by George Dimov | Jul 27, 2019 | NYC Accounting
The IRS recently announced that they will be sending letters to 10,000 taxpayers regarding missing cryptocurrency transactions from their returns. Amending return is crucial in such cases to avoid penalties. There are three notices being sent out, most typically...
by George Dimov | Jan 14, 2019 | NYC Accounting
When it comes to taxes, there are numerous factors that need to be considered. This is especially true for business owners. A limited liability company (LLC) is one of the newest forms of businesses that is actually formed through the state. Because these types of...
by George Dimov | Jan 8, 2019 | NYC Accounting
Investing in real estate offers several benefits, especially during tax season. With NYC property values rising for the sixth consecutive fiscal year in 2017, more people are turning to real estate investments. If you’re considering investing in real estate or have...
by George Dimov | Jan 2, 2019 | NYC Accounting
As a homeowner, understanding what you can and can’t deduct from your taxes is crucial. The tax system may seem straightforward, but it becomes more complex if you own a second home. Let’s explore key differences in tax breaks based on whether you use the second...
by George Dimov | Dec 11, 2018 | NYC Accounting
When it comes to knowing what kind of items can be tax exempt or tax-deductible, you may be confused. There are certain items that are easy to understand — like how uncut bagels in NYC are tax exempt while sliced bagels have an 8.875% sales taxed as it counts as...
