Changes to New York's Excelsior Linked Deposit Program
New York LDP Program Overview The Excelsior Linked Deposit Program (LDP) was established on February 11, 1994, and made permanent on March 30, 2001....
Filtered by Author: Don Warrant, CPA
IRS Provides Clarity on Energy Tax Credits in the Inflation Reduction Act
Guidance issued on energy-efficient home improvements and residential clean energy property credits Thinking about making energy-efficient home...
Vacation Home Tax Rules: New York State Appellate Court Rules that a Vacation Home Wasn’t a “Permanent Place of Abode” for New York State Income Tax Purposes
Good News for Non-Residents Owning Vacation Property in New York State The New York State Supreme Court, Appellate Division, Matter of Obus v New...
New York State Sales and Use Tax Update: Contractor’s Purchase of Concrete Not Exempt
The Appellate Division of the New York State Supreme Court confirmed a contractor’s purchase of concrete was not exempt from the New York State sales...
Remote Work State Tax Compliance: What Employers Need to Know
Yet another unpleasant side effect of the COVID-19 pandemic and the ongoing battle with its variants is the potential state income/franchise, sales,...
SALT Deduction Limit: Avoiding the $10,000 Federal Limitation in New York
SALT Deduction Limit: Avoiding the $10,000 Federal Limitation in New York Effective for tax years beginning on or after January 1, 2021, The New York...
Qualified Opportunity Fund Investments: IRS Provides Additional Relief
On January 20, 2021, the IRS released Notice 2021-10 to provide additional relief to Qualified Opportunity Funds (“QOF”) and their investors in...
Opportunity Zones Explained: IRS Guidance Updates
On June 4, 2020, the IRS released Notice 2020-39 which provides relief under the federal Qualified Opportunity Zone (“QOZ”) program as follows: