Our New tax strategy planning and advisory platform keeps you abreast of annual tax law changes for each year with an advanced client advisory platform that incorporates all aspects of tax and accounting best practices. Our tax practice focuses on managing its compliance practice efficiently and effectively. Tax compliance work continues to face extreme market pressure and is considered a commodity. In addition, annuity work has a compressed time frame dictated by statutory due dates.
Since 2017 Millennium Management has successfully prepared income, estate and gift tax returns for individuals, small businesses, estates and trusts. Business entity filings encompass general and limited partnerships, C and S corporations, limited liability companies (LLCs), and 501(3c) tax-exempt organizations. After-the-fact payroll filing services are offered to all individual and business clients.
Whether you are establishing a new business entity or facing filing questions over an unfamiliar election, transaction or asset transfer, it’s important to consult a tax professional. Seeking competent advice ensures filing compliance and protects against the potential for delinquent tax and penalty assessments.
If you are the administrator of family estate, Millennium recommends engaging professional services to ease the burden of trust and estate tax compliance. Estate tax filings represent one of the largest tax revenue sources, and are subject to the highest audit rate among all federal tax filings.
Millennium is a management consulting and advisory firm having been engaged by some of the World’s Leading Firms in over $50B in Strategic Planning, Operations Management, Consulting, FP&A, IT, and Logistics Projects. We’re vested in our client’s growth and dedicated to helping enterprises succeed in every way possible through superior insight, strategic planning, operations management, and financial planning & analysis.
Our deep industry knowledge together with strategy, predictive analytics, and agile methodologies enable us to develop customized integrated approaches that solve complex problems, make operations more efficient, reduce costs, and improve competitive advantage.
Our tax advisory and representation services division addresses the needs of individuals, small businesses, estates, and trusts. We support clients across the greater United States, the Middle East, Europe, and Asia by servicing a unique niche that integrates tax and representation services and financial planning with portfolio management via Millennium Capital Management, Corp.
Our Tax Preparation and Advisory Services Include:
- Income Tax Preparation and Filing
- Estate Return and Filing
- Tax Planning and Preparation
- Tax Efficiency Planning
- Foreign Taxation
Our Tax Advisory Platform
Our Advisory Service and Platform Includes:
- Key tax updates, facts, updates, and deadlines for tax compliance and planning
- Recommended to-do lists
- Specialized tips for important life events and much more
- Extensive Client Portal for managing tax account
Your enterprise can relies on our expertise, which will guide and provide you with a supplemental framework to
help you stay informed, save time on planning ahead, and align your team for efficiency and success.
We review the pros and cons of S corporation election with eligible corporate clients.
Recent Tax Law and Code Changes
The recently enacted American Rescue Plan Act has good news for your business clients in the form of
extension of key coronavirus credits, including the employee retention credits and credits for paid family
and medical leave. However, key provisions in the new law provide “extra credits” for your individual clients—
especially those with families.
In the past, unreimbursed employee business expenses, including the costs of continuing education, were deductible
as miscellaneous itemized deductions (subject to a 2%-of adjusted-gross-income deduction floor). However, the 2017
Tax Cuts and Jobs Act eliminates all miscellaneous itemized deductions—including deductions for employee business
expenses—for tax years beginning after 2017 and before 2026.
The tax law provides a credit for new Qualified Plug-In Electric Drive Motor Vehicles, including passenger cars and light
trucks [Code Sec. 30D]. The maximum credit is $7,500—$2,500 plus $417 for a vehicle that uses a battery with at least 5
kilowatt hours of capacity, plus an additional $417 for each kilowatt hour of battery capacity over 5. However, the credit begins to phase out for a car manufacturer’s vehicles when the manufacturer has sold 200,000 qualifying vehicles for use in the United States. The IRS maintains a list of qualifying vehicles and credit amounts on its website at www.irs.gov/businesses/irc-30d-new-qualified-plug-in-electric-drive-motor-vehicle credit.