For a managed account where the owner passed away, how does the step-up basis work and how are taxes handled when the positions are sold and the proceeds are moved to the beneficiaries' accounts?

February 23rd, 2024

I am moving from Washington state to New York for a year. I have a permanent residence in Washington and my employer is based in New York but has operations in multiple states. I was hired as a remote employee based in Washington state. Can I avoid paying New York state income taxes while I am physically in New York, given that I still have a permanent residence in Washington and my payroll is currently assigned to Washington state, which does not have income tax?

September 29th, 2023

A US mother, who is a dual citizen and resides in Puerto Rico, wants to gift a Canadian home to her US son. Does the son need to report this property gift on any IRS form, such as Form 3520 or Form 709, and what are the implications if the mother does not file a tax return regularly?

May 20th, 2024

When preparing a corporate tax return, we add back into income the personal use of corporate property, such as a company automobile, and the 50% meals and entertainment expenses. Is the personal portion of the automobile use and the 50% meals add back considered constructive dividends even if the corporation took no tax deduction for them? Additionally, is the add back of officer life insurance premiums, which are paid by the corporation but not deducted, considered a constructive dividend?

September 6th, 2024

As an international freelancer residing outside the US and being paid by a US company through a US bank account created during my time as an international student, do I need to file any US tax documents or pay taxes on this income?

March 7th, 2023