Welcome to Glenn R. Millar, C.P.A., P.C.! Whether you are new to our site, or returning for a visit, we hope to provide you with timely and valuable information. As your business partner, we understand your need to save time and will work with you to find effective solutions for your business needs. We strive to build and maintain long-lasting business relationships, and this website is an extension of our commitment to you.
Please feel free to contact us for additional information about our firm and the services we offer, or to make suggestions regarding our website. We look forward to speaking with you soon. We provide a wide range of services to individuals and businesses in a variety of industries. Our firm strives to meet each client's specific needs in planning for the future and achieving their goals.
Our calculators have been provided as a resource for you to help plan your financial matters.
Please feel free to contact us for additional information about our firm and the services we offer, or to make suggestions regarding our website. We look forward to speaking with you soon. We provide a wide range of services to individuals and businesses in a variety of industries. Our firm strives to meet each client's specific needs in planning for the future and achieving their goals.
Our calculators have been provided as a resource for you to help plan your financial matters.
Services
Prior to working for the local accounting firm, Mr. Millar worked as an Internal Revenue Agent for over 6 years.
The founder has had a successful history of fulfilling client needs in a local accounting firm.
He has an excellent reputation for quality work, reliability, and fairness that is a tribute to himself and the professional and office staff that have worked for him over the years.
The Firm's main business objectives are to provide clients with a service of value to them, to provide employees a rewarding place to work of which they can be proud, to make enough profit to enable the principal/shareholder and the Firm's employees to obtain their personal goals, and to meet the Firm's other objectives.
The founder has had a successful history of fulfilling client needs in a local accounting firm.
He has an excellent reputation for quality work, reliability, and fairness that is a tribute to himself and the professional and office staff that have worked for him over the years.
The Firm's main business objectives are to provide clients with a service of value to them, to provide employees a rewarding place to work of which they can be proud, to make enough profit to enable the principal/shareholder and the Firm's employees to obtain their personal goals, and to meet the Firm's other objectives.
Glenn R. Millar, CPA, PC provides a wide range of services to individuals and businesses in a variety of industries.
At Glenn R. Millar, CPA, PC, 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 Glenn R. Millar, CPA, PC, 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 Glenn R. Millar, CPA, PC, 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 Glenn R. Millar, CPA, PC, 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.
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