, and health care costs. If you were hit with financial...

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Working With CPA for the First Time? What You Need to Know

A CPA can be a valuable asset to an individual or business throughout the entire year – not just during tax season. If you’ve never worked with a tax accountants before, it’s essential to understand what your working relationship might entail and how they will handle your finances. https://www.youtube.com/watch?v=tMTsvdawJ6s Because you’re trusting your CPA with sensitive personal and business financial information, you don’t want to hire the first firm you hear about, without exploring your options. It’s essential to find a firm that’s meeting your needs and has your best interests in mind. At Miller and Company LLP, we work with many clients who are...

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How to Handle Taxes as a Part-Year Resident

If you're fortunate enough to own properties in multiple states, you might be among a group of taxpayers known as part-year residents. Most commonly, these individuals will live in the northern part of the country during the summers, then spend their winters in the south to maximize their opportunity to enjoy the sunshine and warm weather. While this may be an ideal lifestyle choice for some, handling your taxes can become complicated when you reside in more than one state throughout the tax year. Here are a few tips for determining your residency type and filing your taxes accordingly. Determine your residency...

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Tax Tips for Minority-Owned Businesses

Diversity in the business world is more important than ever right now. If your company is at least 51% owned by a woman and/or person of color, you can become a certified minority-owned business. This status can open up some tax incentives and business opportunities that may not be available to you otherwise. What is a certified minority-owned business? According to the National Minority Supplier Development Council (NMSDC) — the largest and most prominent certification body for minority-owned businesses — you must meet the following criteria to qualify as a certified minority-owned business:   You must be a U.S. citizen. Your business must...

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How Will the New PPP Loan Forgiveness Terms Impact Your Business Finances?

The coronavirus pandemic has left small businesses across the nation struggling to stay afloat and meet their payroll costs. The federal Paycheck Protection Program (PPP) was launched in March 2020 as part of the CARES Act to help business owners keep employees on payroll and off unemployment with a short-term federal loan.  The initial rollout of the program was a bit confusing for small business owners, many of whom were unclear about how to apply and what they could use their loan for. Fortunately, the government recently changed the PPP's terms to make it easier to apply for, utilize, and repay...

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Financial Solutions for Businesses Reopening After Lockdown

The COVID-19 pandemic forced many businesses to pause or adjust their in-store operations. Now that much of the country is beginning to lift restrictions, these businesses must now figure out how to safely reopen, while trying to recoup the devastating financial losses incurred during the lockdown. This is no easy task for most business owners, especially those in the restaurant, retail, and personal services industries who must limit their hours and/or in-store capacity. Even with a Paycheck Protection Program (PPP) loan to help cover payroll, you might struggle to meet other basic business expenses since you’re serving a reduced number of...

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Should You File Your Business Taxes After July 15?

By now, every American taxpayer knows that the official IRS tax filing deadline for 2019 returns and tax payments has been pushed back to July 15. This unprecedented three-month extension was the government’s response to the sweeping economic impact of COVID-19, and for many, the postponement has been a much-needed gift. However, struggling businesses may still not be fully prepared to file their tax return by the new deadline. For businesses that think they’ll need even more time this year, the IRS is still offering its usual option to apply for an additional three-month filing extension. Those who submit the appropriate...

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Options for handling student loans during COVID-19 pandemic

The CARES Act signed into law last month includes six months of relief for most federal student loan borrowers unable to make their payments during the COVID-19 pandemic. But there are some restrictions for people who may have other types of school loans. Paul Miller, CPA and founder of Miller and Company LLP, explained PIX11 News the alternate options out there for borrowers not covered by the CARES Act. ...

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The information on this site is to be used for informational purposes only and is not intended or implied to be a substitute for professional CPA or accountant advice. It is important to visit a highly specialized CPA firm in New York with top rated, best in class NYC accountants regarding creative ideas customized to your specific needs. Visit a leading Accounting firm in NYC and Queens, NY Miller & Company LLP. We are taking an exceptional individual care of each client.