For many taxpayers and business owners, the end of a New York State tax audit feels like the finish line. Unfortunately, it often is not. After weeks—or even years—of responding to document requests, answering auditor questions, and negotiating findings, many…
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…