BakmanYusupov&Co

All things Accounting, Tax, and Advisory. Accounting is the language of business and oof how much we love to speak!

[BakmanYusupov&Co @BYTaxAdvisory]

Welcome to Bakman Yusupov & Co, your comprehensive partner in all things business! We offer expert services in tax planning and preparation, accounting and bookkeeping, business consulting, financial statement preparation, payroll services, and IRS representation. Our approach combines deep understanding with technical accuracy, building lasting relationships with our clients while helping their businesses thrive. We love being on X and look forward to having a strong presence here, sharing insights and connecting with our community! #NYCTax #QueensCPA #BusinessExperts #TaxTwitter

[BakmanYusupov&Co @BYTaxAdvisory]

@gregisenberg @RaminNasibov Wasn’t 1.5 the best? Or am I not remembering correctly

[OSINTdefender @sentdefender]

Syria’s transitional government has located remnants of the clandestine chemical weapons program operated under Former Syrian President Bashar al-Assad, including raw materials and munitions similar to those used to carry out deadly gas attacks, killing over a thousand and injuring tens of thousands, during the Syria Civil War, according to Reuters.

Syrian teams, working with inspectors from the Organization for the Prohibition of Chemical Weapons (OPCW), have located more than 70 rockets and aerial bombs, as well as raw ingredients for the production of the nerve agent Sarin. While Syrian authorities have taken into custody 18 suspects for alleged involvement in Assad’s chemical weapons program, including high-level military, political and technical officials previously serving in the Syrian Arab Army.

[BakmanYusupov&Co @BYTaxAdvisory]

@vulturetrades Following

[BakmanYusupov&Co @BYTaxAdvisory]

@Polymarket @grok chances it will be passed

[BakmanYusupov&Co @BYTaxAdvisory]

💼 IRS Alert: Starting in 2025, the IRS is rolling out a new feature—digital scanning of paper-filed tax returns to speed up processing! 📄➡️💻

If you're still filing by mail, this could mean faster refunds and updates for your business.

#IRSServices #TaxUpdate #CPA #SmallBusiness #TaxEfficiency #TaxPlanning #Payroll

[BakmanYusupov&Co @BYTaxAdvisory]

📊 Wednesday Wisdom 📊
Planning for your 2024 tax return starts now! Organize important documents like receipts, payroll records, and expense reports early. The more prepared you are, the smoother tax season will be. Need expert help? We’ve got you covered!
#WednesdayWisdom #TaxPlanning #SmallBusinessTips #CPAFirm #TaxSeasonPrep #2024Taxes #OrganizedFinances

[BakmanYusupov&Co @BYTaxAdvisory]

💼 Payroll Tip for Small Businesses 💼

As the year-end approaches, it’s a good time to double-check payroll records for accuracy. Correcting errors now will ensure smooth tax filing in 2024. 💡 Need help with payroll compliance? We’ve got you covered!

#SmallBusiness #PayrollTips #YearEnd #TaxPrep #CPAFirm #PayrollCompliance #TaxFiling

[BakmanYusupov&Co @BYTaxAdvisory]

💼 Business Tax Tip Thursday: Don’t Forget About Estimated Taxes! 💼

If you're a small business owner or self-employed, make sure you're paying your quarterly estimated taxes on time. The next payment deadline is September 15! Missing these payments can result in interest and penalties.

Not sure how much to pay? A tax professional can help calculate based on your income and deductions. Plan ahead to stay compliant!

#SmallBusinessTax #EstimatedTaxes #IRSTaxTips #SelfEmployed #TaxPlanning #BusinessFinance #ThursdayTips

[BakmanYusupov&Co @BYTaxAdvisory]

🚨 IRS Reminder for Small Businesses 🚨

Did you know? Employers must deposit payroll taxes (withheld federal income tax, Social Security, and Medicare) according to your deposit schedule (monthly or semi-weekly).

❗️ Missing these deadlines can result in penalties. Stay on top of it to avoid unnecessary fees! Need help understanding your schedule or how to calculate deposits? Reach out to a tax professional.

#IRSPayroll #SmallBusinessTips #TaxCompliance #TaxDeadlines #PayrollTax #BusinessFinance #TaxHelp

[BakmanYusupov&Co @BYTaxAdvisory]

📊 Depreciation Deduction: Don’t Miss Out!

Business owners, are you taking full advantage of depreciation deductions on your assets? 🚜 From vehicles to office equipment, understanding depreciation can significantly reduce your tax liability. Let’s ensure you’re maximizing your deductions!

#Depreciation #TaxPlanning #SmallBusiness #IRS #CPAFirm #TaxDeductions #BusinessFinance

[BakmanYusupov&Co @BYTaxAdvisory]

📈 Save for the Future with a SEP IRA!

Are you a small business owner or self-employed? A Simplified Employee Pension (SEP) IRA can help you save for retirement while enjoying significant tax benefits. 🏦 Contribute now and reduce your taxable income for 2024!

#SEPIRA #RetirementPlanning #SmallBusiness #TaxSavings #CPAFirm #IRS #FinancialPlanning

[BakmanYusupov&Co @BYTaxAdvisory]

🚀 Boost Your Business with R&D Tax Credits!

Are you investing in innovation or improving your products? You might qualify for the Research & Development (R&D) tax credit! 🧪 It's a fantastic way to lower your tax liability and reinvest in growth. Let’s explore your eligibility today!

#RDTaxCredit #SmallBusinessGrowth #TaxSavings #CPAFirm #IRS #Innovation #BusinessFinance

[BakmanYusupov&Co @BYTaxAdvisory]

🔍 Understanding IRS Penalties: Avoid Costly Mistakes!

Did you know the IRS can impose penalties for underpayment or late filing? 🕒 Stay ahead by ensuring your estimated taxes are accurate and filed on time. We're here to help you navigate these rules and avoid unnecessary costs!

#TaxPenalties #IRS #SmallBusiness #TaxPlanning #CPAFirm #FinanceTips #TaxSeason

[BakmanYusupov&Co @BYTaxAdvisory]

💼 Did You Know? The IRS Offers a Fresh Start Program!

If you're struggling with tax debt, the IRS Fresh Start Program could help you reduce or settle your debt. 💡 Don’t let unpaid taxes weigh you down—explore your options with a tax professional today!

#FreshStartProgram #TaxDebtRelief #IRS #CPAFirm #FinancialFreedom #TaxHelp #SmallBusiness

[BakmanYusupov&Co @BYTaxAdvisory]

📝 Charitable Contributions: Maximize Your Deduction!

Thinking of donating to charity before the year ends? 🎁 Remember, only donations to qualified organizations are deductible. Keep records of all donations to ensure you get the full benefit on your tax return. Need help? Contact us!

#CharitableGiving #TaxDeductions #YearEndPlanning #SmallBusiness #CPAFirm #IRS #TaxSeason

[BakmanYusupov&Co @BYTaxAdvisory]

🗓️ Get Ready for Year-End Tax Planning!

The end of the year is fast approaching! Now is the perfect time to review your finances and make last-minute moves to reduce your tax burden. Consider charitable contributions, retirement account funding, and expense timing. 🎯 Let’s optimize your tax strategy together!

#YearEndPlanning #TaxStrategy #SmallBusiness #CPAFirm #TaxPlanning #FinanceTips #IRS

[BakmanYusupov&Co @BYTaxAdvisory]

🔔 Reminder: Estimated Tax Payments Due Soon!

Don’t forget! Q3 estimated tax payments are due September 15th. 📅 Avoid penalties by making sure your payments are accurate and on time. Need assistance? Reach out to us for help!

#TaxReminder #EstimatedTaxes #SmallBusiness #IRS #CPAFirm #TaxSeason #FinancialPlanning

[BakmanYusupov&Co @BYTaxAdvisory]

🏠 Home Office Deduction: Are You Eligible?

If you're self-employed and working from home, you might qualify for the home office deduction! 🏡 Understand the criteria to ensure you’re claiming it correctly. Consult with a CPA to maximize your savings!

#HomeOffice #TaxDeductions #SelfEmployed #CPAFirm #IRS #TaxTips #SmallBusiness

[BakmanYusupov&Co @BYTaxAdvisory]

Really respect your views and labor practices as an employer. Can’t tell you how unfortunately rare that it these days.

I do disagree regarding capital gains being taxed the same. I think the optimal is somewhere in the middle.

Perhaps a system that taxes you based on what income you receive the most in. For instance if you are making most of your income from gains then clearly for you it should be treated as if you are “working”. This would subject the wealthy to a more fair standard.

It would also still create the incentive to invest which I think is the economic purpose of having capital gains tax at a preferential rate.

Tax code is about incentives mostly- we should still be creating and promoting investments.

These are difficult positions that will have very massive effects on the economy. The right answer should be somewhere in between.

[BakmanYusupov&Co @BYTaxAdvisory]

🔍 Understanding IRS Tax Audits: Know Your Rights!

Are you worried about a potential IRS audit? Knowing your rights and responsibilities can ease the stress. Always keep accurate records and consult a CPA to navigate the process smoothly. We've got your back! 👍

#TaxAudit #IRS #SmallBusiness #CPAFirm #TaxHelp #AuditPreparation