Milton Financial Group is an accounting, finance, tax, and business management firm located in Braintree, Massachusetts. With over 30 years experience in the accounting field, President and CEO William T. Pappafotopoulos founded Milton Financial Group in 1985 and currently serves venture capital, bioscience, business, and financial firms, among others. Prior to forming Milton Financial Group, Mr. Pappafotopoulos held financial, accounting and management positions in Fortune 100 companies, including Johnson & Johnson and Raytheon, and in the government, at the Internal Revenue Service. Mr. Pappafotopoulos received a B.S. in Accounting from Salem State University and an M.B.A. from Suffolk University.
Along with his team of outstanding professionals, Milton Financial Group was awarded "FIVE STAR WEALTH MANAGER" in Boston Magazine for outstanding service and financial expertise.
Our key mission is to personally assist you in solving economic challenges to meet your financial needs. Whether your focus is on how to manage your business, paying taxes, utilizing your savings or planning for college and/or retirement, we can help guide you through the complex process. Specializing and offering part time controllerships is a unique feature of the firm and several start-up companies have benefited by using this option.
Benefits of using MFG
In this age of technology with tax programs online, not everyone may need the assistance of a tax professional, but if your financial status is a bit complex, getting the appropriate tax advice could save you time and money. Ask yourself the following questions to determine how much help you may require.
1. Do you have the time? In most cases, it can take over 28 hours to research tax law, organize your records, and complete a standard 1040 return with three common schedules: Schedule A for itemized deductions, Schedule B for interest and dividends, and Schedule D for capital gains. The Form 1040 instruction booklet, alone is more than 130 pages long.
2. Are you comfortable using computer software programs? If you are comfortable using computers and various software programs, you may benefit from using tax preparation software. However, if you are not technologically savvy and are unaccustomed to using tax software, you may want to seek some help.
4. Have you kept up with changing tax laws? Tax laws are constantly changing and getting more complex. If you plan on doing your own taxes, it?s important that you keep up to date on the latest changes and how they affect your situation.
5. Have you had a major life change such as marriage or divorce? Lifestyle changes often call for specialized help, both in terms of taxes and financial planning opportunities.
6. Have you exercised incentive stock options or actively traded stocks? Complex returns have more gray areas where judgment calls and expert advice can make a significant difference.
7. Do you own a vacation home or rental property? Owning a second home, particularly one that you rent out, can complicate your tax situation. For example, depending on how often you rent the house and how much you use it yourself, different tax rules apply.
8. Are you self-employed or do you own a small business? Self-employed individuals and small business owners are frequently the targets of IRS audits. Working with a professional can help your business minimize audit risk.
9. Do you have high income or live in a state with high income taxes? Watch out! You may be subject to the Alternative Minimum Tax or AMT. The AMT, which eliminates many itemized deductions, was created to ensure that the wealthy pay their share of taxes. But because the thresholds have not been adjusted regularly for inflation, more people are finding themselves subject to this tax.