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,…
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…
Divorce can be challenging for many reasons, but one major concern is figuring out who pays the taxes when a marriage ends. In New York, the rules can be confusing, especially if you and your spouse filed joint tax returns…