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State Taxation

  • Medicaid Planning and the Medicaid Asset Protection Trust

    By:
    Pauline Yeung-Ha
    |
    Jun 1, 2019
    Technological advances have increased life expectancy significantly. As the population ages, caring for the elderly has become more prevalent. Rising health care costs is a concern for seniors. Many seniors are house rich, cash poor—their major asset is their home which they seek to protect against unexpected long-term care costs.

  • Utilizing Trusts for the Benefit of Those Suffering with Addictions

    By:
    Anthony J. Enea, Esq.
    |
    Jun 1, 2019

    Earlier this year Customs and Border Protection officers in Nogales, Arizona seized 254 pounds of fentanyl that was hidden in the floor compartment of a truck transporting cucumbers. Fentanyl is a deadly opioid (in powder form) that is often masked and /or mixed with heroin. It is responsible for thousands of deaths in the United States. A quarter milligram of the drug (the equivalent of several grains of rice) has the potential to kill a person quickly.

  • NYS Residency Case: Was His Weekend Home His Domicile?

    By:
    Brian Gordon, CPA
    |
    May 1, 2019

    This is an analysis of a case involving petitioner Thomas McManus, which was decided by Winifred M. Maloney, Administrative Law Judge (ALJ) on February 7, 2019. See McManus Case. Petitioner represented himself at the hearing. This is a residency case involving the issue of domicile for the year 2009.  

  • A Roller Coaster That Requires Your Immediate Attention: New York Does Decouple from Certain Federal Income Tax Changes for Trusts and Estates

    By:
    Sharon L. Klein
    |
    May 1, 2019

    On December 28, 2018, the Department of Taxation and Finance (the Department) issued Technical Memorandum TSB-M-18(6)I – New York State Decouples from Certain Personal Income Tax Internal Revenue Code (IRC) Changes for 2018 and after.

  • New York State Sales Tax Audits

    By:
    Alfred T. Grillo, CPA
    |
    Mar 1, 2019
    Every New York business should be concerned about a potential sales tax audit. The result could be expensive and time consuming, and could also expose the owners of the business to personal financial responsibility. This article will discuss some of the various ways businesses can be selected for audit, and the areas where auditors are likely to focus. Knowing these factors may assist CPAs in limiting audits and liability for their clients.

  • New Jersey Tax Update

    By:
    Chaim Kofinas, CPA
    |
    Mar 1, 2019

    On July 2, 2018, the New Jersey Legislature passed—and Governor Phil Murphy signed—his first budget. This budget was designed to move New Jersey in a new direction as envisioned by the new Governor. The budget bill contains tax increases, tax breaks, and a host of other provisions.

  • Practical Sales Tax Considerations for Vendors in the Wake of Wayfair (Part II)

    By:
    Mark Klein, JD and Joe Endres, JD
    |
    Feb 1, 2019
    In last month’s installment, we provided a brief review of the U.S. Supreme Court case South Dakota v. Wayfair, and included a state-by-state review of the new laws and rules governing sales tax administration that the case has engendered. News in this area is exploding on almost a daily basis.  
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