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…
Many taxpayers feel uneasy when they open a letter from the IRS and see that they owe penalties. The good news is that the IRS offers opportunities to remove or reduce penalties in certain cases. If you have received a…
Receiving a letter from the IRS can feel stressful. You may wonder what the notice means and what you should do next. Sometimes, the notice is about a missing form or an amount the IRS believes you owe. Other times,…
At Thorgood Law Firm in New York, we are IRS attorneys dedicated to bringing legal counsel to taxpayers across the United States.
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