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I do have an office out of which I conduct business, but again: I do not ever provide anything tangible. (Not even a single piece of tangible paper goes from my hand to the client's hand.) Also, I use online software (purchased online only) to create the websites for clients. If it matters: I... View More
answered on Sep 14, 2023
In New York, if you provide online-only web design services and do not sell tangible goods, you are generally not required to charge sales tax to your clients. However, it's crucial to periodically review state and local tax laws, as regulations can change, and certain exemptions or... View More
answered on Aug 21, 2023
In New York, a trust can own a corporation through strategies such as creating a holding company or a subsidiary structure. In a holding company approach, the trust establishes a corporation that owns shares of another corporation (LLC or S corp). Alternatively, a subsidiary structure involves the... View More
I started working for this place half a year ago and I was being paid while on a payroll but then my payments Started coming in late and then my employer talked to me and want discussed on switching me to a 1099 and even thought I am 30 I have no clue into what all this means so I agreed but now... View More
answered on Jul 31, 2023
Employers often misclassify workers as independent contractors in order to avoid compliance with labor laws, including minimum wage, and overtime laws. It is much cheaper for employers to classify their employees as independent contractors. When your employer changes your status from employee to... View More
New hire does not have US citizenship but has had SS number since graduate school and has paid taxes while working in NY but will now be working outside of NY, USA; that is Jamaica.
answered on Jul 6, 2023
When hiring a non-resident who is moving back to their home country (in this case, Jamaica) and will be working outside the USA, it is important to consult with an employment attorney or tax advisor to understand the specific legal and tax requirements. Worker's compensation, FICA, and other... View More
answered on Jul 6, 2023
You can request an official, certified transcript of your return from the IRS.
Can I reimburse myself prior to filing his estate taxes?
answered on Jun 8, 2023
You can reimburse yourself as you go, but the disbursements are not approved and subject to clawback until you have a final accounting approved, or waivers from all parties. Your lawyer should know this. If you do not have one, and money is tight, it might be a good idea to have a lawyer.
If you planned to work for doordash and food delivery gigs in ny as an llc . What's better in terms of protection ?
1- To open an llc in an other state like Wyoming , do you need to regester it as a forirgn llc in ny and every other state you work as a dasher ?
2- if you... View More
answered on Jun 6, 2023
Really depends from what you are seeking protection, e.g. personal injury liability, taxes, business debts, etc. Although an LLC will protect you from your business obligations, the mere existence of an LLC will not shield you from all personal liability in the event you injure someone in the... View More
should i get documentation before he passes and how would that impact me in terms of taxes
answered on May 18, 2023
Your brother may direct the disposition of his property in any manner he decides upon in his Will. In the event that your brother passes without a Will, if he is a New York resident his property would pass according to applicable law which the following link summarizes:... View More
Our assessments went up a minimum of $40,000 per property!!!! Our county is one of the poorest in the state and none of us have improved our property. The law used to be the assessers could not raise the assessment more than $10,000 in one year. I can't find that law now. Can you give me the... View More
answered on May 7, 2023
In New York State, the rules for property assessments are governed by the Real Property Tax Law (RPTL). According to RPTL Section 305, property assessments must be based on their market value, and should be made at least once every four years.
Regarding the increase in assessments, RPTL... View More
Do I need to report this gift to the IRS and/or pay taxes on it? My mother is not a US citizen nor a resident here.
Thank you
answered on Apr 16, 2023
There’s no simple answer to this question. There are specialist attorneys who handle these sorts of situations. Not reporting correctly can result in very large liabilities.
answered on Apr 16, 2023
See here: https://www.irs.gov/retirement-plans/traditional-and-roth-iras.
Be aware that your deadline for contributions for the 2022 tax year is this Tuesday, April 18, 2023, so you need to make arrangements before then if you are looking to benefit for your 2022 taxes. If you have already... View More
answered on Apr 16, 2023
It really depends on all the facts. There are lifetime gift limits, rules on reporting settlements to Medicare, Medicaid and the Social Security administration, and many more situations that can only be evaluated on a case by case basis.
It so old I no longer have the records. This is the first we’ve heard of this. Thanks
answered on Mar 27, 2023
New York State generally has a 3 year SOL to assert additional tax due on a filed return. But note the key word here: additional. If New York is just restarting collections without imposing additional tax liability on your previously filed returns the result might be different. Consider consulting... View More
The estate I represent is winning a wrongful death award. My sister passed in an accident. Can the award be divided by the judge to benefit 3 people, (my mother, other sister and I) ? The interest of this would be that the award would not be taxable for anyone.
Thank you,
Claudia
answered on Mar 27, 2023
So sorry for your loss. Under New York's Estates Powers & Trust Law § 4-1.1, if your sister passed away without any children, the entirety of the recovery would go to your mother. Of course, you can certainly petition the court to divide the settlement proceeds equally among yourself,... View More
You and your siblings must appear for the signing of the sales deed, either in person or by virtue of a power of attorney, to subscribe the sale. For each of you who resides outside Puerto Rico, our Tax Code requires that a 15% retention be made at the point of origin (which would be upon the... View More
answered on Mar 13, 2023
That is a requirement of the tax law in that location. https://www.discoverpuertorico.com/industry/download/588201-discover-puerto-rico-form-480-2017.pdf
I had an S corp in queens NY and there was a judgement against the company from the dept of labor for unemployment insurance during years the company was not in operation. The judgement is in the sum of $3700, can they come after me personally? Also there is another judgement against the company i... View More
answered on Mar 12, 2023
You definitely have personal liability for both judgments if they pursue you. I am not sure if the judgment is in your name or not. If not, there would need to be a new suit to make you responsible, but you would lose the suit.
Hi, I'm starting a nonprofit organization in Canada to do online arts programming with young people who stutter in Canada and in the US. The organization will operate entirely online and from Canada, but will hire US employees. My goal is to be fiscally sponsored by a nonprofit (Fractured... View More
answered on Mar 19, 2023
As a Canadian nonprofit organization that receives an EIN in the US and hires US employees, you may have US tax obligations. However, whether or not you need to pay US taxes will depend on a number of factors, including the nature and extent of your activities in the US and the terms of any... View More
I changed status in 2022 from non-resident to resident (being on H1b now). But did not update that status before 31st of December 2022 so these platforms (Robinhood/TDAmeritrade/Interactive brokers) refuse to change my status and send me the 1099 form I need to file to the IRS and instead want to... View More
answered on Mar 4, 2023
If you changed your tax status from non-resident to resident in 2022, you should file your tax return as a resident for the entire year, regardless of whether you updated your status with your investment platforms by December 31st.
Investment platforms like Robinhood, TDAmeritrade, and... View More
I got the apartment(lease) by my self and lived there for a year by myself, I put down deposit, I paid a guarantor fee every month, decorated and bought all the furniture, I am doing all the daily maintenance of the Airbnb account and finding cleaner, photograper etc. My boyfriend moved in a year... View More
answered on Feb 28, 2023
From a practical perspective (which is what it sounds like you are asking), an appropriate way to split income from the unit would be to first deduct all expenses and then to split the net income according to proportions of rent paid.
So first you would deduct all of the fees and costs... View More
I know of Canadian who is in the US on TN status, but she stopped working at the job that is tied to her visa. Instead she works illegally in multiple states as a prostitute. She publishes her services on websites for call girls, erotic reviews, etc.. She is even planning to fake a marriage so she... View More
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