Questions tagged [new-york]
for questions that relate to the laws, practices, and products in the state of New York.
185
questions
2
votes
2
answers
214
views
Under what circumstances is NYS Refund taxable?
I don't itemize deductions for Federal and NYS Taxes.
Is NYS Refund still taxable?
Under what circumstances is NYS Refund taxable?
My co-worker says NYS Refund is taxable after $63, but I cannot find ...
- 349
1
vote
1
answer
33
views
How to better balance state taxes when working in another state
I/we live in New York and my wife works in New Jersey. Whenever I file our taxes, the New Jersey non-resident return is pretty balanced. However, my New York return always has NY state owing us a ...
- 11
1
vote
1
answer
56
views
NYSaves 529 Plan vs Vanguard Fidelity 529 Plans
My partner and I live in NY State and file jointly.
I want to start investing into NY States 529 program here : https://www.nysaves.org/
I am planning to invest 10k per year for tax deduction and not ...
0
votes
1
answer
142
views
Can I somehow convert a tax credit for solar into cash?
A solar company in nyc told me that if I do with them solar I can get %20 on property tax 30% in federal tax and $5000 in tax
The 30% tax is non refundable and also $5000 .
Is there a way to use to my ...
14
votes
1
answer
5k
views
How to fight an unemployment tax bill that I do not owe in NY?
Back in the summer I received a tax bill saying I owe money for unemployment, but I do not as I never filed it. It's most likely fraud claim under my name or company.
Below are the redacted documents ...
- 2,015
1
vote
1
answer
231
views
I own and run a business. Today I received from NYS that I owe money on taxes for Unemployment Insurance that I received. I never filed it
Just saw the letter from NYS saying I owe 1000+ for claiming UI for 2021. I never claimed as I run my own business in NYC and file a Schedule C every year with my taxes. It says I need to pay it by ...
- 2,015
0
votes
0
answers
54
views
Working remotely for company based in NYC?
I am a resident of Philadelphia, PA. I got an offer to work for a company based in NYC. The position is initially remote for ~6 months, before becoming hybrid and forcing me to live in NYC itself.
...
- 2,788
3
votes
1
answer
135
views
Is the hospital illegally using "balance billing" of primary and secondary health insurance to charge us too much?
My wife and I live in New York City and recently we had a baby and my wife stayed in the hospital for two nights. She has insurance through her employer, which is her primary insurance, and she is ...
1
vote
0
answers
54
views
Is a New Jersey (United States) resident earning New York state income allowed to deduct New York State 529 contributions via form IT-203?
I am a New Jersey resident that earns New York State income, and so I file form IT-203. I noticed this year something I hadn't before - the New York State 529 website mentions (under Direct Plan tax ...
- 161
1
vote
1
answer
56
views
How many years to go back and file an amended return re shared custody situation [closed]
Similar to but different from Amendment After 3 Years That Increases the Tax
Two parents have a bunch of disagreements which they will hopefully be addressing soon via mediation.
Mother (M) lives out ...
- 699
2
votes
1
answer
209
views
Possible Car Dealership Scam
I am new to purchasing vehicles and handling financial matters in general. I am trying to improve my financial literacy but still have a ways to go. My father is currently trying to purchase a vehicle ...
- 21
0
votes
0
answers
44
views
Moved from NY to Florida; do we owe NY State Tax? [duplicate]
We moved from New York to Florida in late June 2021. Bought a house here in May, sold our old house in August. I'm retired; wife works remotely (per diem) for NY firm that took out state income tax (...
2
votes
1
answer
131
views
Did the Hospital Mis-Bill My Insurance Plans?
Some months ago, I received treatment at a hospital in New York City. While I was there, I provided them with the insurance information for two plans under which I was covered.
Company A sent me an ...
- 51
0
votes
1
answer
175
views
Implications of changing address of my credit card temporarily? [closed]
A gym that I attend requires a yearly contract with the option of breaking it if moving out of the state.
A change address of a credit card can be accepted as a proof. Is it possible to change the ...
- 111
3
votes
1
answer
189
views
Must I pay NYC city tax?
I do not live in New York City I live in central New York and work in central New York. My employer has taken out NYC city taxes. Is this a tax I, not being a resident of NYC or any of the 5 boroughs ...
- 31
-1
votes
2
answers
125
views
Does the New York Stock Exchange Building have a Business Continuity Plan for dealing with a hurricane hitting New York City?
I would like to know if the New York Stock Exchange Building has a rock solid business continuity and disaster recovery plan to deal with the event of a hurricane directly hitting New York City and ...
- 101
1
vote
2
answers
212
views
How does NYC compute the "ESTIMATED MARKET VALUE" of condo apartments
When the city of New York assesses the value of a condo for property tax purposes, the first line is the ESTIMATED MARKET VALUE. This number may or may not determine the property taxes owned (...
- 188
0
votes
3
answers
458
views
Can a 20% down payment actually hurt you?
Goal: avoid overpaying for a house.
Scenario:
$200k house
800+ credit score
Conventional 30 year loan at market rate
Conventional loan requires 5% down minimum
I can comfortably afford 20% down
Loan ...
- 7,629
1
vote
0
answers
48
views
New York state income taxes for out of state remote worker [duplicate]
I am looking at taking a job offer from a company based in New York. The position is fully remote and I live in Utah.
I have been trying to find information on what my state income taxes will look ...
- 515
2
votes
0
answers
38
views
Is telecommuting due to covid valid for taking the home office deduction for W-2 employee for New York State Tax Return?
For W-2 employees, as far as I know, you cannot take the home office deduction for your federal return, if the reason is telecommuting due to covid. It must pass the "convenience of the employer&...
- 145
1
vote
1
answer
82
views
Can you declare home office use for New York State return but not Federal?
Due to the 2018 IRS Tax Law, W-2 employees lose out on most work expense deductions including home office deduction, as I understand it. And for this year, you cannot use the home office deduction due ...
- 145
0
votes
1
answer
158
views
Is New York's formula for taxing non-residents constitutional? How? [closed]
When a New York State non-resident has NYS income, NY's tax rates are based NOT on the absolute amount of the NYS income, but on the non-resident's federal income, pro-rated to the percentage earned ...
- 109
0
votes
1
answer
250
views
NY state tax when living in NY and working 100% remotely for a company in WA
I got taxed for NY state(when residing in NY state) and working for a IT company in WA state(WA is my work state).
Notes:
I lived in NY for less than 184 days.
1 Jan 2020 - 15 March 2020 - India - ...
0
votes
1
answer
126
views
Can I file state taxes for two states (MA,NY), claiming to be a non-resident at both?
MA requirement for a full year resident is living in the state for more than 183 days, while in NY the rule is that a full year resident is someone who lived there for more than 184 days. If a person ...
- 734
0
votes
1
answer
31
views
How do I reflect Stock Profit and Dividend in New York State Tax 2020
Please help me
I googled how to reflect stock profit and dividends for New York State tax, but it led me to New York State tax website I was unable to understand.
Few days ago I called New York ...
- 349
3
votes
1
answer
106
views
Will capital gains from one state offset capital losses from another state?
I moved in the middle of the year. I made capital gains from stock sale while living in NYC and then had capital loss from stock sale after I moved to NJ. Usually I could offset capital gains with ...
- 31
2
votes
1
answer
73
views
I am a single member LLC. I am most likely going to have a business loss this year 2020. What do I need to know to report a loss?
I run a small repair shop in NYC and this year 2020, I will need to report a loss. I never reported a loss before so I'm not sure if my knowledge of it is out of date or not.
I read that for 2020 ...
- 2,015
1
vote
1
answer
571
views
Asking for my phone number while offering hard-to-believe low rent in Manhattan — is this a potential rental scam?
Today, I responded to a couple of Craigslist ads for rentals in the heart of Manhattan, NYC, where I currently live. The rent advertised is about half of what I currently pay, so naturally I am ...
- 13
3
votes
1
answer
166
views
How do I prepare for a potential furlough on my salary?
Today I heard a rumor in the office that we might be seeing a salary furlough coming within the next few months. Normally I don't pay much attention to the rumor mill, but this rumor has some ...
- 4,348
1
vote
1
answer
89
views
Which NYS employee taxes are optional?
United States and NY state here. I'm looking at my paystub and under Employee Tax Witholdings I'm seeing the following line items taken out:
Federal Income Tax
Social Security
Medicare
NY State ...
- 383
1
vote
1
answer
2k
views
Can a 501(c)(7) receive external donations from non-members?
United States/NYS here.
Can a 501(c)(7) tax-exempt nonprofit ("social club") receive outside/external donations from non-members (individuals or businesses alike)?
For example: lets say ...
- 383
2
votes
2
answers
67
views
COBRA eligibility and plan transfer
United States (NYS specifically) here.
I am in somewhat of a unique position. I have a W2 (salaried) job that has full health, dental and vision benefits, and I have lined up another W2 job (full time,...
- 383
2
votes
1
answer
75
views
Making equity investment of personal money to LLC
NY state here. I have a very small single member, member managed (I'm the member) LLC that has elected to be taxed as an S-corporation (this might be important).
The LLC is running a little light on ...
- 383
0
votes
1
answer
82
views
Reducing tax obligation for LLC electing S-corp taxation
United States here, specifically NY state (if it makes a difference). Say we have a super small, 1-man member-managed LLC that has elected to be taxed as an S-corporation. This way, the 1-man member ...
- 383
3
votes
1
answer
722
views
I suspect an investment I made is run by a scam artist, what can I do?
I have to admit, greed overcame me - and made some questionable investment choices with a person who I think is a scam artist.
I gave $12.5k, I have not given banking information. The scammer asked me ...
- 39
4
votes
1
answer
195
views
Do I have to put 20% down on a condo so that I don't have to live in it for 1 year before renting it out to tenants?
I really want to purchase a condo and rent it out to tenants for some extra cash flow here in Queens, NY.
I contacted a mortgage loan officer and he told me that I HAVE to put 20% down if I decide not ...
- 61
26
votes
5
answers
10k
views
I just paid off my car - should I release my Credit Union's lien on the car?
We just came upon a windfall significant enough to pay off our car loan - so I did. My Credit Union just sent me a letter describing the way in which I can remove them from the lien. From the letter:...
- 4,348
1
vote
1
answer
61
views
NY State retirement withdrawal and management
My wife worked for ~4 yrs at a school in NY. She was entitled to a retirement package. It states that she as a contribution balance of $4,477.
She does not want to go back to work as we are raising ...
- 793
2
votes
2
answers
260
views
Do Mineral Rights stay with the original land owner through death or can the current land owner retrieve them?
My husband and I are looking to purchase a hundred acre property in Western NY. The current owner says the original owner is receiving payment for gas mineral rights associated with the 100 acre ...
- 21
1
vote
0
answers
80
views
Check Cashed By someone else [duplicate]
I am facing one weird situation.
I am about receive check for my kid’s summer camp refund. Summer camp agency issued a check and it was never delivered to me. When I contact them they said its ...
- 11
2
votes
0
answers
105
views
Roommate/co-tenant said she would renew but lied after I sign lease - invalid lease?
So, my roommates and I planned to sign a lease renewal as co-tenants in NYC. While some of the roommates already signed it, the others changed their mind last minute. This unfortunately means the ...
- 21
1
vote
3
answers
81
views
Are maintenance fees and other fees covered by tenant or does the owner have to pay that?
I'm looking around apartments not to live in - but to rent out for some cash flow. I'm eying a particular co-op and was wondering: Hypothetically, I took out a mortgage for the co-op.
Am I ...
- 61
1
vote
0
answers
54
views
Can I ignore form 2439?
I got my first form 2439 (Undistributed Long-term Capital Gains). After doing research, it seems that since I didn't actually get any money, the net result is a not-so-large gain after I sell the ...
- 285
14
votes
3
answers
2k
views
What should I prepare for tax-wise when moving from one state to another?
In about 2 months, my wife and I will be moving to another state and I will be starting a new job - this move will be from the Capital Region of New York State to the St. Mary's County region of ...
- 4,348
0
votes
1
answer
86
views
Taxes on Family leave pay
Do we have to pay taxes on checks from the government that were paid from taxes in the first place.
For example, like Social security checks and Paid Family Leave checks? If that is the case, what is ...
- 103
1
vote
1
answer
6k
views
Do you need both a bill of sale and title when buying a used car?
I am attempting to make my first used car purchase from a private party in New York. I understand that the title should be transferred to me after the sale but what about a "Bill of Sale" ? Would I ...
1
vote
1
answer
103
views
Owing NYC local income taxes?
I was completing my 2019 taxes when I found out that my employer(for the new job that I started in 2019) has not withheld any local NYC income tax(“Local income tax”[box 19] on w2 is empty but they ...
1
vote
0
answers
72
views
Why is NYS supplemental rate so high?
For 2019 the NYS suplemental withholding rate was 9.62%. However the maximum tax bracket in NYS is 8.82% for 2019. This means that even for the highest earners the withholding will be too much and ...
- 111
1
vote
1
answer
103
views
How does the "Subdividing Tax Lots" scheme work?
In an article that broke today, a Manhattan developer was charged with "subdividing tax lots" in order to get around zoning laws limiting the height of a skyscraper.
What does it mean to subdivide a ...
- 107
1
vote
0
answers
71
views
NY & Federal Quarterly tax payments for someone with Fulltime job and a side gig?
In 2020 I want to start paying estimated quarterly taxes but I am not sure exactly how to calculate the amounts.
If I make X$ yearly income from my full time job have maximum withholding. I also ...
- 53