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Baby Steps… Governor Hochul’s First Response to NYC’s Housing Conundrum

September 21, 2023

It’s no secret that the State of New York is in the midst of a housing shortage. In Governor Hochul’s State of the State Address, she proposed to work with local governments to help infuse New York with 800,000 new…

Residency Status May Have Important Federal Income, Gift and Estate Tax Consequences

By Tax Tracker

June 22, 2023

U.S. persons are subject to federal income tax on their worldwide income, while non-U.S. persons (nonresident aliens) are subject to federal income tax only on their U.S. source income. Similarly, U.S. persons for federal gift or estate tax purposes are…