In some cases, not filing tax returns can lead to serious consequences—including the possibility of jail time. How likely is it that you’ll actually be sent to prison just for failing to file? This depends on your situation and, largely,…
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.…
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…