Since the onset of the coronavirus back in early March, with offices being shuttered and the prevalence of working from home, many have left New York with no intention of returning any time soon. While apartments sit vacant on the Upper East Side, West Side, Chelsea and Park Slope, home offices have opened up at summer houses in the Hamptons, the Berkshires and on the Jersey Shore. What is the tax impact on New York State and NYC residents?
Topics to be discussed:
– Who is subject to NYS and NYC income tax?
– What impact does working from a temporary location have on your NYS and NYC taxes?
– What can be done to avoid being treated as a NYC resident?
– Issues for employers, employees and the self-employed.
EPISODE 10: Leaving New York State and/or New York City: Residency Issues in the Time of COVID-19
Richard L. Feldman, CPA
Senior Tax Manager, Janover LLC