New York State Passes Legislation Requiring Employers to Provide Greater Protections Against Sexual Harassment
May 30, 2018Effective immediately, the legislation expands protections against sexual harassment under the NYS Human Rights law to non-employees including independent contractors and subcontractors. Effective July 11, 2018, prohibitions on the use of nondisclosure clauses in settlements or agreements rel Read More
CLIENT ALERT- STATE AND LOCAL TAX DEDUCTION UPDATE
May 17, 2018The 2017 Tax Act adversely impacted individual taxpayers in states with higher taxes by limiting the previously unlimited itemized deduction for state and local income and property taxes to $10,000. On the other hand, eligible cash charitable contributions (which includes charitable contribut Read More
New York’s Response to the 2017 Tax Act
Apr 25, 2018On April 17th, the official “Tax Day” of 2018, Governor Andrew Cuomo signed into legislation New York’s response to the 2017 Tax Act provisions. The constriction of the state and local tax deduction for income and property taxes under the 2017 Tax Act to $10,000 has adversely impacted Read More
Significant 2018 Tax Changes For Music Publishers
Feb 08, 2018The original article published by Hypebot on Feb. 7, 2018 can be found by clicking here. It was written by Magda Szabo, CPA, JD, LL.M., Tax Partner, Janover LLC with contributions from Steven White, CPA, Principal, Janover, LLC The passage of the massive tax reform bill will be impacting all Read More
2017 TAX LAW ALERT – ESTATE TAXES:
Jan 31, 2018As part of the sweeping tax reforms enacted in December 2017, there was a significant increase in the gift and estate tax lifetime and at death exclusions. Under these changes, a married couple who has not previously made any taxable gifts can now leave almost $ 22.4 million to their heirs wi Read More
Highlights of the Tax Reform Bill
Dec 26, 2017Highlights of the Tax Reform Bill: On December 22, 2017, President Trump signed one of the most sweeping tax reform bills in thirty years. Following are some of the more salient provisions, most of which are effective beginning January 1, 2018. I. Individual Taxes: 1. Brackets and Rates: Inco Read More
On Thursday, November 3rd the House Ways and Means Committee released its long-awaited tax proposal which would make significant changes to the existing tax rules for businesses and individuals. Presented below is our analysis of some of the more significant tax provisions. It is very impo Read More
Important Minimum Wage Increase Information
Mar 30, 2017The New York State Department of Taxation and Finance is sharing this important message from the Department of Labor. New York State’s minimum wage increased on December 31, 2016 as the first step in the statewide $15 minimum wage plan enacted as part of the 2016-17 State Budget. Across the Read More
The requirement to file a Form 1099 Misc for specified payments goes all the way back to 1917. Presently, this Form must be filed for rents paid, nonemployee services received as well as payments to an attorney, accountant, or other service provider. The IRS is stepping up enforcement by way Read More
Can a taxpayer assign income to someone else?
Oct 07, 2015Gross income is taxed to the person who earns it by performing services, or who owns the property that generates the income. Under the assignment of income doctrine, a taxpayer cannot avoid tax liability by assigning a right to income to someone else. The doctrine is invoked, for example, for Read More