Posts by Yuriy Akopyan, CPA
Can a Self-Employed Taxpayer Mix Business and Pleasure During Foreign Travel and Still Get a Tax Deduction?
Article Highlights: 100% Business Primarily Vacation Primarily Business Special Circumstances Foreign Conventions, Seminars, and Meetings Cruise Ships Spousal Travel Expenses Note: the business expenses discussed in this article – both…
Read MoreManaging Gains and Losses in a Turbulent Year
Article Highlights: Rough Year for the Stock Market Year End Approaching Annual Capital Losses Are Limited Be Aware of Wash Sale Rules Off-Set Short-Term Gains with Long-Term Capital Losses Planning…
Read MoreIRS Unveils Retirement Plans Inflation Adjustments for 2023
Article Highlights: Planning for the Future Inflation-adjusted Contribution Amounts IRAs Employer 401(k)s HSAs TSAs SE Retirement Plans SEPs Are you ignoring your future retirement needs? That tends to happen when…
Read More2023 Social Security Cost-Of-Living Increase Highest In 40 Years
Article Highlights: 2023 Social Security COLA Increase Historical COLA Increases Keeping Inflation At Bay Medicare Premium Decrease Medicare Income Adjusted Tables for 2023 Modified Adjusted Gross Income How Gambling Can…
Read MoreHow to Financially Prepare for 2023 – In Case of a Recession
The growing consensus among economists is that the U.S. economy will enter a recession in 2023. Recessions tend to go hand in hand with major stock market declines and widespread unemployment.…
Read MoreTax Benefits for Child Daycare Providers and Users
Article Highlights: Daycare Providers Simplified Food Deduction Special Rules for Business Use of the Provider’s Home Home Sale Consequences Other Expenses Other Daycare Provider Issues Daycare User Credit Employer Dependent…
Read MoreNew Payroll Tax in Washington State (earn over $300,000 a year?)
Do you work at Amazon, Microsoft, Facebook, F5 Networks, or any of the other large tech employers in Washington State? Do you earn over $300,000 a year? If so, read…
Read MoreWhat Happens If You Can’t Pay Your Taxes?
What happens if you complete your tax return and find that you can’t pay the amount you owe? This isn’t supposed to happen. You’re supposed to pay income taxes gradually…
Read MoreOctober 2021 Individual AND Business Tax Due Dates
October 2021 Individual Due Dates October 12 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during September,…
Read MoreThe Importance of a Well-Oiled Accounting Function
Though it’s natural for management to focus on its profit-making areas, the importance of a sound accounting foundation to support the operation cannot be overemphasized. The more diligent and meticulous…
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