Since 1943, our firm has been providing quality, personalized financial guidance to local individuals and businesses. Our expertise ranges from basic tax management and accounting services to more in-depth services such as audits, financial statements, and financial planning. Formerly Miller & Miller Accountancy Corporation, we reorganized as Miller Davies & Ito Accountancy Corporation in 2019.
Our mission is to help clients maintain financial viability in the present while taking a proactive approach to achieve future goals. This requires open communication to reach an understanding of our clients' needs, thorough research, and sound analysis. Our firm is dedicated to meeting these goals with high standards of excellence and professionalism.
Terence is president of Miller Davies & Ito Accountancy Corporation and has been a CPA since 1975. Kaori started with our accounting firm over 20 years ago (as of 2021). She acquired her license in 2005 and has developed extensive knowledge in specialized areas of estate and trust reporting and taxation, as well as small tax-exempt organization informational return filing.
Our mission is to help clients maintain financial viability in the present while taking a proactive approach to achieve future goals. This requires open communication to reach an understanding of our clients' needs, thorough research, and sound analysis. Our firm is dedicated to meeting these goals with high standards of excellence and professionalism.
Terence is president of Miller Davies & Ito Accountancy Corporation and has been a CPA since 1975. Kaori started with our accounting firm over 20 years ago (as of 2021). She acquired her license in 2005 and has developed extensive knowledge in specialized areas of estate and trust reporting and taxation, as well as small tax-exempt organization informational return filing.
Services
Miller Davies & Ito Accountancy Corporation provides a wide range of services to individuals and businesses in a variety of industries.
At Miller Davies & Ito Accountancy Corporation, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
At Miller Davies & Ito Accountancy Corporation, we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals.
At Miller Davies & Ito Accountancy Corporation, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
At Miller Davies & Ito Accountancy Corporation, we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals.
Have you just started a new business?
Did you know expenses incurred before a business begins operations are not allowed as current deductions?
Generally, these start up costs must be amortized over a period of 180 months beginning in the month in which the business begins.
However, based on the current tax provisions, you may elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred.
The $5,000 deduction is reduced by any start-up or organizational costs which exceed $50,000.
Did you know expenses incurred before a business begins operations are not allowed as current deductions?
Generally, these start up costs must be amortized over a period of 180 months beginning in the month in which the business begins.
However, based on the current tax provisions, you may elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred.
The $5,000 deduction is reduced by any start-up or organizational costs which exceed $50,000.
Following are some generally recognized financial planning tools that may help you reduce your tax bill.
Charitable Giving - Instead of selling your appreciated long-term securities, donate the stock instead and avoid paying tax on the unrealized gain while still getting a charitable tax deduction for the full fair market value.
Health Savings Accounts (HSAs) - If you have a high deductible medical plan you can open an HSA and make tax deductible contributions to your account to pay for medical expenses.
Charitable Giving - Instead of selling your appreciated long-term securities, donate the stock instead and avoid paying tax on the unrealized gain while still getting a charitable tax deduction for the full fair market value.
Health Savings Accounts (HSAs) - If you have a high deductible medical plan you can open an HSA and make tax deductible contributions to your account to pay for medical expenses.
It's possible there could be additional extensions, so check with your tax advisor for the latest information.
Individuals must pay the third installment of 2021 estimated taxes, if not paying income tax through withholding (Form 1040-ES).
Calendar-year corporations need to pay the third installment of 2021 estimated income taxes.
Calendar-year S corporations must file a 2020 income tax return (Form 1120S) and pay any tax, interest and penalties due, if an automatic six-month extension was filed.
Individuals must pay the third installment of 2021 estimated taxes, if not paying income tax through withholding (Form 1040-ES).
Calendar-year corporations need to pay the third installment of 2021 estimated income taxes.
Calendar-year S corporations must file a 2020 income tax return (Form 1120S) and pay any tax, interest and penalties due, if an automatic six-month extension was filed.
These calculators have been provided as a resource for you to help plan your financial matters.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice, or supplement the advice of a professional advisor.
There is not and can not be a guarantee of their applicability or accuracy in regards to your individual circumstances.
All examples are hypothetical and are for illustrative purposes.
You are encouraged to seek personalized advice from qualified professionals regarding all personal finance issues.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice, or supplement the advice of a professional advisor.
There is not and can not be a guarantee of their applicability or accuracy in regards to your individual circumstances.
All examples are hypothetical and are for illustrative purposes.
You are encouraged to seek personalized advice from qualified professionals regarding all personal finance issues.
Reviews
Be the first to review Miller Terence D Miller & Miller Accountancy.
Write a Review
