June 2025 - FREE Yourself from IRS Problems

Shamsey Oloko June 9, 2025 Income Exclusions, Military, Military Pay Exclusion, New York Income Tax, New York Property Tax, New York Sales Tax, Tax Legislation, Tax News, The American Taxpayer Relief Act of 2012, Uncertain Tax Position, Unfiled Tax Returns, Veterans Benefts, Welfare Benefits

Top Ten Tax Breaks for Veterans in New York

At Thorgood Law Firm, we deeply appreciate the sacrifices made by veterans. To honor their service, New York State offers numerous valuable tax breaks and financial benefits. Below, we outline ten important tax-related benefits that veterans should know about. 1.…

Shamsey Oloko June 6, 2025 Audit, Corporate Tax, Income, Income Exclusions, Income Tax, Income Tax Return, New York Income Tax, New York State Tax, Tax Attorneys, Tax Court, Tax Credit, Tax Legislation, Uncategorized

Are Losses From Your Side Gig Deductible?

Yes, if your side gig qualifies as a genuine business (with a profit motive) and meets both federal and New York State rules for deducting losses. That means you must show that your expenses directly relate to an active, profit-seeking…