by George Dimov | Dec 29, 2024 | NYC Accounting
New York City, often referred to as the “City That Never Sleeps,” is a bustling metropolis known for its diversity, vibrant culture, and high cost of living. Whether you’re planning to move to the city or already call it home, understanding what...
by George Dimov | Dec 29, 2024 | NYC Accounting
Living and working in New York City can be expensive, and understanding how much of your salary will be left after taxes is crucial for financial planning. If you earn $200,000 annually, your tax liability will include federal, state, and local taxes, all of which...
by George Dimov | Dec 29, 2024 | NYC Accounting
The mansion tax in New York City is a surcharge imposed on the purchase of residential properties worth $1 million or more. If you’re planning to buy a high-end property in the city, it’s important to understand how the mansion tax works and explore...
by George Dimov | Dec 29, 2024 | NYC Accounting
New York City imposes some of the highest income taxes in the United States. The city’s tax rates are progressive, meaning that the more you earn, the higher percentage of your income you pay in taxes. These taxes, combined with New York State and federal taxes,...
by George Dimov | Dec 29, 2024 | NYC Accounting
The millionaire tax in New York City refers to the higher income tax rates that apply to individuals earning over $1 million annually. This tax is part of New York State’s progressive income tax system, which imposes higher rates on high-income earners. In addition to...
by George Dimov | Dec 29, 2024 | NYC Accounting
Earning a high income like $500,000 a year in New York City (NYC) comes with significant tax implications. NYC has a complex tax system with federal, state, and city taxes, all of which take a chunk of your income. Understanding how much of your $500,000 will go...
by George Dimov | Dec 29, 2024 | NYC Accounting
If you live or work in New York City (NYC) and earn $100,000 annually, it’s important to understand how much of that income will go toward taxes. NYC has a unique tax system that combines federal, state, and local taxes, so the amount you owe depends on several...
by George Dimov | Dec 29, 2024 | NYC Accounting
Starting and running a business in New York City (NYC) can be an exciting venture, but understanding the tax landscape is crucial to ensuring your business stays compliant and financially healthy. If you’re considering forming a Limited Liability Company (LLC) in NYC,...
by George Dimov | Dec 29, 2024 | NYC Accounting
If you’re the owner of an S Corporation in New York, understanding how state taxes apply to your business is crucial for planning and compliance. S corporations are unique entities, and their tax obligations in New York differ from traditional C corporations. Let’s...
by George Dimov | Dec 29, 2024 | NYC Accounting
If you’re a business owner operating in New York, understanding the corporate tax rate is crucial for planning and compliance in 2024. The corporate tax landscape in New York can be complex, with variations depending on your business size, structure, and...
