George Dimov, CPA

Don't let tax deadlines sneak up on you! Here are the crucial dates for 2025 quarterly tax payments. ?? ??Pro tip: Estimate your income, subtract deductions, and use Form 1040-ES to calculate your payments. Need help navigating your tax obligations? We're here to assist! ??? ?? www.dimovtax.com ??(833) 829-1120 toll free

If you're active in the crypto world, understanding when and how to pay taxes is crucial. Here's a breakdown of what you need to know. ?? Need help understanding your crypto taxes or making quarterly payments? Contact our team today! ?? www.dimovtax.com ??(833) 829-1120 toll free #CryptoTax #TaxPlanning #IRSDeadlines #TaxSavings #TaxPlanning #TaxSpecialist #FinancialTips

If you're active in the crypto world, understanding when and how to pay taxes is crucial. Here's a breakdown of what you need to know. ?? Need help understanding your crypto taxes or making quarterly payments? Contact our team today! ?? www.dimovtax.com ??(833) 829-1120 toll free #CryptoTax #TaxPlanning #IRSDeadlines #TaxSavings #TaxPlanning #TaxSpecialist #FinancialTips

Tax credits are one of the best ways to reduce your tax bill because they offer dollar-for-dollar savings. But with so many credits out there, it’s easy to overlook the ones you qualify for. Here are three common tax credits you should know about: 1. Earned Income Tax Credit (EITC) ??: Designed to help low-to-moderate income workers, the EITC can reduce the amount of tax you owe—and may even give you a refund. The amount you qualify for depends on your income and family size. 2. Child Tax Credit (CTC) ??: If you have children under 18, you could claim up to $2,000 per child, and in some cases, you may be eligible for a partial refund even if you don’t owe any taxes! 3. Lifetime Learning Credit (LLC) ??: Planning to take some college courses or improve your job skills? You can claim up to $2,000 each year to cover tuition and other education expenses. Remember: tax credits directly lower the amount of taxes you owe, which makes them even more valuable than deductions.? Need help claiming the right credits? Contact us today to schedule a consultation and see how we can help you get the most out of your tax return! ?? www.dimovtax.com ??(833) 829-1120 toll free #TaxCredits #EarnedIncomeCredit #ChildTaxCredit #EducationTaxCredit #TaxSavings #TaxPlanning #TaxSpecialist #FinancialTips

Many people miss out on potential deductions that could make a big difference come tax season! Don’t let that be you—check out our carousel post to discover key deductions you may qualify for. ???? ? Pro Tip: Keeping organized records year-round makes it so much easier to claim deductions and boost your savings. ???? Curious about other ways to reduce your tax bill? Let’s chat! ?? ?? www.dimovtax.com ??(833) 829-1120 toll free

Hi everyone ??, Each holiday season, the US Post Office delivers all kinds of joy and happiness to children all over the world. At the same time, they also deliver hundreds of thousands of IRS letters with the intention of destroying whatever joy and happiness you’ve been able to retain as an adult. At Dimov Tax, our joy lies in resolving IRS letter issues for our clients. If you receive a letter from the IRS (or any state), simply scan it over & send it to us. We’ll help you make sense of the letter. We’ll let you know if you can fight it, and what your chances are of winning the case. We can even file a “power of attorney” and handle the entire case on your behalf. Most IRS letters don’t require a law firm unless you are going to court – Dimov Tax accountants specializing in resolution can address 99% of IRS or state letters. Have you received an IRS letter? Simply contact us! ?? www.dimovtax.com ??(833) 829-1120 toll free

Great CPAs are hard to come by, which is why we’ve been offering consultations by retainer only for the last few years. This approach has allowed us to stay focused on delivering the best for our loyal clients. BUT… this month, with deadlines almost behind us, I’m opening up a limited number of informal meet & greet calls! ?? If you’ve got tax or accounting needs and want to chat to see if we’re the right fit, let’s connect! This is NOT for specific advice, but to evaluate if we’re a great match for your professional needs. ?? Interested? Drop a comment or DM and we’ll schedule a call. Looking forward to hearing from you! ?? www.dimovtax.com ??(833) 829-1120 toll free

Hi everyone! ?? One of the most common things our clients ask us is “What can I be doing to save the most money on my taxes?” The answer is different depending on your situation, but there are some things you can do to max out your deductions and hang on to more of your hard earned cash. The other thing we noticed is that 66% of taxpayers that AREN’T Dimov Tax clients ?? are not maximizing their deductions – lots of people are leaving money on the table. There are only 56 days left this year, which means if you don’t take advantage of all your deductions, then you’re going to end up paying more than you should. Many of these strategies take a few weeks to implement, and if we don’t work on them now, you’ll miss out. Not sure if this applies to you? Contact us today! ???www.dimovtax.com ??(833) 829-1120 toll free

???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 treaties, a portion of the scholarship might be taxable. Reporting: File Form?1042-S?to report payments and?Form 1042?to remit taxes to the IRS. Check Tax Treaties: Some students may benefit from reduced withholding rates! ???Pro Tip: Make sure you’re compliant and avoid penalties by understanding the taxable nature of the scholarship. Need help? We're here to guide you through the process! ???www.dimovtax.com ??(833) 829-1120 toll free

???Tax Breakdown: ??Short-Term Capital Gains: Dropped from?12% to 8.5%?– applies to assets held for less than a year. ??Long-Term Capital Gains: Remain taxed at?5%?– hold your investments for over 1 year for a lower rate. ??Millionaire Surtax: If your annual income exceeds $1M, there’s an additional?4% surtax. ???Maximize Your Gains, Minimize Your Tax: ??Hold Investments Longer: Pay less by keeping assets for over a year. ??Tax-Loss Harvesting: Offset gains by selling underperforming assets to reduce your taxable income. ??Use Tax-Advantaged Accounts: IRAs and 401(k)s can help defer taxes on investment growth. ????Plan Ahead: With tax season around the corner, strategize to keep more of your investment returns. ???www.dimovtax.com ??(833) 829-1120 toll free