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... Read more »
Lawyers, want to be a Justia Connect Pro too? Learn 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... Read more »
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... Read 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,... Read more »
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... Read more »
Lawyers, want to be a Justia Connect Pro too? Learn 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... Read 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... Read more »
Lawyers, want to be a Justia Connect Pro too? Learn 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... Read 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... Read more »
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Mar 4, 2023
Determining how to split the profit from your Airbnb listing can be a complex issue that may depend on a number of factors, including the financial contributions of each party, the level of effort and involvement required, and any other agreements or arrangements you have in place.
Based on... Read 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... Read more »
answered on Feb 28, 2023
Dear Brooklyn Tenant
Hello. If your apartment is in a building with at least two more apartments, you must be very careful.
First, your lease may prohibit Airbnb. Most leases in NYC will not allow for use of the apartment for short-term rental. Most leases prohibit profiteering... Read 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... Read more »
answered on Feb 28, 2023
Your question raises some questions. Is your BF on the Lease? I am not sure how you obtained a Lease without a SSN, so I am not sure why that matters now. Also, does your landlord, municipality, and building permit short term rentals like AirBnB? Why is he entitled to any "profit."... Read 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... Read 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... Read more »
I have a mortgage on property that includes parcels in two towns in upstate NY. The mortgage servicing was recently transferred to a new company and they paid the taxes on one parcel but failed to pay on the second. The county has taken sealed bids and is scheduled to approve the sale at their... Read more »
answered on Dec 29, 2022
New York Real Property Tax Law (RPTL) Sections 1110 and 1111 allow you a “right of redemption”, which requires you to pay all back taxes and penalties on the property, usually within 2 years of the lien, to stop a lien foreclosure sale.
If the county has already filed a petition to... Read more »
I was wondering about the legality of buying one's own products. I was thinking of buying some discounted gift cards for Etsy/Ebay where I sell products, and using them to buy some of my own products, picking up a little profit and boosting my store activity and seller profile. Are there any... Read more »
answered on Nov 8, 2022
You have to review the Etsy and EBay terms of service you agreed to when opening your sellers account to determine whether this is a violation of any of their policies which could get you suspended. Legally speaking, apart from terms of service, the only issue I could see is if you are presenting... Read more »
I started working 3 years ago in a registered 501c3 (school) in New York. I am a school leader and requested to see a copy of the school bylaws so I could understand as much as possible about how the school works. I was told it was an inappropriate request. I have concerns about board governance... Read more »
answered on Aug 21, 2022
You can almost certainly get a copy directly (and anonymously) from the New York Attorney General's office website. Go to the AG's office's Charities Bureau online. (https://www.charitiesnys.com/home.html) Enter the name of the 501(c)(3) in the "Search Charities Registry"... Read more »
I applied for ssn on April 2021. i wasnt able to apply for stimulus on 2021 because of covid i never received my number? I was told by someone that i still can apply for the check. If so, am i supposed to file for last year's tax return as well?
thank you
answered on Aug 8, 2022
Most eligible people have already received all three of their Economic Impact Payments. However, you may still be able to file your 2020, 2021 taxes and claim a Recovery Rebate Credit. For more information, see https://www.irs.gov/coronavirus/economic-impact-payments.
According to the... Read more »
My husband and I can get gifted $16,000 each and from each parent without triggering any gift tax. The total gifted equity amounts to $100,000. If we can include our son as well then we could have $96,000 untaxed.
answered on May 4, 2022
You are missing a key concept. There is a unified credit. There is no gift tax on any amount in this range. You are mixing lifetime giving with annual giving. If you have no idea what I am talking about, get a good lawyer or accountant for whatever you are doing.
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:... Read 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
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... Read 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... Read 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... Read 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.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
