The New York State Department of Taxation and Finance (NYSDTF) has the ability to conduct audits of businesses in many situations to ensure that they have paid the full amount of taxes. One common form of audit scrutinizes whether businesses…
Certain federal taxes are deposited into a trust fund once they are collected, including: Federal income taxes Social Security taxes Medicare taxes Businesses must withhold these taxes from an employee’s paycheck and send them to the IRS. The timing of…
New York City is once again considering a major shift in how it taxes high-value real estate—specifically, luxury second homes owned by non-residents. The proposal, commonly referred to as a “pied-à-terre tax,” would impose an additional annual surcharge on certain…