Webinars & Blog

Grant Opportunity for New & Existing Business Startups thru Nebraska Small Business Assistance Act (NSBAA)

A new program is available through the Nebraska Department of Economic Development (DED) and the GROW Nebraska Foundation. The NSBAA (Nebraska Small Business Assistance Act) program’s goal is to support those looking to start a small business or planning to expand a small business that was opened within the past five years. A small business is […]

February 20, 2024

There’s Still Time to Fund an IRA for 2023

The tax filing deadline is fast approaching, which means time is running out to fund an IRA for 2023. If you had earned income last year, you may be able to contribute up to $6,500 for 2023 ($7,500 for those age 50 or older by December 31, 2023) up until your tax return due date, […]

February 20, 2024

LOCAL FIRM CONTINUES TO GROW WITH AN EXCITING NEW ANNOUNCEMENT

McMill CPAs & Advisors, one of the largest financial firms in Northeast Nebraska, is excited to announce the addition of a new shareholder, Lynndsy Beckmann. She became a shareholder alongside Jared Faltys, Clint Weeder and Andrew Steffensmeier on January 1, 2024. Raised in rural Bloomfield, Lynndsy now resides in Wisner with her husband, Chet, and […]

February 14, 2024

WEBINAR (1/25/2024) – 2023 Q4 MARKET UPDATE

Jared Faltys and Clint Weeder provide an update on the current status of the market. Recorded 1/25/2024.

January 25, 2024

WEBINAR (1/10/24) – NAVIGATING THE MARKETS – 4TH QUARTER SUMMARY

Dimensional Fund Advisors Vice President, Apollo Lupescu, PhD and Jared Faltys, CPA/PFS provide a current market update. Recorded January 10, 2024.

January 18, 2024

Don’t Forfeit Your Solo 401(k)

A solo 401(k) plan is an excellent way for sole proprietors to pack away retirement funds. In 2024, you can contribute up to $23,000 ($30,500 if you’re 50 or older) in pre-tax dollars. As the employer, you can also make matching contributions to your account. SOLO 401(K) PLAN ADVANTAGES Administrative simplicity is a major plus […]

January 8, 2024

Retirement Plan Limits for 2024

Many IRA and retirement plan limits are indexed for inflation each year. Several of these key numbers have increased once again for 2024. How much can you save in an IRA? The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2024 will be $7,000 (or 100% of your earned […]

January 8, 2024

E-File Rule Changes

Beginning in 2024: New E-file Regulations for Businesses (1099s) The IRS and Department of the Treasury have amended the rules for filing returns and other documents electronically (e-file).These regulations will require certain filers to e-file beginning in 2024. This rule change will likely affect your business if you file your own 1099s, since each 1099 is […]

January 4, 2024

Nebraska Minimum Wage Increases to $12.00 / Hour

Department of Labor News Release LINCOLN – Nebraska’s minimum wage will increase to $12 per hour effective January 1, 2024. In accordance with an initiative passed by voters in November of 2022, the minimum wage will increase $1.50 each year through 2026, followed by an annual cost of living increase beginning in 2027. The minimum hourly […]

December 27, 2023

Do You Know What Your Asset Allocation Is?

The financial markets have had their moments in 2023. And if you haven’t checked your portfolio and retirement plan asset allocations in a while, you could be in for a jolt. Your allocations may be out of line with your current investment goals, timeline and tolerance for risk, but you can fix the problem by […]

December 15, 2023

Year-End Charitable Giving

Year-End Charitable Giving With the holiday season upon us and the end of the year approaching, we pause to give thanks for our blessings and the people in our lives. It is also a time when charitable giving often comes to mind. The tax benefits associated with charitable giving could potentially enhance your ability to […]

December 11, 2023

WEBINAR (11/14/2023) – Nebraska Pass-Through Entity Tax (PTET)

Clint Weeder and Andrew Steffensmeier discuss the Nebraska Pass-Through Entity Tax (PTET) and the possible tax savings for your business. This change in the tax law will benefit business owners that file Partnership (Form 1065) and S Corporation (Form 1120-S) tax returns. Clint and Andrew detail what PTET is and its benefits, give a timeline […]

November 15, 2023

WEBINAR (11/2/2023) – 2023 Q3 MARKET UPDATE

Jared Faltys and Clint Weeder provide an update on the current status of the market. Recorded 11/2/2023.

November 2, 2023

WEBINAR (10/19/23) – NAVIGATING THE MARKETS – 3RD QUARTER SUMMARY

Dimensional Fund Advisors Vice President, Apollo Lupescu, PhD and Jared Faltys, CPA/PFS provide a current market update. Recorded October 19, 2023.

October 31, 2023

Medicare Open Enrollment Begins October 15

If you are covered by Medicare, it’s time to compare your current coverage with other available options. Medicare’s Open Enrollment period begins on October 15 and runs through December 7. Medicare plans can change every year, and you may want to switch to a health or prescription drug plan that better suits your needs or […]

October 17, 2023

Be Aware of Fraudulent IRS Communications

In today’s digital age, scams and fraud have become increasingly prevalent, affecting individuals, businesses, and government agencies. One of the most common forms of fraud involves impersonating the Internal Revenue Service (IRS) to deceive taxpayers. To protect ourselves and our communities from falling victim to such schemes, it is essential to be aware of fraudulent […]

August 3, 2023

Lemonade Camp 2023

We had an awesome Lemonade Camp this year hosted in Downtown Norfolk on August 1st, 2023. Campers raised $619 for the Animal Shelter of Northeast Nebraska.

August 3, 2023

Stuff the Bus

In July 2023, McMill employees donated school supplies to the Salvation Army’s Stuff the Bus event. This event supplied students with new backpacks and basic school supplies. For more information on this annual event, please call the Salvation Army at 402-379-4663.

July 19, 2023

Legal Documents Most Americans Need

These documents will give your family guidance and comfort when they need it most. POWERS An advance directive or healthcare power of attorney is a legal document that provides loved ones and medical professionals a road map for your health care preferences should you ever be unable to make those decisions yourself. Appoint someone you […]

July 14, 2023

When Should You Start Social Security Benefits?

Before deciding to collect Social Security benefits, consider these tips to help you make an informed decision. TIMING MATTERS If you plan to continue working while receiving benefits, there are limits on how much you can earn each year between age 62 and full retirement age and still collect all your benefits However, once you […]

July 7, 2023

Tax Deductible Start-Up Costs

You’ll incur numerous costs to get your new business venture off the ground. But are all of them tax deductible? You may be surprised. GETTING STARTED Tax deductible business start-up costs include those incurred while creating an active trade or business and/or investigating the creation or acquisition of an active trade or business. Start-up cost […]

June 30, 2023

What’s Up with the U.S. Debt Ceiling?

As potential threats loom large, we’re seeing articles in abundance, explaining where we’re at, how we got here, and what to expect next.  We wouldn’t be human if we didn’t share in your frustration over the maddening lack of resolution to date. It’s stressful to watch huge, consequential events unfolding, over which we have no […]

May 17, 2023

Banking Update

It’s hard, and often counterproductive to comment about breaking news while it’s still moving through the proverbial grinder … which is why we usually don’t do so. However, we feel it’s worth commenting on the current banking situation and how it affects long term results. Our Broad Advice Remains the Same As you know, we […]

March 14, 2023

IRS Releases Standard Mileage Rates for 2023

The standard mileage rate has again increased for those deducting business miles. See the details below. Due to recent increases in the price of fuel, the IRS has increased the optional standard mileage rates for computing the deductible costs of operating an automobile for business purposes for 2023. However, the standard mileage rates for medical […]

February 9, 2023

Retirement Investors Get Another Boost from Washington

SECURE 2.0 will usher in many changes for retirement plans and IRAs over the next several years. Amid the 1,650-page, $1.7 trillion omnibus spending legislation passed by Congress last week and signed by President Biden were several provisions affecting work-sponsored retirement plans and, to a lesser degree, IRAs. Dubbed the SECURE 2.0 Act of 2022 […]

January 13, 2023

Taxes in Retirement

With Social Security benefit payments increasing nearly 9% this year, you may need to rethink your retirement tax planning. INCOME MATTERS If you started working part-time to offset some of the recent price inflation, this increase in your Social Security payments might make some or more of it subject to federal income taxes. If you […]

January 8, 2023

Business Valuation Methods for Optometrist Practices

“What is my optometrist practice worth?” This is a question we get frequently from the medical community, and optometrists are no different.  Today and in the near future, there are a large number of professionals retiring nationwide who are curious about the worth of their business. The unfortunate part is that most optometrists don’t know […]

January 7, 2023

Get Ready for Tax Time

The new year means it’s time to make your resolutions. But it also means another tax season is here. Take time in January to get organized to make tax filing smooth for you and your tax professional. ORGANIZE YOUR FORMS You’ll receive the bulk of your tax forms by January 31. But if you believe […]

January 5, 2023

Purchasing a Farm: Land Depreciation vs. Amortization

Purchasing a farm may seem like a good investment opportunity. However, with further analysis, the net return is often much lower than anticipated. This typically happens because investors also view agricultural land as a stable investment. Not to worry — there are ways to immediately improve the ROI on the land through potential tax benefits. […]

January 1, 2023

RECORDED WEBINAR (10/28/22) Employee Retention Credit (ERC): Fact or Fiction?

This Recorded Webcast, featuring our CPAs – Clint Weeder and Andrew Steffensmeier, explains the ERC and helps business owners determine whether their business qualify and the different ways to qualify. Please also check out the Employee Retention Credit: Fact or Fiction Resource below.

October 31, 2022

Medicare Open Enrollment Is Here: How Are Costs Changing for 2023?

You can view more information on Medicare benefits in the Medicare & You 2023 Handbook and access a Medicare plan finder tool that allows you to compare health and drug coverage options at medicare.gov. You can also call your State Health Insurance Assistance Program (SHIP) for free, personalized counseling. Visit shiptacenter.org or call the toll-free […]

October 27, 2022

EPISODE #2 Fin. Topic Webinar Series – Business Transition to Next Generation (10/18/22)

For our second Financial Topic Webinar Series Jared Faltys and Tracey Buettner discuss best practices on transitioning your business to the next generation. Recorded 10/18/2022.

October 18, 2022

Now Might Be a Good Time for a Roth Conversion

One silver lining in the current bear market is that this could be a good time to convert assets from a traditional IRA to a Roth IRA. Converted assets are subject to federal income tax in the year of conversion, which might be a substantial tax bill. However, if assets in your traditional IRA have […]

October 5, 2022

EPISODE #1 Fin. Topic Webinar Series – College Planning (9/21/22)

For our first Financial Topic Webinar Series Andrew Steffensmeier and Stacy Dieckman provide insight on college planning. Recorded 9/21/2022.

September 22, 2022

Christmas in July!

We held a 🎄“Christmas in July”🎄 toy drive and challenged our staff to collect as many toys as we could for pediatric patients at Faith Regional. The generosity of our employees and their families was clearly displayed as we were able to donate over 300 toys! Thanks to our employees and their families for supporting […]

August 16, 2022

Lemonade Camp 2022

Our largest camp yet, 80 kids attended! Campers raised $955 for the Norfolk Library Foundation!

August 15, 2022

WEBINAR (5/19/22) – Crypto 101

Jared Faltys (CPA, PFS, CPFA) McMill CPAs & Advisors Partner, Paul Feilmeier (MS) NECC Vice President of Technology Services, and Nicole Sedlacek (CEcD) NPPD Economic Development Manager present the basics on cryptocurrency. Recorded 5/19/2022

May 20, 2022

Lemonade Camp 2022

Save the Date – Wednesday, August 3, 2022 We are looking forward to hosting Lemonade Camp 2022! McMill CPAs & Advisors has a mission to educate and bring simple, proven financial principals to the community, especially the local youth. Lemonade Camp is one of our favorite ways to do that! Incoming 1st through 6th graders […]

May 12, 2022

We Love Our Northeast Community College Interns

McMill CPAs & Advisors is a great place to begin your career. We are proud to partner with Northeast Community College in offering internships to students and keeping our graduates in our area of the state!

March 29, 2022

WEBINAR – Nebraska Property Tax Credit Look-up Tool Instructions for 2021

Clint Weeder and Andrew Steffensmeier discuss the Nebraska Property Tax Incentive Act that went into effect last year and the online look-up tool that helps you generate the info to give your tax preparer. This will help to complete your taxes properly and make sure you receive any tax credits you are due. Look-up tool: […]

February 11, 2022

LOCAL CPA FIRM CONTINUES TO GROW WITH AN EXCITING NEW ANNOUNCEMENT

McMill CPAs & Advisors, one of the largest financial firms in Northeast Nebraska, is excited to announce the addition of a new shareholder, Andrew Steffensmeier. He becomes a shareholder alongside Nancy Brozek, Jared Faltys and Clint Weeder. A native of Lincoln, Andrew now resides in Norfolk with his wife, Cortney, and their two daughters, Sunny […]

February 8, 2022
green plow on field in norfolk

Breaking Down Business Accounting Services by Industry

As a Norfolk small business owner, there are a lot of responsibilities that you have to juggle. Dealing with accounting and bookkeeping only adds to the stress and can be an extremely challenging space to navigate. This guide will help you learn about different business accounting services that are available and useful for different industries […]

February 4, 2022
corporate financial planning meeting

The Comprehensive Financial Planning Handbook

Financial planning can be a headache. From dealing with inflation to organizing a will, there are many financial responsibilities you have to deal with. Knowing where to start can be a challenge all on its own, which is why we developed a comprehensive financial planning handbook, so you can reference a guide on how to […]

January 31, 2022
CPA gives advice

A Small Business Owner’s Guide to Choosing the Right CPA

Small business owners deal with a constantly changing list of tasks and responsibilities. Having to balance books, prepare for tax season, process payroll, and numerous other financial tasks on top of running your business can take away even more time and cause frustration. Hiring a certified public accountant (CPA) can help you better manage your […]

January 29, 2022

A Business Owner’s Introduction to Cost Segregation Studies

The first few years of business can be the most challenging — money is typically tight, you’re just getting the word out, and you’re up against competition that has likely been in the market for a while now. In fact, research shows that less than 80% of small businesses make it longer than a year, […]

December 20, 2021

What Happens When You Don’t Have a Will and Power of Attorney?

Do you have a will and power of attorney? If not, you’re not alone. According to recent research, at least 68% of Americans do not have a will yet, with nearly 71.6% of those who do, having one that is not fully up-to-date. AARP adds that only slightly more than half of U.S. adults have […]

December 13, 2021

4 Ways Tax Advisors Help You Save Money

No one likes thinking about tax season. Between the paperwork and the payment of your hard-earned money, it’s no wonder that many people put off tax filing until the last moment. While it may feel that delaying the inevitable will save you time, it certainly won’t save you money. In fact, if you’re among the […]

December 6, 2021

What Is Land Depreciation, and How Can You Take Advantage of it?

Many small business owners struggle with balancing their books. Yet, from mom and pop stores to the trendiest tech startups, getting the numbers right is what guarantees business survival. The Small Business Agency estimates that about 30 percent of small enterprise failures arise out of cash flow problems. However, with proper accounting practices, it is […]

November 29, 2021

Keep Your Financial House Organized With an Estate Planning Firm

For many, the phrase “estate planning” evokes images of sprawling mansions and accountants hunched over a computer. For this reason, you might think that this essential preparation process doesn’t apply to you or your family. You might even be under the impression that you don’t need an estate plan at all.  On the contrary, estate […]

November 22, 2021

QuickBooks for Small Business in 2022

By now, QuickBooks has quickly become the ‘must-have’ accounting software for most small business owners. It’s not only highly-rated but highly efficient. Small business owners can count on it for managing invoices, tracking cash flows, paying bills, and more.  In fact, Investopedia ranks QuickBooks as the ‘Best Overall’ accounting software for small businesses, citing that […]

November 15, 2021

Tax Filing 101: Filing Self-Employment Taxes

As tax season rolls around, a large portion of the Norfolk population may find it challenging to complete their taxes properly. This becomes especially true as more people venture out of the traditional workforce and into self-employment, taking on more complex filing. Of the nearly 25,000 people living in Norfolk, Nebraska, at least 6.5% (or […]

November 8, 2021

Improve Your HVAC Business With Productivity Consulting

The most important step you can take towards business growth is increasing productivity in your HVAC business and preparing for the future. There are a lot of moving parts in the HVAC industry, from the start of a job to its finish. If time isn’t spent wisely, there’s a lot of room for missed opportunities. […]

November 5, 2021

Buy-Sell Agreement Overview: Why Your Business Should Have One

Every small business that hopes to extend its legacy needs to consider a buy-sell agreement. A buy-sell agreement will ensure you can protect the continuity of your business if anything happens to you or another shareholder, like disability or death. This kind of agreement removes any ambiguity in the succession plan and the owners’ exit […]

October 25, 2021

3 Mistakes a College Planning Consultant Helps You Avoid

When looking for ways to protect your finances while still ensuring your children receive the best education possible, there’s no better place to start than with a college planning consultant. The truth is, there’s nothing more important than being prepared and planning for your child’s future — especially today as tuition reaches new heights. A […]

September 28, 2021

A Complete 10-Step Year-End Tax Planning Checklist for Your Small Business

The approaching year-end signals the time to start preparing for tax season. Tax preparation and planning allow small businesses to stay ahead of the demands of tax season. For many of these businesses, year-end tax planning may be overwhelming and challenging, tempting you to procrastinate on the work that needs to be done. However, doing […]

September 24, 2021

How Will the Proposed Biden Tax Plan Affect Nebraska Business Owners?

As a small business owner, you have spent countless days worrying about your business as you grow it from the ground up. You’ve also likely faced the devastating effects of COVID-19 for almost two years now.  As you focus your time and energy on growing your revenues, growing a team, and working on your personal […]

September 1, 2021

What Does Rising Inflation Really Mean for Consumers?

Chances are, you’ve been worrying about the potential for rising inflation since the pandemic — and what this means for your purchasing power. This may also have you wondering where you should put your money, and you’re not the only one. The truth is, rising inflation is here, and small businesses everywhere are asking for […]

August 31, 2021

Lemonade Camp 2021

McMill CPAs & Advisors hosted 1st-6th grade children in August 2021 to discover how to be an entrepreneur by learning how to start and run their own business – a lemonade stand. Nearly 60 campers were able to raise $798 for the Norfolk Arts Center!

August 29, 2021
Lemonade Camp 2021 - Group Photo

Lemonade Camp 2021

The campers at Lemonade Camp in 2021 crushed their goal! See details about their day here.

August 20, 2021
Lemonade Camp

Lemonade Camp 2020

During the summer, McMill CPAs & Advisors host a Lemonade Camp. We teach kindergarten through fifth-grade children to be an entrepreneur by learning how to start and run their own business – a lemonade stand! Here are some photos from the 2020 Lemonade Camp.

August 17, 2021

Inflation Concerns Webinar

August 10, 2021

Business Valuation Services: Why You Need to Know Your Value?

The COVID-19 pandemic, uncertain market conditions, and potential tax law changes continue to impact small business owners and their families nationwide, and our community is no different. It has left many owners unsure of what the future may hold for their business and what planning they should consider to keep their business viable for years […]

August 4, 2021

5 Questions to Ask Before Hiring a Personal Financial Specialist

As a business owner, if you are considering partnering with a personal financial specialist (PFS), you are on the road to mastering your financial future. You may have reached a position in your small business where you have accumulated enough assets and feel the need to work with an expert.  And most importantly, you want […]

August 4, 2021

5 Compelling Reasons Why Small Businesses Need a CPA

Many small businesses lack the capacity and the financial muscle to manage specific functions effectively. Preparation of financial statements and complying with the federal tax laws are among the most challenging functions that can put small businesses at risk.​​As a business owner, do you find yourself wondering if your business is maximizing profit? Do you […]

August 4, 2021

Child Tax Credit

Recently, there were changes made to the child tax credit that will benefit many taxpayers. As part of the American Rescue Plan Act that was enacted in March 2021, the child tax credit: Amount has increased for certain taxpayers Is fully refundable (meaning you can receive it even if you don’t owe the IRS) May […]

June 24, 2021

Be Prepared

Natural and human-made disasters can strike anywhere and anytime. Here are ways your business can be prepared. Identify all your risks. Hurricanes, floods and wildfires may be on your list. But consider prolonged power outages and cyber threats. Develop an emergency plan, communicate employees’ responsibilities and have alternate locations where you can work. Design a […]

June 2, 2021

Valuing Your Business

Knowing how much your business is worth can do more than figure out how much money you can get when you sell it. Creating an accurate valuation is part of an ongoing business strategy. COMPARING AND PROJECTING Think of a business valuation as an appraisal, which is generally created by analyzing a company’s tangible and […]

May 19, 2021

Professional Financial Designations

When it comes to managing your personal finances, you need the right financial professional on your team. Knowing the differences between the various professional designations will help. CPA (Certified Public Accountant): One of the more widely recognized certifications. These professionals are tax and accounting specialists who can help with reducing taxes, preparing tax returns, and […]

May 12, 2021

Big Changes to Child Tax Credit

The American Rescue Plan Act, signed into law in March 2021, made significant changes to the child tax credit for 2021 only — unless Congress extends these changes. OLDER CHILDREN COVERED The tax credit now includes children who are age 17 as of December 31, 2021. INCREASED AMOUNT The credit amount increased from $2,000 to […]

May 5, 2021

Restaurant Revitalization Fund (RRF)

Applications are now open for restaurants and other eligible businesses that have been impacted by COVID-19. The Restaurant Revitalization Fund (RRF) was established under the American Rescue Plan Act and provides up to $10 million per business and no more than $5 million per physical location for pandemic-related revenue loss. Businesses will not have to […]

May 3, 2021

Understanding Interest Rates

From a mortgage to credit cards, interest rates affect nearly everyone’s budget. Understanding how interest rates are set and how your credit score affects the rate you receive can show you ways to potentially pay less. HOW RATES ARE SET The twelve Fed members of the Federal Open Market Committee set the federal funds rate. […]

April 27, 2021

Reminder of Special Tax Breaks

The December 2020 stimulus package provided a few noteworthy tax breaks for companies. A temporary tax break for 2021 and 2022 allows businesses to deduct 100% of business meals eaten at a restaurant, up from the usual 50%. For businesses hard hit by the COVID-19 pandemic, the Employee Retention Tax Credit is available for the […]

April 7, 2021

Tax Benefits for Education

The IRS provides numerous tax breaks for higher education expenses. Tax credits and tax-deferred savings plans take some of the sting out of paying for college. TAX CREDITS The American Opportunity Tax Credit is available to students in the first four years of higher education. Using this credit can offset up to $2,500 of qualified […]

April 2, 2021

American Rescue Plan Act signed—a quick look

President Biden signed the American Rescue Plan Act today, March 11th, 2021. Among the act’s many provisions there are several tax related items to pass along. Here is a look at the key tax provisions that may affect you: Unemployment benefits The act makes the first $10,200 in unemployment benefits tax-free in 2020 for taxpayers […]

March 11, 2021

Deductibility of business meals provided by restaurants in 2021 and 2022

You’ve probably heard that the recent stimulus legislation included a provision that removes the 50% limit on deducting business meals provided by restaurants in 2021 and 2022 and makes those meals fully deductible. Here are the details. In general, the ordinary and necessary food and beverage expenses of operating your business are deductible. However, the […]

December 29, 2020

ImagiNE Nebraska Act

Is expansion in the future for your business located within the State of Nebraska?   Nebraska passed LB 1107 ImagiNE Nebraska Act on August 17, 2020 to help businesses grow their workforce and/or invest major funds into buildings or equipment.    This incentive program will replace the 2005 Nebraska Advantage Act which is currently in place. There […]

September 28, 2020

Clint Weeder is Recognized as a 40 Under Forty Honoree

McMill CPAs & Advisors is pleased to announce that Clint Weeder has been recognized as a 2020 “40 Under Forty” honoree by the National Association of Certified Valuators and Analysts (NACVA). The 40 Under Forty program recognizes emerging leaders for their past accomplishments and their contributions yet to come. Clint is a shareholder at McMill […]

August 28, 2020

Special Edition Lemonade Camp 2020!

McMill CPAs & Advisors is proud to announce the success of Lemonade Camp 2020!  We are thankful for the community support of our two lemonade stand finalists who collectively raised over $1,400 for their selected charities, Christ Lutheran School and the Animal Shelter of Northeast Nebraska.  Both lemonade stands will also have a portion of […]

August 28, 2020

VIDEO – David Booth on Value and Values

David Booth, Dimensional Executive Chairman and Founder, on Value and Values. History shows that you can’t time stock returns. To capture the market’s historical premiums, you have to be patient. dimensional.com

August 18, 2020

A Message of Hope Series: Dave Ramsey, Rachel Cruze and Ken Coleman

Hope is greater than fear. Join bestselling authors Dave Ramsey, Rachel Cruze and Ken Coleman as they give super practical, super clear advice on what you need to do with your money and career right now.

March 27, 2020

McMill Tax Letter

October 16, 2019 To Our Clients and Friends: With year-end approaching, now’s the time to take steps to cut your 2019 tax bill. Here are some relatively foolproof year-end tax planning strategies to consider, assuming next year’s general election doesn’t result in retroactive tax changes that could affect your 2020 tax year. Year-end Planning Moves […]

February 12, 2020

Business Owners Resolve To Become More Competitive

Business owners typically have little time for planning. However, making that time during this New Year — and new decade — can help most businesses become more competitive now and in the future. PLAN YOUR SUCCESSION Whether you plan to eventually sell your business to strangers or pass it down to the next generation, succession […]

January 20, 2020

You, Your Retirement, and the SECURE Act

You may have missed the news – buried in a much bigger spending bill, and passed in the thick of the holiday season. But after months of nearly bringing it to the finish line, it’s now official: On Friday, December 20, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into […]

January 10, 2020

Resolve To Become More Financially Secure

Many people make resolutions to coincide with the advent of the New Year, including becoming more financially secure. If you want to improve your financial outlook, now is a good time to take steps to achieve this goal. TAP THE EXPERTS You go to a doctor for medical care and a mechanic to fix your […]

January 6, 2020

Lacking Confidence

Few employers are “very confident” their employees are on the way to becoming retirement-secure, according to the report, “Employers: The Retirement Security Challenge,” from the Transamerica Center for Retirement Studies. Only 17% of employers felt very confident, which lined up with 18% of employees who felt the same. About 23% of employers were not too […]

January 6, 2020

There’s Still Time

Individuals have a few tax breaks to explore. The IRS disallows many deductions if you take the standard deduction, but not all, for 2019. For example, you can deduct some expenses related to self-employment if you’re self-employed. Student loan interest and college tuition and fees may also be deductible. Talk to your tax professional to […]

December 23, 2019

Tax-Loss Harvesting

If investments you sold in 2019 lost money, you may find some solace in the IRS tax code. You can deduct certain losses from your taxable income – called tax-loss harvesting – when you understand the rules. Here they are briefly: TERMS DEFINED For starters, the IRS has separate tax rates for long-term investments – […]

December 23, 2019

2020 W-4 Update

On Dec. 5, the IRS released the long-awaited final version of the 2020 Form W-4, retitled Employee’s Withholding Certificate, with major revisions designed to make accurate income tax withholding easier for employees starting next year. All new employees hired as of Jan. 1, 2020, must complete the new form. Current employees are not required to […]

December 13, 2019

Update from McMill Wealth Regarding TD Ameritrade

It was confirmed that Charles Schwab and TD Ameritrade are combining (11/25/19).  This has no bearing on our firm and we will still manage the accounts in the same manner we previously have.  We have had a relationship with both firms for a long period of time and will evaluate possible changes to make sure […]

December 4, 2019