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Changing Residency from New York to Florida (or Any Other State): Part Two – Domicile
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Changing Residency from New York to Florida (or Any Other State): Part Two – Domicile

Posted By: Scott Shimick
Note: This is the second in a series of articles that will cover strategies for changing residency, surviving an audit, and challenging a negative result.New York State is arguably the most onerous income tax jurisdiction in the country. This has led many New York residents to change their residency to reduce their tax burden on income not effectively connected to New York. This includes business income from around the United States and the world, as well as investment income in retirement. [...]
Tags:   Tax /
Practice Area(s):   Federal and State Taxation
Changing Residency from New York to Florida (or Any Other State): Part One - Introduction
Featured

Changing Residency from New York to Florida (or Any Other State): Part One - Introduction

Posted By: Scott Shimick
Note:  This is the first in a series of articles that will cover strategies for changing residency, surviving an audit, and challenging a negative result.New York State is arguably the most onerous income tax jurisdiction in the country. This has led many New York residents to change their residency to reduce their tax burden on income not effectively connected to New York. This includes business income from around the United States and the world, as well as investment income in retirement. [...]
Tags:   Tax /
Practice Area(s):   Federal and State Taxation
IRS Issues Confusing Guidance on Revamped EV Credit
Featured Industry Updates

IRS Issues Confusing Guidance on Revamped EV Credit

Posted By: Scott Shimick
The Inflation Reduction Act of 2022, P.L. 117-169, revised the credit for electric vehicles (EVs). For vehicles purchased in 2023 through 2032, a credit of up to $7,500 is available to buyers of new qualified plug-in EVs or fuel cell electric vehicles. For many car buyers, this credit will be vital in making the decision to purchase an EV.First, to qualify for the credit, a married, filing jointly, taxpayer must have no more than $300,000 in modified gross income (either for the year of delivery [...]
Tags:   Tax / EV Credit / Electric Vehicle /
Practice Area(s):   Business, Corporate and Commercial