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New York Tax Law Questions & Answers
2 Answers | Asked in Estate Planning, Tax Law and Wrongful Death for New York on
Q: Can a wrongful death award arriving into sister's estate be divided in 3 (mother and 2 sisters)?

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

Jonathan R. Ratchik
Jonathan R. Ratchik
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

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1 Answer | Asked in Tax Law and International Law for New York on
Q: Does a Canadian nonprofit that receives an EIN in the US need to pay US taxes if serving US persons virtually?

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

James L. Arrasmith
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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

1 Answer | Asked in Tax Law for New York on
Q: Robinhood/TDAmeritrade/Interactive brokers can't change tax status 2022

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

James L. Arrasmith
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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...
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4 Answers | Asked in Contracts, Real Estate Law, Tax Law and Business Formation for New York on
Q: Hi, I've put my apartment on Airbnb and curious how I should split the profit with my boyfriend.

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

Steven Warren Smollens
Steven Warren Smollens
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...
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4 Answers | Asked in Contracts, Real Estate Law, Tax Law and Business Formation for New York on
Q: Hi, I've put my apartment on Airbnb and curious how I should split the profit with my boyfriend.

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

Carl Nelson
Carl Nelson
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...
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4 Answers | Asked in Contracts, Real Estate Law, Tax Law and Business Formation for New York on
Q: Hi, I've put my apartment on Airbnb and curious how I should split the profit with my boyfriend.

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

James L. Arrasmith
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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...
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4 Answers | Asked in Contracts, Real Estate Law, Tax Law and Business Formation for New York on
Q: Hi, I've put my apartment on Airbnb and curious how I should split the profit with my boyfriend.

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

Peter Klose
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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."... View More

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1 Answer | Asked in Real Estate Law and Tax Law for New York on
Q: The county took possession of my 40-acre parcel for non-payment of property taxes that my mortgage co. failed to pay.

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... View More

Daniel Michael Luisi
Daniel Michael Luisi
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...
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1 Answer | Asked in Tax Law and Business Law for New York on
Q: Legality of buying one's own products?

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... View More

Daniel Michael Luisi
Daniel Michael Luisi
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... View More

2 Answers | Asked in Consumer Law, Identity Theft, Tax Law and Family Law for New York on
Q: How do I get protection before the relationship gets bad all the things I am experiencing who do I start with

Just need to get safe with the things we developed throughout business and our personal day life like bills etc

Tim Akpinar
Tim Akpinar
answered on Mar 4, 2024

There might be more here than can be sorted out in a brief Q & A response. These could include the nature of the business entity, its structure, your agreements, your contributions to business, etc. One option could include sitting down with an attorney and discussing in confidence what... View More

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1 Answer | Asked in Employment Law, Immigration Law, Tax Law and Business Law for New York on
Q: I am hiring a non-resident who is moving out of USA back to her country. Should I be paying NY worker comp, FICA, etc?

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.

James L. Arrasmith
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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

1 Answer | Asked in Tax Law for New York on
Q: I still haven’t gotten my tax return from 2021. I called the IRS and they said a random bank has it,what are my options?
Daniel Michael Luisi
Daniel Michael Luisi
answered on Jul 6, 2023

You can request an official, certified transcript of your return from the IRS.

1 Answer | Asked in Estate Planning, Family Law, Tax Law and Probate for New York on
Q: I am my father's estate administrator. How and when can I be reimbursed for admin costs?

Can I reimburse myself prior to filing his estate taxes?

Michael David Siegel
Michael David Siegel
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.

3 Answers | Asked in Real Estate Law and Tax Law for New York on
Q: my brother owns a home, i am his only sister and relative does it automatically pass to me upon his passing

should i get documentation before he passes and how would that impact me in terms of taxes

Elaine Shay
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Elaine Shay
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

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1 Answer | Asked in Tax Law for New York on
Q: My mother received a wrongful death award (one of my sisters passed in an accident) and she wishes to gift me $100,000.

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

Daniel Michael Luisi
Daniel Michael Luisi
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.

1 Answer | Asked in Tax Law for New York on
Q: my mom received a legal award and wants to gift me 100,000. Will this gift be taxable and do i need to report it ?
Daniel Michael Luisi
Daniel Michael Luisi
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.

1 Answer | Asked in Tax Law for New York on
Q: We are getting income tax bills from New York from 2005-10. What is the statute of limitations?

It so old I no longer have the records. This is the first we’ve heard of this. Thanks

Daniel Michael Luisi
Daniel Michael Luisi
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

1 Answer | Asked in Estate Planning, Real Estate Law and Tax Law for New York on
Q: What is the purpose of the 15% retention (Hacienda) & what happens with it? Would I get that back?

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

Steven Warren Smollens
Steven Warren Smollens
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

1 Answer | Asked in Employment Law, Tax Law, Business Law and Collections for New York on
Q: can the dept of labor come after me personally for judgement against non operational s corp in NYC?

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

Michael David Siegel
Michael David Siegel
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.

1 Answer | Asked in Criminal Law, Immigration Law and Tax Law for New York on
Q: How to report a foreigner in the US working illegally as a prostitute?

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

Marco Caviglia
Marco Caviglia
answered on Feb 14, 2023

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