by George Dimov | Oct 2, 2018 | NYC Accounting
No matter where your income is coming from, you have to pay taxes on it. The IRS expects to receive tax payments on your income as you earn it, not just at the end of the fiscal year. Some employed people will have their taxes withheld from their paychecks and sent...
by George Dimov | Sep 10, 2018 | NYC Accounting
Partnerships don’t pay federal income tax. Instead, the partnership’s income, losses, deductions, and credits pass through to the partners themselves, who then report these amounts as part of their personal income tax returns. Even though partnerships...
by George Dimov | Sep 6, 2018 | NYC Accounting
If you’re studying for accounting or you need to hire an accountant, it’s important that you know what a tax accountant does. There are many different titles in the field of accounting, and a tax accountant will work with either individuals or corporations...
by George Dimov | Aug 28, 2018 | NYC Accounting
Medical expenses can be quite cumbersome, especially if you have unforeseen emergencies that are not completely covered by your insurance. The Internal Revenue Service (IRS) makes some of these medical expenses partly tax-deductible in order to give taxpayers a break....
by George Dimov | Aug 24, 2018 | NYC Accounting
Explaining taxation ESPPs isn’t as hard as it sounds. ESPP stands for Employee Stock Purchase Plan. When you buy a stock under an ESPP, the income isn’t taxable at the time you purchase it. Instead, you’ll get the income and pay taxes on it when you...
by George Dimov | Aug 9, 2018 | NYC Accounting
Being a property manager has always been your dream. You get to be your own boss, and you love managing properties too. What you don’t love, though, is dealing with all the finances. You didn’t go to school for accounting, so you’re struggling. Well,...