In real estate investments, market fluctuations must be anticipated. From a legal standpoint, that requires due diligence. Our commercial real estate clients need to understand not only the consequences of entering into a contractual relationship, but also how to exit it, should the need arise.
Taking steps to review one tax strategy before the end of the year can be beneficial for many New York residents. According to a recent article, taking certain steps might reduce the tax burden an individual might face by when it is time to file returns in April.
Business owners in New York are likely already aware that they operate under burdensome taxes. A major accounting firm recently rated New York City as last out of 31 cities in the country at providing favorable tax climates for businesses. According a 2014 competitive tax analysis conducted by Forbes magazine, New York was found to have the highest tax cost in the country and the second highest total business costs behind San Francisco.