Articles

by: Michael Barg, Tax Supervisor E-commerce sites hold tremendous growth potential for small and mid-size businesses. Partnering with online marketplaces and facilitators can expand customer reach in ways traditional sales channels often can’t match. These new opportunities come with new challenges. In practical terms, an established New York-based business may sell products regionally and have nexus…

Industry 4.0 is shorthand for all the technological innovations fundamentally altering the manufacturing sector — including smart factories, the Internet of Things, cloud and hybrid computing, and augmented reality. Mobile devices are the gateway to Industry 4.0. Manufacturing managers still working with decade-old computers — or pencil and paper — will likely be left in…

Contrary to popular belief, no federal law prohibits multiple states from collecting tax on the same income. This article raises some important points to keep in mind for those who maintain residences in more than one state (or may soon do so). We’ll also look at some ways an individual can establish domicile in a…

as published in Trust and estate issues are always complex. While fiduciary and individual income tax matters in the past have generally been dissimilar, the new tax law compounds the differences. In contrast to individuals, trusts and estates can still claim certain deductions between now and 2025 that will save…

When the Tax Cuts and Jobs Act was enacted in 2017, it was largely heralded as a good move for real estate owners and developers across New York state. However, two new provisions within the law have created unusual dynamics for this group – with one change that may not be pegged as so positive.…

The free use of a company car is one of the best perks an employee may receive as part of a compensation package. But the benefit to the employee isn’t completely “free” under current tax law. Essentially, personal use of a company car is treated as a taxable noncash fringe benefit, subject to income tax…

Are you planning to make substantial renovations to your home? You may be adding a deck or patio, finishing a basement or attic or installing a pool. Despite some changes in the Tax Cuts and Jobs Act (TCJA) that may discourage homeowners, you can still realize generous tax benefits for home improvements. Here are three…

Warm weather and rainy days bring the urge to purge. But before you clean your file cabinets or declutter your computer files, it’s important to review these guidelines.

Let’s say a person is planning to take a plane trip out of the country. And further suppose that individual owes the federal government a fair amount of back taxes. The person may not be able get a passport if he or she owes the government a significant amount of back taxes. The IRS is…

as published in Financing is the lifeline of all real estate investments and leverage allows development to continue without putting one’s own capital further at risk. The new Tax Cuts and Jobs Act places some limitations on the deduction of business interest, however, which could put a kink…