By MARIA ELENA LOPEZ, LLC December 31, 2016
Certified Acceptance Agents - District of Columbia IRS Maria Elena Lopez LLC 4416 Georgia Avenue NW Washington, DC 20011 (202) 882-0935` Translation, Notary Public, Renew Works Permit E-file Open Every Day 9AM-9PM. Don't be lured to a tax preparer stating they are the best and offering their services at a lower than market rate! A good, honest, ethical, knowledgeable tax preparer will never give away their expert services for free and they don't need to brag about how good they are because their clients will do that for them! ...read more
By Deborah Love 1 October 10, 2015
My firm has been using Acumen accounting for the past 5 years. Kim Narcisso is wonderful to work with and has helped us our accounting, payroll and tax. He is always ready to give us advice and I think his fees are very reasonable. ...read more
By drp April 22, 2013
"MyTaxx Office" is now my tax office from now on! I'll never go to get my taxes done anywhere else as long as they are around! The atmosphere is incredible, the service is incredible, and the people are incredible. Highly recommended. ...read more
QUALIFIED DOMESTIC TRUST If you, a U.S. citizen, marry a non-citizen, the federal government taxes your estate as soon as you pass, leaving your spouse with a lot less to live on. One of the ways to provide for your non-citizen spouse is to set up a qualified domestic trust or QDOT instead of a regular trust. When the time comes to write your will, you have the right and the ability, as a U.S. citizen, to leave your spouse your entire estate upon your death. If your estate is worth more than a certain amount, you can leave your assets in a trust, where they won’t be taxed, at least not until your spouse passes. With your assets in a trust, your spouse is entitled to any income the trust generates, typically interest payments. Setting up a Qualified Domestic Trust (QDOT) is a complicated business. The tax accounting experts such as Miller & Company LLP, NY Certified Public Accountants can set up a domestic trust for you so that you can be sure your loved ones are properly cared for in the event of your passing. We are a Miller & Company, the best rated NYC CPA firm. Most forward-thinking accountant NYC Paul Miller as well as most of the New York CPAs recommend that your spouse also have access to the assets in your trust. If any assets are withdrawn, though, they’re subject to estate taxes. Your personal accountant can explain the details of the law to you. WHAT IS A QUALIFIED DOMESTIC TRUST? If you, a U.S. citizen, marry a non-citizen, the federal government taxes your estate as soon as you pass, leaving your spouse with a lot less to live on. One of the ways to provide for your non-citizen spouse is to set up a qualified domestic trust or QDOT instead of a regular trust. What the government is trying to prevent by taxing your estate right away is your non-citizen spouse taking the money from the domestic trust out of the country without paying taxes on it. A QDOT trust is a domestic trust that: Changes the timing on how your estate gets taxed Treats your non-citizen spouse more like a citizen Lets the estate allow unlimited marital deductions QDOT TRUST REQUIREMENTS Federal estate taxes are applied to normal estates worth more than $5.45 million. While the $5.45 million is exempt from federal estate taxes, any amount beyond that figure is subject to a 40 percent tax. The money that’s exempted is normally protected by the unlimited marital deduction, which allows you to leave an unlimited amount of your assets to your spouse. The exempted money isn’t taxed until your spouse passes away, but this arrangement only concerns spouses who are U.S. citizens. If your spouse isn’t a U.S. citizen, the government wants the taxes paid upon your death. To prevent this, set up a qualified domestic trust, which must meet the following criteria: At least one trustee must be a U.S. citizen or a U.S. corporation. If the estate is worth more than $2 million, then it’s required that one of the trustees for a domestic trust be a U.S. bank. Said trustee must have the right to withhold tax on any distribution of principal from the domestic trust, or no distributions may be made. The executor of the estate must state on your estate’s tax return that a QDOT trust has been created. This return must be filed within nine months after your death — and once the executor has elected to have the estate become a qualified domestic trust on the tax return, it is irrevocable. Any other regulations put in place by the IRS must also be met. This stipulation has been put in place by the IRS to ensure that you’re aware that your estate may be impacted by any new regulations as they’re enacted. Read more athttps://www.cpafirmnyc.com/qualified-domestic-trust Miller & Company LLP 141-07 20th Ave, Suite 101, Whitestone, NY 11357 +1 718-767-0737 Midtown Manhattan, NY 274 Madison Ave, Suite 402, New York, NY 10016 +1 (646)-865-1444 Manhattan, NYC 18 East 48th Street, #1001 New York, NY 10017 +1 (646) 367-3726 Washington, DC 316 Pennsylvania Ave #402 Washington, DC 20003 +1 (202) 547-9004 Suitland, Maryland 5883 Allentown Rd Suitland, MD 20746 +1 (301) 423-4474 https://www.cpafirmnyc.com ...read more
By Miller & Company LLP DC June 20, 2019
BACK TAXES OWED Owing taxes from years past can feel like a threatening dark cloud at the horizon. No matter which way you turn, it’s always there. Maybe your tax troubles started innocently enough — you just didn’t have the money to pay your taxes one year. Or maybe it came all of a sudden when you finally completed one or more non-filed tax returns. Not paying the back taxes you owe can have dire consequences; don’t wait until you have all the money to pay off back taxes, Take action today, call us! Miller & Company LLP, NY Certified Public Accountants. Let the best rated CPA New York firm argue your case for leniency. Like those non-filed tax returns, owing back taxes is a problem you cannot ignore. Not filing your federal tax returns is a crime; not paying the taxes you owe from previous years can mean penalties and fines that can triple the original amount you owe. The longer you let it slide, the more money you’ll potentially have to pay. It’s possible that the IRS has wrongfully assigned a liability to you or assessed you incorrectly. If you owe back taxes to IRS do not rush to pay off. Reach out to a certified NYC accountant for back taxes to resolve any taxes you owe. Only the best tax resolution services companies can review and deal with the IRS to resolve back taxes owed to provide a tax relief help you need. DON’T WAIT Even the most successful entrepreneurs, the best paid executives and the most prosperous individuals can have problems with back taxes owed. If you owe back taxes do not wait. Tax penalties and interest add up fast. Find a licensed tax accountant in NYC and the New York City metropolitan area who can help you paying off back taxes and contact the IRS to: Stop the penalty clock Decide how to minimize the penalties and fines you may have to pay Argue your case for leniency The New York CPAs at Miller & Company with offices in NYC and Queens have experience helping successful people and businesses get out from under the weight of the back taxes they owe. Tax resolution services can definitely help. Don’t get the wrong idea — you’ll likely have to pay the taxes you owe. With the help of a skilled tax accountant for back taxes, though, you won’t have to come up with all the money right away or even all at once. CONSEQUENCES OF UNPAID BACK TAXES You’re not the first businessperson to defer tax payments without informing the government. If you let it go too long, you risk: Being discovered and prosecuted by the IRS Increasing your debt to the government Losing your good credit rating If you try to handle back taxes by yourself, you may end up writing one big check to cover the taxes you owe, the fees and penalties you accrued and the interest that built up over time. Or perhaps you’ll just continue to ignore the problem, letting the amount you owe in back taxes keep stacking up. Both actions aren’t the best way to resolve your back taxes. The smartest tactic is to hire the best rated NYC accountant, Miller & Company tax accountants for back taxes to go to bat for you. Read more athttps://www.cpafirmnyc.com/back-taxes-owed Miller & Company LLP 141-07 20th Ave, Suite 101, Whitestone, NY 11357 +1 718-767-0737 Midtown Manhattan, NY 274 Madison Ave, Suite 402, New York, NY 10016 +1 (646)-865-1444 Manhattan, NYC 18 East 48th Street, #1001 New York, NY 10017 +1 (646) 367-3726 Washington, DC 316 Pennsylvania Ave #402 Washington, DC 20003 +1 (202) 547-9004 Suitland, Maryland 5883 Allentown Rd Suitland, MD 20746 +1 (301) 423-4474 https://www.cpafirmnyc.com ...read more
By Miller & Company LLP DC June 20, 2019
A smooth business operation is as good as the accountancy and flow of cash. This has taken various meanings in today’s digital age with the need of companies to be “ Making Tax Digital ” to meet competitive business environment. An accountant’s job is that of a guardian at the steering wheel. Advantages of Digital Accounting and Taxation Digitization from the first step itself – invoicing to clients from vendors – ensures the right and timely records are maintained. Thus, all transactions, financial records, calculations, payments, current and fixed assets, liabilities can be stored in a spreadsheet which can be digitally utilized to link many calculations and create accounting systems around it. Such a setup overrides any possibility of errors and omissions that might cause critical issues in the accounting flow. A software company IRIS found in a survey that convincing businesses to move to an accounting software is the biggest challenge in the roadmap fordigital bookkeeping. We will also provide a MTD guide and a task force team to help you understand the issues and future developments. If you need help, in making your Tax Digital, kindly contact us today. Read More:Advantages of Digital Accounting and Taxation ...read more
By Rayvat-UK January 11, 2019
Payroll accountants are responsible for tracking the expenditure of money and assets through a company. Their job is to help companies track their income and maintain a timely payment record for expenses and bills. If you are interested in becoming a payroll accountant, you will have to be... ...read more
Computer files can sometimes be deleted by accident, get lost or damaged. This could be a potential nightmare, especially if these are small business accounting files. You have peace of mind by knowing how to use the "Backup and Restore" function in Microsoft Small Business Accounting. With a few keys... ...read more