Anil Melwani

Did you spend more than 183 days in New York City last year?Residency is determined by where your primary belongings are, mail is sent to, and where your kids are registered in school. If you have a second home that is located in NYC, it can be confusing to understand which taxes to pay and […]

Are you paying the correct amount of income tax in New York?If you own a home in New York, but your primary residence is located in another state or country, you may need to look out for a New York residency tax audit. Even if you work in the same NYC office as someone who […]

Setting up an LLC as a foreigner has numerous factors to consider when it comes to filing taxes properly. Depending on your income whether it’s real estate or self-employed, a foreigner is subject to tax treaties. Tax treaties are beneficial for a foreign owner because it eliminates the risk of being double taxed by both […]

If you live in another state besides New York but have income sourced in New York you are required to file a part-year resident or nonresident return. If you live in the city you qualify for the New York City residency tax. If your primary home is outside the city, are you filing the appropriate returns? Avoid a New York residency tax audit by contacting a qualified CPA today.

Want to avoid paying the New York City residency tax?If you spend 182 days or less in the city you can avoid paying the NYC residency tax. Feel free to own a second home in the city, but your primary home needs to be elsewhere. It’s important to keep an updated track of your records […]

How to avoid a New York Residency Tax Audit (missing transcript)

A change in the new tax law will eliminate a tax break for alimony payments finalized after Dec. 31st. Up until now, alimony payers were able to deduct payments from their taxes while the receiver had to declare alimony as taxable income. The IRS realized they were losing revenue from the payer side but gaining […]

Residency audits are common in New York because both New York State and New York City have their own state and local income taxes, complicating the tax code that most already find very difficult to navigate. One of our clients recently underwent a Residency audit, having New York claim that she was a full-time resident, […]

When filing taxes, individual taxpayers can itemize, or list out, certain deductions if doing this would be more than their standard deduction. Schedule A is the federal tax form that itemized deductions are reported on. The most common types of itemized deductions are state and local income taxes, mortgage interest, real estate taxes, charitable contributions, […]

As a self-employed individual, it’s especially important to file your taxes with care. When you’re self-employed, the responsibility falls solely on you to keep proper books and records. No matter what industry you work in, you should be proactive about accurate record keeping and documentation to avoid tax troubles. When it comes to individual tax […]