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After the Move – Part II: New York State’s Income Sourcing Rules for Business Sales

Our Recommended Reading List on Tax Policy

Recent Tax Case Contains Detailed Discussion of Gift Tax Adequate Disclosure Requirements
Calls For U.S. Wealth Tax Again Grow Louder – But Are They Any More Effective?
Beyond College Savings: Using 529 Plans as an Estate Planning Tool

Latest Articles

  • New Jersey Inheritance Tax: Planning Considerations in Light of Repeal and Possible Federal Changes

    By:
    Martin M. Shenkman, Esq., Glenn A. Henkel, Esq., Richard Greenberg, Esq., Alan A. Davidson, Esq. and Andrew Wolfe, Esq.
    |
    Apr 1, 2017
    Only about 18 states have an estate tax. New Jersey recently repealed its estate tax effective Jan. 1, 2018, but it remains one of a handful of states that will still have an inheritance tax: a tax on beneficiaries receiving a bequest. 

  • Statutory Residency in New York: What Qualifies as a Permanent Place of Abode?

    By:
    Jennifer S. White, Esq., and Jason Feingertz, Esq., CPA
    |
    Apr 1, 2017
    It is no surprise that many individuals choose to have a second home in a state as wonderful as New York. While having access to a New York dwelling certainly has its perks, it might also come with the pitfall of subjecting an individual to New York State personal income tax (“Tax”) on worldwide income.

  • Medicaid’s Five-Year Look-Back and the Importance of Advanced Planning

    By:
    Ronald Fatoullah, Esq., Elizabeth Forspan, Esq., Eva Schwechter, JD
    |
    Apr 1, 2017
    Recent studies show that health care costs for the aging population are increasing at staggering rates. According to New York State’s Office of Health Insurance Program, one year in a nursing home can cost an individual upwards of $145,000. 

  • Partnership Examinations After the Bipartisan Budget Act of 2015

    By:
    Dean L. Surkin, JD, LLM
    |
    Mar 1, 2017

    The playing field for partnership examinations changes next year, along with how the IRS collects tax on adjustments to partnership income. The partnership—rather than the partners—will pay the tax in the first instance. 

  • Major New Reporting Requirements for Foreign-Owned Single-Member LLCs

    By:
    Lisa S. Goldman, CPA
    |
    Mar 1, 2017
    The Treasury Department has clamped down on a key reporting exemption that foreign-owned, single-member limited liability companies (LLCs) previously enjoyed, significantly impacting any foreign person or entity with holdings in U.S. single-member LLCs that are disregarded for federal income tax purposes. 

  • U.S. Tax Implications of Working Overseas – What You Need to Know

    By:
    Linda M. Bruckner, CPA
    |
    Mar 1, 2017
    Clients are often surprised when we inform them that although they will be living and working abroad, they must continue to file U.S. income tax returns and report their worldwide income as American citizens. 

  • Energy Incentive Programs: Good for the Earth and the Bottom Line

    By:
    Bruce A. Johnson, MBA, CEM
    |
    Mar 1, 2017
    These days, people talk a lot about “going green.” Companies promote environmentally conscious programs and policies to win new customers, improve public image, and reduce costs. Indeed, energy incentive programs may confer tremendous tax savings. 

  • A Comparison of State Residency Rules

    By:
    Brian Gordon, CPA
    |
    Feb 1, 2017
    All states agree that you are taxed as a resident in the state where you are domiciled, although some exemptions apply for extended absences. They also agree on the definition of “domicile”—which, in simple terms, is your primary residence. States don’t, however, uniformly agree on the factors that determine your domicile. 

  • Doing Business on the Web: State Tax Traps for the Unwary

    By:
    Elizabeth Pascal, JD, Mark Klein, and Joe Endres, JD
    |
    Feb 1, 2017
    It isn’t easy being an online retailer or service provider these days. Businesses have increasing opportunities and economic pressures to expand their market beyond a single state or region—in fact, other than “mom and pop” stores serving a single local community, it’s rare to find any business that isn’t seeking to expand its geographic market. 

  • Planning for the Stars: Estate and Insurance Planning for Entertainers and Professional Athletes

    By:
    K. Eli Akhavan, Esq., and Jonathan I. Shenkman
    |
    Feb 1, 2017

    This article is the second in a two-part series about some of the types of planning for entertainers and professional athletes. To read the first part published in the January 2017 TaxStringer, “Planning for the Stars: Financial & Investment Planning for Entertainers and Professional Athletes,” please click here.
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Tax Cases - Sept. 2023
  
 In Case You Missed It – September 2023 
Tax Jokes
  

Why is pre-tax income nasty? Because it's gross.

https://parade.com/1317763/jessicasager/accounting-jokes/

Tax News


IRS Announces Administrative Transition Period for New Roth Catch Up Requirement; Catch-up Contributions Still Permitted After 2023, Internal Revenue Service

IRS Issues New Warning to Tax Pros About Identity Theft, Internal Revenue Service

Inflation Reduction Act 1-year report card: IRS delivers dramatically improved 2023 filing season service, modernizes technology, pursues high-income individuals evading taxes, Internal Revenue Service

Billionaire Disputes IRS Position on Self-Employment Tax on Limited Partnership Income, Internal Revenue Service

*Outside the Box is a new addition to the TaxStringer featuring important articles on financial and investment management topics by top authors who have expertise both inside and outside the realm of taxation.

 

 

Interested in writing for the TaxStringer? Click here for Submission Guidelines and contact TaxStringer@nysscpa.org.


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Views expressed in articles published in Tax Stringer are the authors' only and are not to be attributed to the publication, its editors, the NYSSCPA or FAE, or their directors, officers, or employees, unless expressly so stated. Articles contain information believed by the authors to be accurate, but the publisher, editors and authors are not engaged in redering legal, accounting or other professional services. If specific professional advice or assistance is required, the services of a competent professional should be sought.