Transfer Taxes in New York City
Buying or selling real estate in New York City is different from other cities in the US. When purchasing a property in New York City and State the buyer or…
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Taxes
22 posts
NYC Real Estate Taxes: Everything You Need to Know
New York City real estate taxes are some of the highest in the country. NYC also makes it complicated to understand. We discuss real estate taxes in depth to help…
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Closing Costs are Negotiable in a Buyer’s Market
If you’ve been paying attention, then you’ll know that the NYC housing market is in a fully-fledged buyer’s market. Sellers have slowly come around to the conclusion that they have…
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1031 Exchange: Like-Kind Tax Exchanges
Buying a home today is about more than just finding an excellent location and a beautiful house. Buyers must think about future value and its importance. Personal benefit relates to…
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NYC Property Tax Appeal Process
If you are a New Yorker that is contemplating appealing your property taxes, then you should read on. New York City currently collects about $24 billion in property taxes annually.…
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FIRPTA Taxes for Foreign Buyers
In an earlier post, we covered the intricacies of buying property in NYC as a foreigner. As outlined, there are few obstacles to foreign investment in NYC real estate. Unlike…
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What is the Capital Gains Tax?
The run-up in New York City real estate valuations over the last two decades have many owners contemplating capital gains tax exposure. When you are ready to sell, you should…
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Co-op Flip Taxes in New York City
You’ve probably heard the term “flip tax” mentioned in conversations that involve buying and selling New York City real estate. Flip taxes cannot be, deducted as a property tax, typically…
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Tax Reform: Real Life Real Estate Impact
The recently signed tax law will have far-reaching consequences. In fact, it is likely going to take some time before knowing the full economic effect. Nonetheless, we would like to…
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What the Tax Legislations Means for You
The tax overhaul bill, hotly debated among various segments of the population, is likely to pass both houses of Congress this week. It will be sent for the president’s signature…
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