Filing Taxes for First-Time Homeowners in NYC
Becoming a first-time homeowner is a major deal for everyone. You now have a place to call your own, and with that comes a responsibility to look after your investment…
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Estate Taxes in New York City Explained
The subject of taxes intimidates many people, but the basic concept of estate taxes for real estate is relatively straightforward. Whether buying a home from an estate or selling an…
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Transfer Tax 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 NYC
If you’ve been paying attention, then you’ll know that the NYC housing market is in a fully-fledged buyer’s market. As a result, sellers have slowly concluded that they have to…
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1031 Exchange Timelines, Restrictions and Benefits
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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How to Appeal Your Property Taxes in NYC
If you are a New Yorker contemplating appealing your property taxes, you should read on. New York City currently collects about $24 billion in property taxes annually. The city expects…
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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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Real Estate Capital Gains Tax in New York State
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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Flip Tax for Co-ops 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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