Posts by Yuriy Akopyan, CPA
Estate & Inheritance Taxes: What Spouses and Beneficiaries Should Know
When it comes to estate and inheritance taxes, spouses and beneficiaries should be aware of several important factors that can affect the distribution of assets from a decedent’s estate. Here’s…
Read More2024 IRS Update on ERC Claim Processing (Concerning Pending ERC Claims)
As of September 2024, the IRS has resumed processing Employee Retention Credit (ERC) claims after pausing to address concerns over fraudulent submissions. The agency is now accelerating the review of…
Read MoreKeeping Track of Your Business Expenses Effectively – Avoid Problems With the IRS (Business Records)
Keeping track of business expenses is crucial not only for maintaining financial health but also for ensuring compliance with tax regulations and avoiding issues with the IRS. Here’s a guide…
Read MoreWhat Is the Saver’s Tax Credit? (Retirement Savings Contributions Credit)
The Saver’s Tax Credit, officially known as the Retirement Savings Contributions Credit, is a non-refundable tax credit available to eligible taxpayers who contribute to retirement accounts. This credit aims to…
Read MoreDoes Your Employer Offer Emergency Savings Accounts?
Article Highlights: Understanding Emergency Savings Accounts Plan Contributions Automatic Enrollment Opting Out of Automatic Enrollment Roth-Like Basis and Employer Matching Contributions Withdrawals and Transition Options In a significant move to…
Read MoreJune 17, 2024, Filing Extension: Essential Relief for Disaster Areas
Article Highlights: Disaster Filing Relief Qualifying Disaster Areas Types of Returns That Qualify Applying for Additional Extension Time Payment Deadline Reminder Relief for Other Disaster Areas Considering recent natural disasters,…
Read MoreDoes a Foreign Entity Need a U.S. Identification Number?
Article Highlights: Foreign Entities Conducting Business in the U.S. S. Address Applying for an EIN By Telephone EIN Online By Fax or Mail Updating EIN Information It is mandatory for…
Read MoreDo I have to pay taxes on an inheritance in Washington state?
While there is no inheritance tax in Washington, another state’s inheritance tax could apply to you. For example, in Pennsylvania, the inheritance tax applies if the dead person lived there, even…
Read MoreNavigating the R&D Tax Credit Maze: What SMBs Need to Know Amid Legislative Uncertainty
The landscape of tax legislation in the United States has been marked by constant evolution, with changes often reflecting the broader economic and political priorities of the time. One area…
Read MoreThe $14.6 Billion Question: How a Massachusetts Endowment Tax Could Reshape Higher Education
The Massachusetts state legislature is currently deliberating on a bill that could have far-reaching consequences for the state’s academic institutions, including heavy-hitters like Harvard University and the Massachusetts Institute of…
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