Many taxpayers make charitable gifts — because they’re generous and they want to save money on their federal tax bills. But with the tax law changes that went into effect a couple years ago and the many rules that apply to charitable deductions, you may no longer get a tax break for your generosity. Are […]
The word “concentration” is usually associated with a strong ability to pay attention, but the word has an alternate meaning in a business context as well — and a distinctly negative one at that. Common problem A common problem among many companies is customer concentration. This is when a business relies on only a few customers to […]
If you reside in a high-tax state, you may want to consider using nongrantor trusts to soften the blow of the $10,000 federal limit on state and local tax (SALT) deductions. The limit can significantly reduce itemized deductions if your state income and property taxes are well over $10,000. A potential strategy for avoiding the […]
Right now, you may be more concerned about your 2019 tax bill than you are about your 2020 tax situation. That’s understandable because your 2019 individual tax return is due to be filed in less than three months. However, it’s a good idea to familiarize yourself with tax-related amounts that may have changed for 2020. […]
If, like many people, your traditional IRA holds a mixture of deductible (after-tax) and nondeductible (pretax) contributions, it’s important to track your contributions carefully to avoid double taxation of distributions. Why? Because the IRS treats distributions as a blend of pretax and after-tax dollars. If you treat distributions as fully taxable, you’ll end up overpaying. […]
LOS ANGELES, February 3, 2020 – Miller Kaplan, a top-100 certified public accounting firm, is pleased to announce that effective January 1, 2020, the firm has acquired Citadel Information Group, Inc. (“Citadel”) – a Los Angeles-based company dedicated to providing information security management services to businesses and the nonprofit community. Founded in 2002 by Stan Stahl, […]
Most business owners would probably agree that, when it comes to sales, there’s always room for improvement. To this end, every company should strive for organic sales growth — that is, increases from existing operations unrelated to a merger or acquisition. That’s not to say a merger or acquisition is necessarily a bad idea, but you can’t […]
____________________________________ We highly recommend you confer with your Miller Kaplan advisor to understand your specific situation and how this may impact you.
____________________________________ We highly recommend you confer with your Miller Kaplan advisor to understand your specific situation and how this may impact you.
The IRS announced it is opening the 2019 individual income tax return filing season on January 27th. Even if you typically don’t file until much closer to the April 15th deadline (or you file for an extension), consider filing as soon as you can this year. The reason: You can potentially protect yourself from tax […]
You’ve no doubt read articles or heard stories about how artificial intelligence (AI) is bringing sweeping change to a wide variety of industries. But it’s one thing to learn about how this remarkable technology is changing someone else’s company and quite another to apply it to your own. Here’s a primer on what AI might […]
The beginning of the year can be a busy time for business owners and executives, because you no doubt want to get off to a strong start in 2020. One danger of a hectic beginning is setting an early precedent for distancing yourself from rank-and-file staff. After all, a busy opening to the year may […]