If you’re looking for ways to reduce NYC business tax, you’re not alone. Many New York City business owners are surprised when they discover they’re paying an additional city-level business tax on top of their federal and state tax obligations. The good news is that there may be opportunities to legally reduce or even eliminateContinue reading “NYC business Tax: How to Reduce When Your Profit Exceeds $90,000”
Category Archives: NYC-Specific Rules
Why the new rules on overtime and tips credits don’t help New York business owners
We have been getting a lot of calls from clients asking if we can change there payroll to pay them overtime or tips so they can earn tax free income under the new tax law.
The short answer is no. Here is why the new rules on overtime and tips credits don’t help business owners
Leasing a Car for Your New York Business: Is It Tax Deductible?
Leasing a car for your business can be a smart move both operationally and financially. By understanding the rules around tax deductions and keeping thorough records, you can reduce your tax burden while keeping your business on the move. Ready to hit the road? Just make sure your paperwork is as smooth as your ride!
File your Beneficial Ownership Information Report on time
To avoid criminal & civil penalties, businesses must file a report with the Financial Crimes Enforcement Network (FinCEN)
NY ditches hidden credit card surcharges with updated law
Businesses in New York must clearly state the higher credit card price of an item and limit their surcharge amounts after an updated law goes into effect.
A New Federal Overtime Rule and What is Different in New York
Eligibility for overtime expanded to include more white-collar workers. Now more of your workers might be eligible for overtime pay.
NYS and NYC wants to make sure you really moved before they let you stop paying taxes
In the last few years, we have had clients think they moved out of NYS or NYC and want to obtain the related tax savings. But the cost, time and effort of the audit was not pleasant.