FAQ

How do I Report Airbnb Taxes in New York City?

  Airbnb income is reportable on Schedule E of the tax return, the same as any rental income. Whether you're renting out an apartment or home for one month, one year, Airbnb for just a few nights a year, it's all reportable on the Schedule E of the tax return. If you...

Can I get Multi-State Credits in New York?

  You can definitely get multi-state credits in New York state. If you are earning income and, or paying taxes in another state, you will get a credit in New York State on taxes paid in your home...

How do Quarterly Taxes Work in New York City?

  The quarterly estimated tax payments are April 15, June 15, September 15 and January 15. For clients that are interested in keeping up with those, we give them the vouchers for the next ... for the whole year. If their income and expenses are generally going to stay...

Do freelancers need to pay their taxes quarterly in NYC?

  Most of the time, it benefits freelancers to pay their taxes quarterly, yes. If it's a side thing and your income's really low, then sometimes it doesn't make sense to do it quarterly; it makes sense to wait until the end of the year. If you're a full-time...

Why do Audits Occur in New York City and How Can You Help?

  Tax audits occur for a variety of reasons. One of the biggest schedules to get audited is the schedule C, the self-employed schedule, because you have the flexibility there to take a large amount of write-offs, so when people abuse that privilege of the write-offs...

How do Tax Penalties and Interest Work in New York State?

  Penalties and interests, whether it's IRS or New York state, is usually a percentage of what you owe. Another thing a lot of people don't know is, if you don't owe any taxes, you may not even have penalties to deal with. It's just on file returns and you either do a...

How can I tell if I’ve qualified for a 1040NR in NYC?

  Trying to figure out whether you qualify for a 1040 or a 1040NR, you usually have to undergo something called the Substantial presence Test, which is explained at IRS.gov. You can always take a look at IRS.gov and see if you could figure it out yourself, or call the...

How long do tax audits usually take in NYC?

It really depends on the audit that you get assigned and what they're auditing but it can take anywhere from one month to six months. It really depends on the complexity of your return. I've seen sale tax audits take a couple of years sometimes. It really depends on...

Contact Us

LOCATION

370 Lexington Avenue,

Suite 414

New York, NY 10017


P: (646) 699-3025

Request a Consultation

We are able to work with your unique schedule including after-hour appointments, most weeknights, and weekends.


Press / Articles



Please click above to hear Anil Melwani's radio appearances on Blog Talk Radio!
Email Updates

Enter your email address below to subscribe to our monthly newsletter.


SUBSCRIBE TO OUR NEWSLETTER
FOR MONTHLY TAX TIPS: