Archives: NEWSLETTERS

FOR IMMEDIATE RELEASE October 8, 2025 MillerMusmar CPAs Proudly Sponsors “Titans of the Toll Road: The Next Steps to an AI-Powered Future” Reston, VA — MillerMusmar CPAs is proud to serve as an Executive Sponsor of the upcoming Titans of the Toll Road event, “The Next Steps to an AI-Powered Future: How Artificial Intelligence Will Change Everything,” hosted by the Greater Reston Chamber of Commerce’s Innovation & Technology Council. AI isn’t just a buzzword — it’s transforming industries, reshaping the workforce, and redefining how businesses compete. This year’s event will go beyond theory to give attendees practical tools, insights, and next steps to put

At MillerMusmar CPAs, we understand the unique challenges government contractors face during periods of uncertainty. A government shutdown — even a short one — can cause significant ripple effects for small and mid-sized contractors, especially subcontractors. Delays in payments, contract modifications, and staffing disruptions can strain both operations and compliance. While the timeline and scope of any shutdown are unpredictable, preparation is within your control. Below, we outline key areas where we encourage you to focus now to protect your business and position yourself to weather potential disruptions. Cash Flow & Liquidity Reserves planning: Shutdowns often delay payments to

Signed into Law: July 4, 2025 Effective Date: Most changes start January 1, 2026 President Trump signed the OBBBA into law on July 4, 2025. The Act introduces comprehensive tax reforms, extending and making permanent key provisions from the 2017 Tax Cuts and Jobs Act (TCJA), along with several new rules—primarily impacting high-income individuals. Note: “Permanent” laws have no set expiration date, but may be changed by Congress in the future. Key Provisions Individual Tax Changes Estate, Gift & Generation-Skipping Transfer Taxes Lifetime exemption increases to $15 million per individual (up from ~$14 million), adjusted annually for inflation.The exemption

The business landscape is an ever-evolving urban jungle. Safeguarding your assets is not just a good practice; it’s a necessity. Unforeseen circumstances, such as lawsuits, economic downturns, or operational failures, can place you and your business assets at a significant legal risk. Particularly for small to medium-sized enterprises, the stakes can be high. Therefore, having a robust asset protection strategy in place not only shields your hard-earned investments but also provides peace of mind. 1. Establish an LLC or Corporation Setting up a Limited Liability Company (LLC) or a corporation is one of the most effective asset protection strategies

MillerMusmar CPAs offers specialized services to help government contractors navigate the complexities of the Federal Acquisition Regulation (FAR) and Cost Accounting Standards (CAS). Our team of experienced professionals is dedicated to ensuring your accounting systems and practices comply with these stringent regulations, thereby facilitating successful government contract acquisitions and executions.​  Understanding Cost Accounting Standards (CAS)  The Cost Accounting Standards are a set of 19 standards established to ensure uniformity and consistency in cost accounting practices among government contractors. These standards cover various aspects of cost accounting, including:​   CAS 401: Consistency in Estimating, Accumulating, and Reporting Costs​   CAS 402: Consistency

On Monday, April 7, 2025, the MillerMusmar CPAs team was honored to participate in the 47th Annual Fairfax County Valor Awards, continuing our long-standing tradition as an Executive Sponsor of this prestigious event. For more than 11 years, MillerMusmar CPAs has proudly supported the Fairfax County Valor Awards, a significant annual ceremony hosted by the Greater Reston Chamber of Commerce that recognizes the heroic contributions of our community’s first responders. This year’s gathering was held at the Westfields Marriott in Chantilly, VA, featuring a series of inspiring narratives that highlighted courage, quick action, and steadfast dedication. The afternoon was

MillerMusmar CPAs Announced as Executive Sponsor of the 47th Annual Fairfax County Valor Awards. Reston, VA – MillerMusmar CPAs is proud to announce its role as an Executive Sponsor of the 47th Annual Fairfax County Valor Awards, organized by the Greater Reston Chamber of Commerce. The event, which will take place on Monday, April 7, 2025, at the Westfields Marriott Washington Dulles, celebrates the extraordinary bravery and dedication of Fairfax County’s first responders. Since 1979, the Valor Awards have recognized the courageous acts of local police officers, sheriff’s deputies, public safety communications staff, and fire and rescue personnel, honoring

FOR IMMEDIATE RELEASEMarch 19, 2025 MillerMusmar CPAs Partners with PilieroMazza and MainStreet Bank for Successful GovCon Event Sterling, VA – On March 19, 2025, MillerMusmar CPAs, in partnership with MainStreet Bank and PilieroMazza, hosted an impactful and insightful event titled “The Impact of White House Executive Orders on Government Contractors.” The event took place at the MainStreet Bank Operations Center in Sterling, VA, and brought together government contractors and industry experts to discuss the evolving federal contracting landscape. The event featured two highly respected speakers: Joey Musmar, CPA, Managing Partner at MillerMusmar CPAs, and Isaias “Cy” Alba, Partner at

Overview of Benefits under IRC §45E for Small Employer Pension Plans The Internal Revenue Code (IRC) §45E provides significant tax incentives to small employers who establish qualified retirement plans for their employees. These incentives are designed to encourage small businesses to offer retirement benefits, enhancing financial security for employees and providing valuable tax relief for employers. Key Benefits of IRC §45E: 1. Startup Costs Credit (Up to $5,000): Small employers can claim a credit of 50% of eligible startup costs, up to a maximum of $5,000 per year, for the first three years of establishing a qualified plan. This

Introducing Canopy Secure Client Portal We are excited to announce that MillerMusmar CPAs is introducing a new tool called Canopy, designed to enhance the quality of our service. This platform will streamline our processes, improve communication, and make managing your tax and accounting needs more efficient. We look forward to sharing this journey with you! Please take a moment to watch this brief video from our Managing Partner, Joey Musmar, where he introduces Canopy and explains how it will benefit you: You will soon receive an invitation to register. Simply click the link in the invitation to create your