George Dimov, CPA (@GeorgeDimovCPA) / X

George Dimov, CPA

967 posts

George Dimov, CPA

@GeorgeDimovCPA

Tax compliance and accounting professional

United States

Joined July 2016

Pinned
George Dimov, CPA
@GeorgeDimovCPA
Jul 3, 2024
Dimov Tax helps with any and all personal tax resolution, planning, strategy, and filing matters, as well as due diligence, forensic accounting, and business accounting services. 📲Still accepting new clients! Call (866) 471-3164
George Dimov, CPA
@GeorgeDimovCPA
Jul 31, 2021
Hi Everyone! Are you a contractor, sole proprietorship, single-member LLC, DBA? You could be saving up to 7% by restructuring your company to an S-corp. We can determine whether converting your business to an S-corp is the right thing to do. Thanks! George Dimov, CPA
George Dimov, CPA
@GeorgeDimovCPA
Oct 10, 2024
If you’re involved in crypto, understanding how taxes work is crucial: Taxable Events: Selling, trading, spending, or earning crypto? All of these are taxable. Even receiving crypto from mining or staking is taxable as income. Gains & Losses: You’ll be taxed on capital gains
George Dimov, CPA
@GeorgeDimovCPA
Feb 18, 2025
Ever wondered if you can take legal action against the IRS? While it's challenging, there are situations where suing the IRS is possible: Wrongful Collection Actions – If the IRS harasses or recklessly collects taxes (IRC § 7433). Refund Disputes – If the IRS delays or denies a
George Dimov, CPA
@GeorgeDimovCPA
Jul 18, 2024
This week’s tax tips have to do with retirement accounts. Retirement accounts can be your golden ticket! Let's dive into the tax benefits to help you make informed choices. 💪 💰 Tax-Deferred Contributions: With traditional IRAs and 401(k)s, you get an instant tax break!
George Dimov, CPA
@GeorgeDimovCPA
Mar 11, 2025
Even if you live outside New York, certain situations may require you to pay New York state taxes, read in our carousel post. ⤵️ Tips for Managing New York Tax Obligations: Maintain Detailed Records: Keep thorough documentation of all income sources and time spent in New York,
George Dimov, CPA
@GeorgeDimovCPA
Dec 15, 2020
Replying to @scorpiosoul9
Yes, started about 30 min ago
George Dimov, CPA
@GeorgeDimovCPA
Nov 6, 2024
📄 Form 1042-S is required when providing scholarships to non-resident aliens in the U.S., especially when the award includes taxable portions like: 💰 Room & board 📚 Travel expenses 🖥️ Supplies beyond tuition & fees 📝 Important Steps: Withholding Taxes: Depending on tax
George Dimov, CPA
@GeorgeDimovCPA
Jan 23, 2022
Want to guess how much tax you owe next year? We need to know a couple of things first. Did you withhold enough tax this year? How do your books look? Have you moved states? Any newly acquired equity? Please let us know! George Dimov, CPA [email protected] (833) 829-1120
George Dimov, CPA
@GeorgeDimovCPA
Sep 13, 2024
Howdy folks! 👋 In our never-ending quest to make tax burdens lighter, we’ve got some recommendations for you that we think can help you save a truckload of cash. Do you know what flavor combo of business entities are the most optimized for your financial situation? Hundreds of
George Dimov, CPA
@GeorgeDimovCPA
Jan 14, 2025
Navigating business taxes is crucial for every entrepreneur. Here's a concise overview to help you stay compliant and financially healthy: Types of Business Taxes: -Income Tax: All businesses, except partnerships, must file an annual income tax return. The form you use depends
George Dimov, CPA
@GeorgeDimovCPA
Nov 21, 2021
Today’s exciting tax news is all about refunds. There’s a time limit to how long you can amend your return and receive a refund if any mistakes were made! We can review your past filings for hidden tax savings opportunities! George Dimov, CPA (833) 829-1120 [email protected]
George Dimov, CPA
@GeorgeDimovCPA
Oct 28, 2024
Feeling overwhelmed by taxes? You’re not alone! Here are some common reasons people face big tax bills: 💰 Cashing out retirement accounts: Early withdrawals can come with penalties. 🪙 Selling crypto without setting aside enough for taxes. 📈 Stock options: Exercising ISOs
George Dimov, CPA
@GeorgeDimovCPA
Jul 19, 2024
Hi Everyone! 👋 If you are in business, freelance, self-employment, contract labor, 1099-NEC, etc., please read on! 💼 Tax breaks 💰 For those of you that may be new to these types of income, the good news is that we have quite a few deductions that apply to us. The full list