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The potential of having to pay estate taxes may hang over your estate plans in New York. Yet should they? While most assume that everyone must pay estate taxes, that is not the case. Both the state of New York and the federal government offer opportunities to limit...
Residential and commercial real estate leasing options often differ in numerous notable ways. For example, in most residential leases, tenants pay fixed rates to a landlord and handle utilities on their own, separately. Commercial leases have more options, however,...
Planning for end-of-life care and emergency medical procedures can be difficult. After all, when a person is healthy, serious illnesses and injuries can seem like abstract concepts. Still, creating a living will is one of the more effective ways to maintain control...
Having a comprehensive estate plan is crucial. Wills and other estate planning tools ensure your heirs receive your assets after you are gone. They can also help you minimize taxes when developed strategically. While it is crucial that you have an estate plan in...
When you anticipate inheriting a certain amount or certain assets when a New York loved one dies, you may be in for an unpleasant surprise if things do not play out as you expected. You may not challenge a will simply because you disagree with how its author chose to...
Even if you do not currently have a last will and testament, it is likely that you are familiar with the purpose of the document. Many people, however, are less aware of living trusts and the role that they can play in a robust estate plan. Living trusts have a number...
You probably already know how crucial an estate plan is for your assets and family. Develop a solid and legally binding plan is equally important, as this will prevent family members from contesting it. According to Kiplinger, certain estate planning mistakes are...
Choosing the right business structure is a must for continued success and growth. According to Business News Daily, partnerships are commercial enterprises created by two or more distinct parties. They offer benefits like increased manpower and reduced tax burden....
International investors have been justifiably wary as they observe current high-end real estate trends in New York City. However, recent signs may indicate a rapid and unusual rebound in the near future. Will there be an uptick in sales of distressed assets? Veteran...
If you sell a property you own, then you will need to file a 1099-S form for tax purposes. According to REtipster, this form is part of the closing process and reports your profits from the sale. The IRS requires you to file a 1099-S form to ensure you pay all...