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News

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2024 New York Tax Update – Year in Review

Our Recommended Reading List on Tax Policy

State Tax Considerations When Selling a Partnership Interest

Can a Home Subject to a Mortgage Be Transferred to a Trust?
SCOTUS Exposes All Regulations to Court Scrutiny in Loper Bright

Latest Articles

  • France: Changes to the Tax Collection System and Other Current Tax Developments

    By:
    Michael Jaffe, Christophe Flaicher, and Bertrand Hermant
    |
    May 1, 2017
    A long-awaited change to the French tax system is scheduled to go into effect throughout the next two years: the implementation of a current year “pay-as-you-earn” (PAYE) system. France has aspired to change the system since World War II, and it would be the last member of the Organisation for Economic Cooperation and Development (OECD) to implement the change. 

  • Asset Management Companies May Have Unknown State Tax Liabilities

    By:
    Brian Rebhun
    |
    May 1, 2017

    States continue to embrace economic nexus standards and impose various sales factor market sourcing methods. Asset management companies should reexamine their income streams to confirm they are properly filing state income and gross receipts-based tax returns and remitting associated state taxes.  

  • Qualified Retirement Plan Design for Closely Held Businesses

    By:
    Andrew E. Roth, Esq., JD, LLM
    |
    May 1, 2017

    The primary goal of most employers in establishing any type of retirement savings program is to provide retirement income in a tax-efficient manner. The best way to achieve this is through a qualified retirement plan.

  • Meeting a Nonprofit’s Fiduciary Obligation in Today’s Challenging Environment

    By:
    Anne Bucciarelli, CFA
    |
    May 1, 2017
    The environment today is challenging for nonprofits. Many organizations are feeling the twin pressures of ensuring consistent distributions while simultaneously maintaining and growing their endowment, often through fund-raising. 

  • 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 New Jersey recently repealed its estate tax effective Jan. 1, 2018, but it remains one of a handful of states that will still have an inheritance tax: a tax on beneficiaries receiving a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. 
Page
Tax Jokes
  

If I needed to hire an accountant in Transylvania, who would you recommend? Count Dracula, of course.
 
https://parade.com/1317763/jessicasager/accounting-jokes/

Tax News

 

2025 Tax Filing Season Starts as IRS Begins Accepting Tax Returns Today; Taxpayers Have Many Options for Help, Internal Revenue Service

IRS, CASST Announce 2025 Filing Season Changes Aimed at Preventing Spread of Scams, Schemes; New Fuel Tax Credit Statement and Increased Review of “Other Withholding” Claims Among Highlights, Internal Revenue Service

Governor Hochul's Tax Plans Aim to Ease Costs for New Yorkers in 2025, The Trusted Professional


SALT Talks Gain Steam with Trump's blessing on Tax Break, Arizent


Will the New Partnership Related Party Basis-Shifting Rules Survive?, Thomson Reuters/Tax & Accounting


IRS Faces Hiring Freeze and Revoked Job Offers as Tax Season Begins, The Trusted Professional

Treasury, IRS Issue Proposed Regulations on New Automatic Enrollment Requirement for 401(K) and 403(B) Plans, Internal Revenue Service

Treasury Official on Int’l Tax ‘Simplification’ Efforts, Thomson Reuters/Tax & Accounting


Conference Speakers Discuss How to Navigate the Changing Landscape of Exempt Organizations Taxation, The Trusted Professional


IRS Targets Tax Loopholes in Partnership Transactions with New Rules, The Trusted Professional

Taxpayer Advocate Gives IRS a Mixed Review in 2024 Annual Report, The Trusted Professional

*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.

 

 

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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.