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…
Owning digital assets such as cryptocurrencies, NFTs, and stablecoins can feel exciting and full of possibilities. Yet, recent changes in IRS guidance may affect the way you buy, sell, and hold these assets in New York. Many people who trade…