Do You Pay Extra Tax if You Work in Yonkers?

Posted by on Jun 23, 2024 in Personal Tax |

Yonkers is the third largest city in New York State. Located in Westchester County it is conveniently located just 17 miles from Manhattan. If you work in Yonkers, NY, you may have to pay additional income tax. Yonkers has its own income tax system separate from New York State and New York City. Yonkers residents and non-residents who work in Yonkers are subject to the Yonkers Resident Income Tax or the Yonkers Nonresident Income Tax,...

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Westchester County Sales Tax

Posted by on Jun 23, 2024 in S-Corp, Small Business Tax |

If you sell goods or services in Westchester County you will be required in most cases to collect. Sales tax provides state and local municipalities with funding for schools, maintenance projects and other government programs. A business owner in White Plains, NY will have to collect an additional 8.375% for tax. This tax is the sum of: 4% to New York State 1.5% to Westchester County 2.5% to White Plains 0.375% for Metropolitan Transportation...

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What Does IRS Code 806 Mean?

Posted by on Jun 23, 2024 in Personal Tax |

One of the documents used to determine someone’s true tax situation is the IRS tax transcript. When you owe money to the IRS it is not uncommon for them to send a variety of letters explaining your tax situation. The longer the tax goes unpaid the more threatening the letters seem to become. These letters should not be ignored as they contain important instructions and deadlines that should not be overlooked. An IRS tax transcript helps you...

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Can You Deduct Starbucks on Your Taxes

Posted by on Jun 23, 2024 in Personal Tax |

It’s surprising the number of people who want to know if they can deduct their Starbucks orders on their taxes. For this reason we want to answer that question and educate you on the IRS rules. The tax code allows you to deduct 50% of the cost of meals (including that Starbucks coffee), if it is considered a business meal. In other words the meeting should be for business purposes. One other requirement to deduct business meals on your taxes is...

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