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Are Cryptocurrencies Subject to Tax and Wash Sale Rules?
January 05, 2023 |
Article

As the end of the year approaches, taxpayers look at their portfolio of investments and attempt to understand the applicable tax rules. One of the most researched topics is taxation of cryptocurrencies — virtual currencies that act a medium of exchange and can either increase or decrease in value. ...

Everything You Need to Know About This Year’s 1099 Filing Season
January 05, 2023 |
Article

The time has come to check all the boxes and get your company ready for a quick and smooth filing as Form 1099 filing season approaches in January.

New York City’s Proposed Secure Jobs Act May Drive Businesses Out of The City
January 05, 2023 |
Article

New York is a long-established “at-will” state, where employment can be terminated at any time without notice, for any reason or no reason at all, as long as the action is not discriminatory or illegal. To prevent employers from terminating employees without a fair reason, the New York City ...

Schedule K-2/K-3 Domestic Filing Exception
December 07, 2022 |

The IRS introduced Schedule K-2 and K-3 with the 2021 tax filing year. The forms were designed to provide more information to taxpayers about reporting foreign activities and more specifically to provide the taxpayer with more detailed information to correctly calculate and report their foreign tax ...
Is Paying Passthrough Entity Tax a Smart Move for My Business?
December 02, 2022 |
Tax News ,

Much to the dismay of taxpayers in high-tax states, 2017’s Tax Cuts and Jobs Act created a $10,000 cap on an individual’s itemized state and local tax (SALT) deductions. In response to this limitation, 27 states, including California, New York, New Jersey, and Connecticut, have implemented ...

When Do I Have to Pay New York City’s Business Corporation Tax?
November 30, 2022 |

When Do I Have to Pay New York City’s Business Corporation Tax? New Economic Nexus Introduced in 2022 Affects Corporations with Property, Payroll or Sales in the City.
How Do I Choose the Right Legal Entity for My Startup Business?
November 15, 2022 |

If you’re starting a new business, one of your earliest, and most important considerations is picking the legal entity that best suits your endeavor. There are a handful of options available, each of which comes with distinct compliance requirements, tax considerations, and overall levels of ...
Convenience of the Employer Rules
November 08, 2022 |

Why New York’s Convenience of the Employer Rule May Put a Damper on Your Plan to Work Remotely, and Avoid New York State Income Tax
Carried Interest Taxed as Ordinary Income
November 05, 2022 |

Which Tax Changes in the Federal Government’s 2023 Budget Could Impact Private Equity and Alternative Asset Management Funds?
Can New York City Partnerships or Resident S Corporations Elect to Pay Pass Through Entity Tax in 2022?
November 02, 2022 |
Article ,

Can New York City Partnerships or Resident S Corporations Elect to Pay Pass Through Entity Tax in 2022?

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