Armen G. Derderian, CPA

Armen G. Derderian, CPA Our firm provides great service to our clients because of our dedication to the 3 underlying principles of professionalism, responsiveness and quality.

Final regulations released by the IRS stipulate that partnerships no longer need to provide detailed gain and loss infor...
06/26/2026

Final regulations released by the IRS stipulate that partnerships no longer need to provide detailed gain and loss information to selling partners by January 31. This deadline had become a contentious issue. The tax code requires that any portion of a partnership’s sale proceeds attributable to the partner’s share of unrealized receivables and inventory items be reported as ordinary income. Other sale proceeds are generally taxed as capital gains. But partnerships complained that the reporting deadline was hard to meet. Now, partnerships can provide such information to partners according to their natural end-of-year tax compliance cycle, on or with Schedule K-1. Contact us at (978) 794-9200 to discuss this and other tax filing requirements for partnerships.

Your business taxes deserve the same level of care and precision that you put into running your company. From tracking d...
06/26/2026

Your business taxes deserve the same level of care and precision that you put into running your company. From tracking deductions to ensuring full compliance, I handle the details so you can focus on doing what you love.

Don’t hesitate to reach out to me with any tax needs this summer. I'm here to leverage my expertise for your benefit.

Trying to catch up? Employees age 50 and older are allowed to make extra, “catch-up” contributions to their 401(k) and s...
06/24/2026

Trying to catch up? Employees age 50 and older are allowed to make extra, “catch-up” contributions to their 401(k) and similar plans. In 2026, you can generally contribute an additional $8,000, for an annual maximum of $32,500. And, if you turn age 60, 61, 62 or 63 this year, you can contribute up to $35,750! However, there’s a catch. Recent tax law changes require certain high earners to invest catch-up contributions in a post-tax Roth account, such as a Roth 401(k). This may require additional planning. Call us at (978) 794-9200 to discuss how to reach your retirement savings goals.

Your financial life is more interconnected than you may realize. Your tax, retirement and estate planning should work to...
06/23/2026

Your financial life is more interconnected than you may realize. Your tax, retirement and estate planning should work together to support your goals today and protect your legacy tomorrow. We can help you bring it all together with a coordinated strategy to reduce taxes, build retirement savings and achieve your estate planning objectives. Contact us at (978) 794-9200.

Has administrative complexity discouraged your business from offering a 401(k) plan? Take a look at the safe harbor 401(...
06/22/2026

Has administrative complexity discouraged your business from offering a 401(k) plan? Take a look at the safe harbor 401(k). The employer contribution obligation generally exempts the plan from nondiscrimination testing and other onerous administrative duties. Plus, this plan enables highly compensated employees to max out their contributions and can help attract and retain workers. Typically, employees are eligible to participate if they're age 21 or older and have at least one year of service. Call us (978) 794-9200 for details.

Here’s the scoop: It’s time to celebrate Father's Day! I wanted to shout out all of the dads, grandfathers, and father ...
06/21/2026

Here’s the scoop: It’s time to celebrate Father's Day!

I wanted to shout out all of the dads, grandfathers, and father figures who make our lives special. I hope that this Father’s Day is filled with quality time, well-deserved rest, and maybe even a couple of dad jokes.

A summer job is a great way for teens to earn extra cash, but it also comes with tax responsibilities. Anyone with self-...
06/19/2026

A summer job is a great way for teens to earn extra cash, but it also comes with tax responsibilities. Anyone with self-employed income over $400, such as earnings from mowing lawns or babysitting, must file an income tax return and may owe self-employment tax. If a teen works for an employer that withholds payroll taxes, the filing threshold is higher: $16,100 for 2026. In this case, the teen usually won’t owe income tax and may receive a refund if taxes were withheld. Call us at (978) 794-9200 with questions.

If the IRS audits your income tax return, you may need to produce documentation. In general, the IRS has three years to ...
06/17/2026

If the IRS audits your income tax return, you may need to produce documentation. In general, the IRS has three years to assess additional tax, starting from the date the return was filed or due, whichever is later. For example, if you filed your 2022 return by the April 18 deadline in 2023, the IRS generally has until April 18, 2026, to assess a tax deficiency. So you potentially can discard records related to that return after April 2026. But records should be held longer in certain situations. And you should keep copies of your returns forever. Call us at (978) 794-9200 with questions.

I hope your summer is going well! I wanted to check in briefly to let you know that if you have tax questions, want to r...
06/16/2026

I hope your summer is going well!

I wanted to check in briefly to let you know that if you have tax questions, want to review your financials, or have another need I can assist with, I'm here to help.

Don’t hesitate to give me a call if you need anything.

Does your business use independent contractors? The reporting requirements for these workers differ from those for W-2 e...
06/16/2026

Does your business use independent contractors? The reporting requirements for these workers differ from those for W-2 employees. For payments made in 2026, businesses generally must issue Form 1099-NEC, “Nonemployee Compensation,” to contractors paid $2,000 or more (up from $600 for 2025). The higher threshold may reduce your administrative burden because you could have fewer forms to file with the IRS. However, it doesn’t change your recordkeeping, worker classification or backup withholding responsibilities. Contact us at (978) 794-9200 to help ensure you’re prepared for the updated reporting requirements.

Address

18 Haymeadow Road
Methuen, MA
01844

Opening Hours

Monday 7am - 6pm
Tuesday 7am - 6pm
Wednesday 7am - 6pm
Thursday 7am - 6pm
Friday 7am - 6pm

Telephone

(978) 794-9200

Website

Alerts

Be the first to know and let us send you an email when Armen G. Derderian, CPA posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Armen G. Derderian, CPA:

Shortcuts

Share

Category