212 Tax & Accounting

New York State brings in over a billion dollars every year from residency income tax audits. Many NY State residents believe they can get away with avoiding the NYS income taxes. Residents fail to realize the... facebook.com/cpanyc/videos/…

If you fall under a high tax bracket, your income could suffer severe penalties from a residency tax audit. Avoid a New York residency tax audit by contacting a qualified CPA today. facebook.com/cpanyc/videos/…

If your primary home is not in the city of New York, but you own a second home in the city, it’s extremely important to keep track of your books and records to avoid a New York residency tax audit. You could be facing... facebook.com/cpanyc/videos/…

Are you selling a real estate property as a nonresident in the US? The US created FIRPTA to withhold 15% of a foreign sellers’ gross sale proceeds. The US requires a foreign seller to file the appropriate taxes in order... facebook.com/cpanyc/videos/…

Is your foreign business heading over to the US? Here’s how your foreign-owned entity could benefit on US soil. Contact Anil Melwani, CPA, at 212 Tax Accounting Services to learn more about setting up an LLC in the US as a foreigner. facebook.com/cpanyc/videos/…

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... facebook.com/cpanyc/videos/…

Are your back taxes piling up? If you owe back taxes you could be looking at jail time. For a city or state tax problem it’s rare to serve jail time. However, the state and city will settle your debt by seizing all... facebook.com/cpanyc/videos/…

Did you know a NYC penalty can add an extra 25% to your unpaid taxes? New York City residency tax penalties always include interest and can cause significant damages to your earnings. Make sure you’ve paid your dues... facebook.com/cpanyc/videos/…

Is FIRPTA in the way of your gross proceeds from a real estate sale? The US withholds 15% of the gross proceeds of the sale of a foreign-owned property. It’s possible the foreign seller could receive all proceeds back... facebook.com/cpanyc/videos/…

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... facebook.com/cpanyc/videos/…

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... facebook.com/cpanyc/videos/…

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... facebook.com/cpanyc/videos/…

Looking to start an LLC as a foreigner? Setting up an LLC as a foreign-owned entity is tricky when you don’t have a social security number. Get ahead in the business game and apply as a C Corporation or LLC to receive... facebook.com/cpanyc/videos/…

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You can save $1000s of dollars on your taxes. The new tax laws brought about a lot of changes that can save business owners, independent contractors and freelancers $1000s of dollars on taxes. There are also... facebook.com/cpanyc/videos/…