Iryna Stepanchuk, CPA

1,966 Added | 2 Magazines | 4 Likes | 9 Following | 540 Followers | @irynastepanchuk | Iryna Stepanchuk, CPA offers tax preparation and planning, accounting and consulting services to small and mid-sized domestic and international businesses and individual taxpayers | Read more: stepanchukcpa.com

A solution to the tax reform pass-through problem

Tax reform under any of the proposals thus far released contemplates a significant rate cut for C corporations, and a smaller rate cut for …

Tax Reform

Extending Deadlines for Filing Amended Returns Has Its Limits

Everyone makes mistakes. That’s why pencils have erasers.<p>And that’s why there’s no need for taxpayers to panic if they recheck their 1040 forms after …

Retirement

What to Know About the Bill to Limit State Taxation of Online Sales

Topic • Sales Tax<br>Tags • Deductions <br>• Ecommerce <br>• Tax tips

Government

Inflation-adjusted tax rates predicted for 2018 by Bloomberg BNA and Thomson Reuters

Tax reform notwithstanding, the tax research providers Bloomberg BNA and Thomson Reuters both released their predictions Thursday for the annual …

Retirement

Liberal, conservative lawmakers offer opposing U.S. healthcare ideas

Liberal, conservative lawmakers offer opposing U.S. healthcare ideas<p>WASHINGTON (Reuters) – U.S. senators unveiled two opposing visions of a …

Health Care

Trump administration officials are tempering expectations for a 15% corporate tax rate

Two top Trump administration officials said it may not be possible for President Donald Trump to deliver on his promise to cut corporate tax rates to …

Steven Mnuchin

Why Brand Positioning is Important for Your Firm

Topic • Practice Excellence<br>Tags • Marketing <br>• Practice <br>• Tips & tutorials

Marketing

Mnuchin, Ryan see passage of U.S tax overhaul by end of year - Thomson Reuters Tax & Accounting

Mnuchin, Ryan see passage of U.S tax overhaul by end of year<p>September 8, 2017<p>By Susan Heavey, David Morgan, Doina Chiacu, Jonathan Oatis and Will …

Steven Mnuchin

Taking foreign income into account for taxes

Over the past decade, the U.S. government has become much more interested in the ownership of foreign financial accounts. Concerns about security and …

Retirement

Trump promotes tax overhaul as vital in meeting with GOP leaders

President Donald Trump promoted a tax overhaul as essential to boosting economic growth as he huddled Tuesday at the White House with his advisers …

U.S. Congress

Hurricane Harvey victims have more time to file tax returns and pay tax

As floodwaters continue to rise in Texas, the IRS said it is providing tax relief to Hurricane Harvey victims in 18 Texas counties affected by the …

Hurricane Harvey

Changes and outages coming to IRS e-Services

Changes to its e-Services platform will affect all e-Services users, the IRS announced Wednesday evening, and various services will not be available …

Security

Demystifying a 1031 Exchange

A 1031 Exchange comes from Internal Revenue Code 1031 and it is mostly utilized in the real estate realm, but can also be done with business assets …

Finance

Dependency Exemptions for Live-in Lovers: Part One

As part of the general easing of sexual atti­tudes in most sections of the country, there has been a sharp increase in the number of unmarried …

Claimed

The Importance of Business Research for Your Firm's Growth

Topic • Practice Excellence<br>Tags • Firms <br>• Research <br>• Tips & tutorials

Marketing

Simplified Rules for Claiming Home Office Deductions: Part Two

Topic • Individuals<br>Tags • Deductions <br>• Tax tips

Personal Finance

SEC updates guidance on revenue recognition

The Securities and Exchange Commission has released a staff accounting bulletin to conform its existing staff guidance to the new revenue recognition …

21st Century

IRS wins Tax Court ruling in captive insurance case

The Internal Revenue Service has prevailed in U.S. Tax Court in a case involving an Arizona jewelry store business that received a tax break by …

Insurance

How to Create Monthly Revenue In Four Steps

A big complaint among freelancers, business owners and consultants is the inability to predict monthly revenue. While inconsistent cash flow is …

Payment Systems

Final regs. address premium tax credit issues

The IRS issued final regulations that govern the relief available for victims of domestic abuse or abandonment from the requirement that married …

Personal Finance

Tax Court Corner: Transfer of Assets to Corporation Not a Sale

Let’s say a man and his wife owned a sole proprietorship. They formed a corporation and transferred all of their assets to the corporation.<p>The US Tax …

State corporate tax policies adapt to digital economy

President Trump’s recent tweet about “internet taxes” reignited debate about sales tax liabilities for businesses that sell products online. Internet …

Trump will get his tax cuts, vast majority of economists believe

The pros who make their living forecasting the economy overwhelmingly expect President Donald Trump and his fellow Republicans to push through tax …

How to avoid penalties when a planned rollover goes awry

<i>Editor: Anthony S. Bakale, CPA</i><p>One of the advantages of participating in a retirement plan is that the money in the plan can grow tax deferred until …

Art of Accounting: How to know when it is time to hire someone

Perhaps the most important staffing decision is to know when to hire your first employee. I believe this decision needs to be guided by your goals.<p>If …

The war on tax ID theft continues: CPAs’ role

The IRS reports that its cases of tax-related identity theft and corresponding fraudulent refunds issued have dropped significantly, due in part to …

Identity Theft

Why tax reform is so fiendishly difficult in the U.S.

President Donald Trump has been talking about tax reform for months, but true to form, his administration is moving away from a specific proposal, …

5 Email Hacks That Will Declutter Your Inbox

If your email is overflowing and you're not sure where to begin, try this.<p>Does looking at your mobile email app give you anxiety? Is your inbox overflowing with unread messages, eCards you haven't responded to, and other incomprehensible requests you haven't had the time to touch?<p>If yes, your email …

Productivity

GOP pivots to tax cuts amid frustration at lack of detail

(Bloomberg) Representative Ted Yoho had hoped to spend the August recess in his North Florida district making the case for a tax overhaul. Instead, …

After Health Care Victory, Senate Democrats Seek Compromise on Tax Plan

WASHINGTON — Emboldened by the failure of Republicans to pass health care legislation on their own, Senate Democrats are seizing the opportunity to influence the coming overhaul of the tax code with a call for bipartisanship.<p>But the overture got a frosty reception from Republicans on Tuesday …

U.S. Congress