Understanding Estate Taxes in New York City
The subject of taxes intimidates many people, but the basic concept of estate taxes for real estate is relatively straightforward. Whether you are buying a home from an estate or…
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Transfer Tax Law Changes 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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New York City Real Estate Taxes Explained
New York City’s 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 you…
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Negotiating Real Estate Closing Costs in New York City
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 Like-Kind Tax Exchange
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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The Real 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 Withholding Rules for Foreigners in New York
In an earlier post, we covered the intricacies of buying a property in NYC as a foreigner. As outlined, there are few obstacles to foreign investment in NYC real estate.…
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What is the New York State Capital Gains Tax?
The run-up in New York City real estate valuations has many owners contemplating capital gains tax exposure over the last two decades. When you are ready to sell, you should…
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Paying the Flip Tax When Selling a Co-op in NYC
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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