This document discusses establishing Florida residency and escaping taxes in northeastern states. It provides an overview of residency concepts like domicile and statutory residency. It compares Florida's definition, which focuses on filing a declaration of domicile, to other states like New York, New Jersey, and Pennsylvania. It also outlines factors considered for residency in Georgia and compares requirements in other states throughout the U.S. The document aims to help individuals determine if and when they should change their residency status.
Withum and Giordano Halleran & Ciesla teamed up with PWC NJ to present Financial and Legal Considerations for individuals and businesses amidst COVID-19.
PPP Loan Forgiveness and Tax Considerations For the Construction IndustryWithum
Withum’s Construction Services Team is partnered up with New Jersey Subcontractors Association and New Jersey Land Improvement Contractors of America to host a forum regarding Paycheck Protection Program (PPP) Loan Forgiveness and Tax Considerations for the Construction Industry.
2021 Year End Tax Planning for Law Firms and AttorneysWithum
2021 has ushered in a return to what we can consider our new normal for the foreseeable future. The impact of COVID-19 on law firms persists in the form of hybrid work environments as managing partners are tasked with creating return-to-work policies with flexible remote work options.
With remote work comes complicated nexus implications that law firms must navigate. Meanwhile, federal and state tax laws, particularly Pass-Through Entity Taxes (PTET), continue to impact law firms in a unique way.
Withum and Giordano Halleran & Ciesla teamed up with PWC NJ to present Financial and Legal Considerations for individuals and businesses amidst COVID-19.
PPP Loan Forgiveness and Tax Considerations For the Construction IndustryWithum
Withum’s Construction Services Team is partnered up with New Jersey Subcontractors Association and New Jersey Land Improvement Contractors of America to host a forum regarding Paycheck Protection Program (PPP) Loan Forgiveness and Tax Considerations for the Construction Industry.
2021 Year End Tax Planning for Law Firms and AttorneysWithum
2021 has ushered in a return to what we can consider our new normal for the foreseeable future. The impact of COVID-19 on law firms persists in the form of hybrid work environments as managing partners are tasked with creating return-to-work policies with flexible remote work options.
With remote work comes complicated nexus implications that law firms must navigate. Meanwhile, federal and state tax laws, particularly Pass-Through Entity Taxes (PTET), continue to impact law firms in a unique way.
Landlords & tenants managing through distressWithum
The COVID-19 pandemic has been, for better or worse, a transformative time for businesses undergoing disruption to everyday operations. As trends in office space and locations shift on a large scale, tenants are seeking ways to circumvent existing leases. The demand for rent concessions grows as tenants consider their options in the face of losses and even bankruptcy.
Tenant distress puts a strain on landlords. Whether strict in their terms or accommodating of tenants’ needs, landlords should be well-versed in their protections under the law. Meanwhile, shortfalls in rent payments and obstacles with reopening guidelines pose landlords with struggles of their own.
What can landlords and tenants alike do in the face of these obstacles as the pandemic and economic downturn continue? What trends and innovations can be adopted to help businesses succeed in the face of distress? What is predicted to come next?
Join William Kinney, member of Withum’s Real Estate Services Team; Donald Clarke, Bankruptcy and Restructuring Attorney at Wasserman, Jurista & Stolz; and Ken DeGraw, leader of Withum’s Financial Distress and Recovery Services Team, for this multifaceted discussion.
Handout -revenue recognition webcast 5-27-15Jin Young Park
Revenue is often considered the single most important financial statement measure. However, it can be one of the most subjective amounts on a financial statement as there is no single authoritative accounting pronouncement on how to recognize revenue.
In order to transition effectively to the sweeping new revenue recognition standard (ASU 2014-09), you need a sufficient command of the nuances embedded in our present accounting guidance on revenue recognition. This webinar will address these issues and more.
After a year of uncertainty and economic disruption, the restaurant industry has won federal relief. On March 11 President Biden signed the American Rescue Plan into law which includes a $28.6 billion Restaurant Revitalization Fund (RRF) to assist struggling restaurants during the pandemic. The RRF impacts restaurant owners with 20 or fewer locations and will be administered by the Small Business Administration.
Topics for discussion:
- Who is eligible for RRF?
- How can the fund be used?
- Next steps and important considerations for restaurant owners
PPP Loan Forgiveness and Re-opening Guidance for the Restaurant IndustryWithum
In the midst of COVID-19, restaurants have been forced to change their business model quickly. Withum is partnering with New Jersey Restaurant and Hospitality Association to provide insight on PPP Loan forgiveness and how to prepare for re–opening your restaurant.
2020 Year-End Tax Planning for Law Firms and AttorneysWithum
Tax planning can be a difficult strategic process; this tax planning season is further complicated by the COVID-19 pandemic as well as the uncertainties surrounding the Presidential Election. This session will shed light on a number of significant considerations regarding NJ BAIT, nexus issues related to remote working, and PPP loan forgiveness as it relates to general high net worth planning.
Presenters:
• Chuck Miller, CEO, NgenX Energy
• Martin Harski, Cost Segregation Principal, National Tax Service Group, Withum
• Cary Milstein, Early Entrepreneur, Medical Cannabis Sector
In this webinar, CARES Act Funding and Single Audit Update, Withum’s Devin Desmond and Jennifer Stewart discuss recent developments related to Coronavirus Aid, Relief and Economic Security (CARES) Act funding in addition to revisions to Uniform Guidance and Single Audit implications. Viewers are able to identify recent developments related to CARES Act funding and better understand revisions to Uniform Guidance and impact on Single Audits.
C-Suite Snacks Webinar Series: There’s No Vaccine for This - State and Local ...Citrin Cooperman
Sign up for our weekly C-Suite Snacks webinars here: https://www.citrincooperman.com/infocus/c-suite-snacks
Our C-Suite Snacks webinar series provides the middle market with brief, strategic, and tactical business improvement information for 30 minutes every week. Join Citrin Cooperman live every Thursday at noon for snack-sized insights for business executives.
The pandemic has affected everything in our lives, all the way down to how we run our businesses and our personal finances. In this session, State and Local Tax Partner Eugene Ruvere covered business and personal income tax considerations connected to the pandemic.
The passage of the Tax Cuts and Jobs Act will have widespread and long lasting implications throughout the country and will change how most taxpayers will prepare their tax returns. Citrin Cooperman recently hosted a seminar in Philadelphia to provide insight on where we are now, how we plan to move forward, and how the new law will impact your overall business and tax strategies. Join us to get answers to questions in the following areas:
Corporate and Businesses
Pass-Through Entities
International Issues
Individuals
The Long Lasting Impact of Tax Reform- NYC- Event- 1/24/18Citrin Cooperman
The passage of the Tax Cuts and Jobs Act will have widespread and long lasting implications throughout the country and will change how most taxpayers will prepare their tax returns. Citrin Cooperman recently hosted a seminar in NYC to provide insight on where we are now, how we plan to move forward, and how the new law will impact your overall business and tax strategies.
High Net Worth Webinar Series - Estate Planning Strategies and UpdatesCitrin Cooperman
There’s much uncertainty in the world of estate planning for high net worth individuals and their families. With numerous legislative proposals that would drastically alter the current estate planning landscape, listen in as our Trust and Estate Services Practice team discusses: various proposals, including those in Congress and the Biden Administration’s Green Book, estate and gift planning strategies for the remainder of tax year 2021, and more.
Landlords & tenants managing through distressWithum
The COVID-19 pandemic has been, for better or worse, a transformative time for businesses undergoing disruption to everyday operations. As trends in office space and locations shift on a large scale, tenants are seeking ways to circumvent existing leases. The demand for rent concessions grows as tenants consider their options in the face of losses and even bankruptcy.
Tenant distress puts a strain on landlords. Whether strict in their terms or accommodating of tenants’ needs, landlords should be well-versed in their protections under the law. Meanwhile, shortfalls in rent payments and obstacles with reopening guidelines pose landlords with struggles of their own.
What can landlords and tenants alike do in the face of these obstacles as the pandemic and economic downturn continue? What trends and innovations can be adopted to help businesses succeed in the face of distress? What is predicted to come next?
Join William Kinney, member of Withum’s Real Estate Services Team; Donald Clarke, Bankruptcy and Restructuring Attorney at Wasserman, Jurista & Stolz; and Ken DeGraw, leader of Withum’s Financial Distress and Recovery Services Team, for this multifaceted discussion.
Handout -revenue recognition webcast 5-27-15Jin Young Park
Revenue is often considered the single most important financial statement measure. However, it can be one of the most subjective amounts on a financial statement as there is no single authoritative accounting pronouncement on how to recognize revenue.
In order to transition effectively to the sweeping new revenue recognition standard (ASU 2014-09), you need a sufficient command of the nuances embedded in our present accounting guidance on revenue recognition. This webinar will address these issues and more.
After a year of uncertainty and economic disruption, the restaurant industry has won federal relief. On March 11 President Biden signed the American Rescue Plan into law which includes a $28.6 billion Restaurant Revitalization Fund (RRF) to assist struggling restaurants during the pandemic. The RRF impacts restaurant owners with 20 or fewer locations and will be administered by the Small Business Administration.
Topics for discussion:
- Who is eligible for RRF?
- How can the fund be used?
- Next steps and important considerations for restaurant owners
PPP Loan Forgiveness and Re-opening Guidance for the Restaurant IndustryWithum
In the midst of COVID-19, restaurants have been forced to change their business model quickly. Withum is partnering with New Jersey Restaurant and Hospitality Association to provide insight on PPP Loan forgiveness and how to prepare for re–opening your restaurant.
2020 Year-End Tax Planning for Law Firms and AttorneysWithum
Tax planning can be a difficult strategic process; this tax planning season is further complicated by the COVID-19 pandemic as well as the uncertainties surrounding the Presidential Election. This session will shed light on a number of significant considerations regarding NJ BAIT, nexus issues related to remote working, and PPP loan forgiveness as it relates to general high net worth planning.
Presenters:
• Chuck Miller, CEO, NgenX Energy
• Martin Harski, Cost Segregation Principal, National Tax Service Group, Withum
• Cary Milstein, Early Entrepreneur, Medical Cannabis Sector
In this webinar, CARES Act Funding and Single Audit Update, Withum’s Devin Desmond and Jennifer Stewart discuss recent developments related to Coronavirus Aid, Relief and Economic Security (CARES) Act funding in addition to revisions to Uniform Guidance and Single Audit implications. Viewers are able to identify recent developments related to CARES Act funding and better understand revisions to Uniform Guidance and impact on Single Audits.
C-Suite Snacks Webinar Series: There’s No Vaccine for This - State and Local ...Citrin Cooperman
Sign up for our weekly C-Suite Snacks webinars here: https://www.citrincooperman.com/infocus/c-suite-snacks
Our C-Suite Snacks webinar series provides the middle market with brief, strategic, and tactical business improvement information for 30 minutes every week. Join Citrin Cooperman live every Thursday at noon for snack-sized insights for business executives.
The pandemic has affected everything in our lives, all the way down to how we run our businesses and our personal finances. In this session, State and Local Tax Partner Eugene Ruvere covered business and personal income tax considerations connected to the pandemic.
The passage of the Tax Cuts and Jobs Act will have widespread and long lasting implications throughout the country and will change how most taxpayers will prepare their tax returns. Citrin Cooperman recently hosted a seminar in Philadelphia to provide insight on where we are now, how we plan to move forward, and how the new law will impact your overall business and tax strategies. Join us to get answers to questions in the following areas:
Corporate and Businesses
Pass-Through Entities
International Issues
Individuals
The Long Lasting Impact of Tax Reform- NYC- Event- 1/24/18Citrin Cooperman
The passage of the Tax Cuts and Jobs Act will have widespread and long lasting implications throughout the country and will change how most taxpayers will prepare their tax returns. Citrin Cooperman recently hosted a seminar in NYC to provide insight on where we are now, how we plan to move forward, and how the new law will impact your overall business and tax strategies.
High Net Worth Webinar Series - Estate Planning Strategies and UpdatesCitrin Cooperman
There’s much uncertainty in the world of estate planning for high net worth individuals and their families. With numerous legislative proposals that would drastically alter the current estate planning landscape, listen in as our Trust and Estate Services Practice team discusses: various proposals, including those in Congress and the Biden Administration’s Green Book, estate and gift planning strategies for the remainder of tax year 2021, and more.
While residing in the UK, US citizens have numerous investing hurdles. They must remain vigilant about laws and regulations at all times. Contact a Maseco US UK financial advisor today to learn how we can assist you in managing your domestic and international investments.
Americans face many investing challenges while living in the UK. They require help with keeping constant vigilance on rules and regulations. Get in touch with a Maseco financial advisor expert today to see how we can help you get a handle on your domestic and foreign investments.
Proactive Year-end Financial and Tax Planning StrategiesAICPA
In the third webcast in the AICPA Insights Live webcast series, Beth Gamel, CPA/PFS, Robert S. Keebler, CPA, Ted Sarenski, CPA/PFS and Scott Sprinkle, CPA/PFS, CGMA came together to discuss year-end financial and tax planning strategies, specifically to address the American Taxpayer Relief Act and the Net Investment Income Tax. Below you can find an audio recording from the webcast, as well as the accompanying presentation. Be sure to explore the other webcasts in the AICPA Insights Live webcast series.
Jersey is likely to see a raft of pension changes come into force in 2016, but that shouldn't stop people investing in a Self Invested Personal Pension (SIPP).
In fact, any changes that do occur in Jersey's pension marketplace are only likely to be more advantageous for SIPPs.
AB150 & SB113 California SALT Tax Workaround WebinarMoskowitz LLP
Learn more about recent legislation governing state and local tax workarounds with this webinar from Moskowitz LLP.
For more information on this topic, please watch our full webinar at: https://moskowitzllp.com/webinars/watch-our-latest-webinar-on-ab150-sb113/
You can also subscribe to our monthly newsletter for more topical tax advice.
Join us for an exclusive and informative webinar as we delve into the exciting new updates and features of Sage Intacct's highly anticipated Release 3 for 2023! Discover how these enhancements will streamline your financial management processes, boost productivity, and empower your team with powerful tools for smarter decision-making.
We will walk you through the latest innovations, providing practical insights and real-world use cases to maximize the benefits of Intacct. After the webinar, you will be able to:
Recognize new release features for your business solution
Demonstrate the new user experience and navigation to ease
Manage the latest release of the solution to maximize its potential
Congressional Update on Potential Tax Legislation For You and Your Business.pptxWithum
Many taxpayers have been closely monitoring Congress to see if tax extenders could provide much needed federal income tax relief regarding the 2021 and 2022 Tax Cuts and Jobs Act sunset provisions, including R&E capitalization and the tightening of the interest expense limitation rules. On Friday June 9th, the House of Representatives introduced three bills in the House Ways and Means Committee that could alleviate burdens placed on privately owned businesses.
Learning Objectives
• Analyze the Tax Cuts and Jobs Act sunset provisions for the 2022 and 2023 taxable years.
• Assess the new tax law proposed in the Build It In America, Small Business Jobs, and Tax Cuts and Working Families Acts.
• Evaluate the US budgetary impact of the proposals.
Power Platform Governance Center of ExcellenceWithum
Unlock the full potential of Microsoft Power Platform and effectively govern your low-code applications and citizen developers. Learn how to define, monitor, track, govern, and perfect your Power Platform adoption and strategy, allowing you to focus on what you love most.
Safeguarding Your Law Firm Against Cyber ThreatsWithum
Law firms serve as stewards to valuable, sensitive financial and client information and must remain as trusted business partners.
With the scope and severity of cybercrimes rising, don’t wait to optimize your firm’s approach to cybersecurity. Join Edward Keck Jr., Partner and Practice Leader of Withum’s Cyber and Information Security practice, and Bill Sansone, Partner and Practice Leader of Withum’s Law Firm Advisory team, to learn:
• How to manage the cybersecurity risks affecting law firms, including data breaches
• The value of going beyond what’s required to operate effectively in today’s digital landscape
• How to apply data security best practices and maintain good cyber hygiene at your firm
Navigating Through Uncertain Times: An Economic Update for Manufacturers with...Withum
All companies in the supply chain are impacted by the current economic conditions and the uncertainties in front of us. To successfully navigate these times, businesses have been forced to consider new strategies, develop new alliances and pivot quickly to react to market demands.
Put Your NetSuite Data to Work – Discover Better NetSuite ReportingWithum
Reporting tools can help businesses make valuable data-driven decisions that can ensure your organization’s success. Whether you’re already using Oracle NetSuite or perhaps you’ve thought about it - learn how a built-for NetSuite reporting solution helps quickly build reports that improve business performance.
Withum’s NetSuite Lead, Chris Higgins, and special guest Josh LaSov, Founder of ZoneReporting (formerly Satori) share:
• A limitless reporting solution built for NetSuite by NetSuite experts in the #1 ranked BI tool – Power BI
• How 50+ pre-built reports provide business insights on Day 1
• Why integrating your other data sources with your NetSuite data is critical for end-to-end reporting
IRS Audits of The Employee Retention Credit 2.16.23.pdfWithum
Over the past several months, we have seen a significant uptick in IRS audits of the Employee Retention Credit (ERC). This session will address the details of the ERC with a focus on strategies to successfully resolve your IRS audit without adjustment. We will also share our experiences on what we have seen during these audits.
International Tax and TP in the Metaverse 2.9.23.pptxWithum
Join a panel of international tax and transfer pricing professionals with expertise in taxation of digital assets, blockchain technology, and the metaverse.
CMMC for Contractors and Manufacturers – What to Know for 2023Withum
Manufacturers, contractors, and suppliers who are members of (and/or affiliated with) the U.S. Defense Industrial Base (DIB) must prepare now to ensure assessment readiness. Fears of a near-term enormous bureaucratic traffic jam are arising as tens of thousands of SMBs scramble to become CMMC compliant to avoid administrative exclusion from the DOD bidding process.
Sales Use Tax Opportunities and Traps Affecting Your BusinessWithum
Join us to discuss new developments regarding how the Wayfair decision has affected businesses and the related sales tax compliance requirements. The team will also discuss opportunities such as common exemptions to identify potential refunds, potential audit triggers, and other sales tax trends including collections, remittance, and software solutions.
Webinar: Year-End Planning Steps for Success in 2022 11.29.2022.pdfWithum
Join Withum's tax experts for a timely overview on how you can minimize your tax bill this year.
Learn what steps you can take now to set your company up for success in 2022.
Lessons from the First 100 Days of Recreational Cannabis in New JerseyWithum
Withum’s Cannabis Sector Team and NJ Cannabis Regulatory Commissioner, Krista Nash, discussed new tax policies, and shared our unique insights and predictions for this robust industry.
6 Ways to Accelerate Your Multichannel GrowthWithum
Is your inventory tracking system aligned with your e-commerce platform? Are you having trouble reconciling your payments?
Learn how to remove inventory and payment processing roadblocks and discover a seamless path to growth.
Is There A Union In Your Future? Understanding Cannabis Labor Peace AgreementsWithum
Labor peace requirements instilled by state legislators will materially change U.S. cannabis businesses. California, Rhode Island, New York, New Jersey, Pennsylvania and Virginia are already requiring players in the cannabis market to enter a Labor Peace Agreement (LPA) as a condition to licensing. At least five other states and many municipalities do not require an LPA, but instead offer preferential treatment in a competitive licensing process to those who have signed one.
Withum welcomed Richard S. Rosenberg, Partner at Ballard Rosenberg Golper & Savitt, LLP to share his expertise on cannabis labor peace agreements. Richard is a management-side labor attorney who has extensive experience representing cannabis companies in connection with their LPA negotiations. Richard will explain what signing an LPA really means for your business now and into the future.
Using Cutting Edge Engagement Tools to Improve Talent RetentionWithum
Tech companies and other progressive businesses had been working remotely long before the pandemic and learned over the years how to use innovative tools to improve employee performance management and engagement in remote and hybrid environments. In this session, 15Five will share best practices and case studies lessons learned in companies leading the way in employee engagement and corporate culture and how you can apply them in your law firm.
This CPE webinar will explore Public Law 86-272, which was enacted to protect taxpayers from state income taxes when their sole activity in the state is limited to the solicitation and sale of tangible personal property. State tax authorities have been contesting this federal law ever since passage. Due to the rise of the digital economy, taxpayer protection under P.L. 86-272 has been steadily eroding.
On the final stop for our virtual Global Summit Series, Withum’s International Team proudly presents Dr. Kevin Lyons, Supply Chain Management Department and Director, Public Private Community Partnerships of Rutgers Business School, on a deep dive into how climate change will affect culture and global supply chains.
He will be providing insight into how the global community can start to think about what we can do together to minimize the impacts of climate change on our culture and the supply chains that also connect us. From this presentation international and domestic companies can gain a better understanding on how these impacts may surface in their day-to-day operations as well as long term company profits.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
3.0 Project 2_ Developing My Brand Identity Kit.pptx
Webinar: Establishing Florida Residency
1. WithumSmith+Brown, PC | Certified Public Accountants and Consultants | BE IN A POSITION OF STRENGTH
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0
Establishing Florida Residency
Should I Stay or When Should I Go?
Escaping the Northeast
2. WithumSmith+Brown, PC | Certified Public Accountants and Consultants | BE IN A POSITION OF STRENGTH
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Table of Contents
Introduction
COVID-19 Issues & Current Trends
Residency Concepts and Enforcement Issues
Domicile
Statutory Residency
Income Allocation
Audit & Audit Tips
SALT Implications of Telecommunicating Employees
3. WithumSmith+Brown, PC | Certified Public Accountants and Consultants | BE IN A POSITION OF STRENGTH
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Barry H. Horowitz
CPA, MST, SALT Partner &
Practice Leader
212.829.3211
bhorowitz@withum.com
Jason Rosenberg
CPA, CGMA, EA, MST, SALT
Senior Manager
347.215.0115
jrosenberg@withum.com
Zhoudi Tang
CPA, MST, SALT Manager
212.829.3237
ztang@withum.com
Monica Jalife, CFP®, MBA
Principal, Wealth Advisory,
Withum Wealth Management
212.652.3250
mjalife@withumwealth.com
Elena Ladygina, CFP®,
Wealth Advisory,
Withum Wealth Management
212.652.3251
eladygina@withumwealth.com
Karen Tenenbaum, ESQ., LL.M., CPA
Tax Attorney – Tax Dispute Resolution,
Tenenbaum Law
631.465.5000
ktenenbaum@litaxattorney.com
Marisa Friedrich, ESQ.
Tax Attorney – Tax Dispute
Resolution, Tenenbaum Law
631.465.5000
mfriedrich@litaxattorney.com
4. WithumSmith+Brown, PC | Certified Public Accountants and Consultants | BE IN A POSITION OF STRENGTH
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Current Landscape
and Your Money
5. WithumSmith+Brown, PC | Certified Public Accountants and Consultants | BE IN A POSITION OF STRENGTH
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Withum Wealth
FIDUCIARY
Client First
Approach
Conflict-Free
Advice
Straight Forward
Solutions
Wealth advisory,
multi-generational
and financial
planning services
6. WithumSmith+Brown, PC | Certified Public Accountants and Consultants | BE IN A POSITION OF STRENGTH
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Current Environment
Historically volatile environment
• Fastest bear mkt decline since 1933: 16 trading days
• From 2/19 high to 3/23 low S&P500 lost -33.9%
• Between 3/23 to 6/3 strongest 50-day period since 1952 –
S&P500 up 37%
Many countries are experiencing significant contraction at the
same time – even worse than the Great Depression
• In the U.S., recession started in Feb 20 (ending largest
expansion on record @10 years 8 months)
Massive fiscal and monetary stimulus by central across the
globe, with the U.S. leading the way
7. WithumSmith+Brown, PC | Certified Public Accountants and Consultants | BE IN A POSITION OF STRENGTH
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Looking Forward
Market environment
• $5 Trillion cash on the sidelines
• Growing optimism on fight against COVID-19
• Rebound driven by a narrow list
• Risk of second wave or new outbreaks
• Opportunities for rebalancing, tax loss harvesting and planning
Tax saving opportunities
• Pause required minimum distributions in 2020
• ROTH IRA conversion
8. WithumSmith+Brown, PC | Certified Public Accountants and Consultants | BE IN A POSITION OF STRENGTH
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ROTH Conversion
WHAT IS IT?
Transfer all or some
traditional IRA assets to
a Roth IRA.
All future gains are
shifted to the Roth IRA
and grows tax free.
All future distributions
are tax free.
Not subject to any
future distribution
requirements (RMD's).
Opportunity: Potential to Decrease Overall
Income Tax on Retirement Assets Over the
Long Term
9. WithumSmith+Brown, PC | Certified Public Accountants and Consultants | BE IN A POSITION OF STRENGTH
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ROTH Conversion
WHY NOW?
• Current low tax rate environment
• Expectations of higher tax rates in the future due to rising
government debt levels associated with COVID-19 relief
programs
• Recent decline in global equities
3 MAIN REASONS WHY
• Reduce future required minimum distributions (RMDs)
beginning at age 72
• Transfer assets to non-spouse beneficiaries (children) at death
more efficiently than a traditional IRA
• Further diversify the tax characteristics of an investment
portfolio as qualified withdrawals from the ROTH IRA are tax
free
10. WithumSmith+Brown, PC | Certified Public Accountants and Consultants | BE IN A POSITION OF STRENGTH
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“It’s not how much money you make
but how much money you keep,
how hard it works for you,
and how many generations you keep it for”
~ Robert Kiyosaki
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Disclosure
Please remember that past performance may not be indicative of future results. Different types of
investments involve varying degrees of risk, and there can be no assurance that the future performance
of any specific investment, investment strategy, or product (including the investments and/or
investment strategies recommended or undertaken by Withum Wealth Management (WWM), or any
non-investment related content, made reference to directly or indirectly in this newsletter will be
profitable, equal any corresponding indicated historical performance level(s), be suitable for your
portfolio or individual situation, or prove successful. Due to various factors, including changing market
conditions and/or applicable laws, the content may no longer be reflective of current opinions or
positions. Moreover, you should not assume that any discussion or information contained in this
newsletter serves as the receipt of, or as a substitute for, personalized investment advice from WWM.
Please remember to contact WWM in writing, if there are any changes in your personal/financial
situation or investment objectives for the purpose of reviewing/evaluating/revising our previous
recommendations and/or services. WWM is neither a law firm nor a certified public accounting firm and
no portion of the newsletter content should be construed as legal or accounting advice. A copy of the
WWM current written disclosure statement discussing our advisory services and fees is available for
review upon request.
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COVID-19 Issues &
Current Trends
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Residency
Concepts and
Enforcement
Issues
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Where New Yorkers Moved to Escape
Coronavirus
Mail forwarding
requests from
NYC in March:
56,000
Mail forwarding
requests from
NYC in April:
81,000
Number of
requests are
more than
double the year
prior
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The Tax Man Knows Where You Live
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Should I Stay or Should I Go?
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Determining Residency
• The states possess and exercise the power to tax their residents’
personal income, regardless of its source
• They are constitutionally restrained from taxing nonresidents’
personal income, except insofar as it is derived from sources within
the state
• The determination of a taxpayer’s residence is therefore a crucial
factor in delimiting the extent of a taxpayer’s personal income tax
liability
• Although the state statutes vary in their definition of “resident,” most
of the states rely on one or more of the following factors, either
individually or in combination with one another, in determining
whether a taxpayer is a resident of the state:
• (1) domicile in the state;
• (2) presence in the state for other than a temporary or transitory purpose;
• (3) presence in the state for a specified period; and
• (4) maintenance of a permanent place of abode in the state.
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New York Definition(s) of Residency
New York defines a resident as an individual who
may be a resident of New York state for personal
income tax purposes, and taxable as a resident,
even though such individual would not be
deemed a resident for other purposes.
• An individual will be considered a New York resident if he or
she meets one of two tests:
– if the individual is domiciled in New York, or
– the individual maintains a permanent place of abode in New York
and, in the aggregate, spends more than 183 days of the taxable
year in New York
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Florida Definition(s) of Residency
• Florida has no individual income tax, so no comparable income
tax definitions of “residency”
• Homestead Exemption Definition (Florida Statutes, Chapter
222, HOMESTEAD AND EXEMPTIONS: Method Of Setting Apart
Homestead And Exemptions)
• 222.17 Manifesting and evidencing domicile in Florida
– Any person who shall have established a domicile in this state may manifest
and evidence the same by filing in the office of the clerk of the circuit court for
the county in which the said person shall reside, a sworn statement showing
that he or she resides in and maintains a place of abode in that county which
he or she recognizes and intends to maintain as his or her permanent home.
– Any person who shall have established a domicile in the State of Florida, but
who shall maintain another place or places of abode in some other state or
states, may manifest and evidence his or her domicile in this state by filing in
the office of the clerk of the circuit court for the county in which he or she
resides, a sworn statement that his or her place of abode in Florida constitutes
his or her predominant and principal home, and that he or she intends to
continue it permanently as such
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Florida Declaration of Domicile
• Pursuant to Florida Statute §222.17, many would-be
Florida residents file a Declaration of Domicile with
the Florida county they intend to reside in
• The statute states that a person can show intent to
maintain a Florida residence as a permanent home by
filing a sworn Declaration of Domicile with the clerk of
the circuit court
• The application is available online at any of the district
courts or at the County Recorder's Office of the
respective intended County
• Note: Upon audit, the State of New York seeks to
obtain a copy of the filed Declaration with the County
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Sample Lee County, FL
Declaration of Domicile
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Compared to Other States
Property Tax Definition (Florida Statutes, Chapter 196, TAXATION AND FINANCE)
• Property Tax; homestead exemption - 196.015 Permanent residency
• Intention to establish a permanent residence in this state is a factual determination to be made, in the first instance, by the
property appraiser. Although any one factor is not conclusive of the establishment or nonestablishment of permanent
residence, the following are relevant factors that may be considered by the property appraiser in making his or her
determination as to the intent of a person claiming a homestead exemption to establish a permanent residence in this state:
(1) A formal declaration of domicile by the applicant recorded in the public records of the
county in which the exemption is being sought.
(2) Evidence of the location where the applicant’s dependent children are registered for school.
(3) The place of employment of the applicant.
(4) The previous permanent residency by the applicant in a state other than Florida or in another country
and the date non-Florida residency was terminated.
(5) Proof of voter registration in this state with the voter information card address of the applicant, or
other official correspondence from the supervisor of elections providing proof of voter registration,
matching the address of the physical location where the exemption is being sought.
(6) A valid Florida driver’s license issued under s. 322.18 or a valid Florida identification card issued
under s. 322.051 and evidence of relinquishment of driver’s licenses from any other states.
(7) Issuance of a Florida license tag on any motor vehicle owned by the applicant.
(8) The address as listed on federal income tax returns filed by the applicant.
(9) The location where the applicant’s bank statements and checking accounts are registered.
(10) Proof of payment for utilities at the property for which permanent residency is being claimed.
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Compared to Other States
New Jersey
• New Jersey defines a resident as an individual is
considered a resident of New Jersey if the person is
domiciled in New Jersey or maintains a permanent place
of abode in New Jersey and, in the aggregate, spends
more than 183 days of the taxable year in New Jersey.
Pennsylvania
• Pennsylvania defines a resident as an individual who is
domiciled in Pennsylvania and spend at least 30 days in
the state.
• Individuals who are not domiciled in Pennsylvania, but
spend over 183 days in the state, are presumed to be
residents.
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Compared to Other States
Georgia:
• Georgia defines a resident as an individual who:
• is a legal resident of Georgia on the last day of the year;
• resided in Georgia on a more or less regular or permanent basis during
the year (i.e., the individual was not in the state on a temporary or
transitory basis) and who resides in Georgia on the last day of the year;
• on the last day of the year has been residing within Georgia for 183 days
or part-days or longer, in the aggregate, of the immediately preceding
365 day period;
• having become a resident of Georgia, is deemed to continue to be a
resident of Georgia until the person shows to the satisfaction of the
commissioner that he has become a legal resident or domiciliary of
another state; and
• becomes a resident of Georgia for the first time during the year, but was
a resident for less than 183 days, is a resident only from the date of
becoming a resident on an apportionment basis. Ga. Code Ann. §48-7-
1(10).
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Other States
State Determining Residency
CA Over 9 months
CT Over 183 days
IL Prior year resident presumed to be a
resident if present in Illinois more
days than in any other state during
year
MI At least 183 days
GA 183 days or part-days or longer
OH Over 212 contact periods
Northeastern States
State Determining Residency
MA Over 183 days
MN At least 183 days
MD 183 days or more
NJ Over 183 days
NY Over 183 days
PA Over 183 days
Retirement States
State Determining Residency
AZ Over 9 months
FL N/A
NC Over 183 days
SC Not Applicable
TX N/A
Sample of Residency Requirements
Throughout the U.S.
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2020 State Individual Income Tax Rates
New Jersey: 1.40% to 8.97% (Over $5 Million - 10.75%)
New York: 4% to 8.82%. (Plus NYC up to 3.876%)
Pennsylvania: 3.07% flat rate
Georgia: 1% to 5.75%.
Florida: No Income Tax
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2020 State Estate Tax Rates
New Jersey: No Estate Tax
New York: 3.06% to 16%.
Pennsylvania: No Estate Tax
Georgia: No Estate Tax
Florida: No Estate Tax
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2020 State Inheritance Tax Rates
New Jersey: New Jersey imposes inheritance tax on the transfer of real
or personal property valued at more than $500 at graduated rates on
individuals based on their relationship to the decedent
0 – 16%
Pennsylvania: In Pennsylvania, transfers from the decedent's estate will
be subject to a rate of tax based upon the relationship between the
decedent and the transferee (0% to 15%):
4.5% for transfers to direct descendants (lineal heirs)
12% for transfers to siblings
15% for transfers to other heirs
New York / Georgia / Florida: Does not impose inheritance tax
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Fundamentals of Residency Determination
(NY)
Ultimately, nearly all states determine residency
either via:
• Domicile
• Home
• Business
• Time
• Family
• Near & Dear Items
• Additional Factors
• OR Statutory Residency
• Minimum Number of Days in-state PLUS
• Permanent Place of Abode
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Domicile
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Domiciliary – A State of Mind
The place where the taxpayer has his/her
true, fixed, permanent home.
The principal place to which the taxpayer
intends to return whenever absent.
“Domicile”
Maintains no permanent place of abode in
the state and has permanent place of abode.
elsewhere and spends 30 days or less in the
state
Foreign country exception.
Two circumstances when a
domiciliary is NOT a resident of the
state:
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Domicile Defined
Under the terms of the NESTOA agreement, domicile is
determined by applying the following primary factors:
Number
Size
Value
Nature & Use
Historical
Evidence examined:
Diary
Living patterns
3rd party documentation
Considerable items:
Pets
Jewelry
Art; Photos
Pattern of employment:
Involvement w/ in-state vs. out-of-state trade
Investments in in-state business
Continued employment in-state
Continued investment in-state
Evidence examined:
Children’s school of attendance
Location of immediate family
Home Time SpentNear & Dear ItemsActive Business Involvement
Family Connections
1 2 3
4
5
Weighted Equally
Reviewed If 1-4 Prove Inconclusive
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Additional Factors for Domicile
Additional Factors
• Mailing address for bills, financial records, etc.
• Safe deposit box rental
• Vehicle registrations
• Driver’s License
• Voter Registration
• Telephone service
• Citations in legal documents (wills, contracts, etc.)
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Domicile Checklist
Change car registration
Change driver’s license
Change voter’s registration
Religious affiliations, such as: churches,
synagogue’s, etc.
Moving of personal items
Insurance policies
File for homestead exemption, if
applicable
Social affiliations, such as: country clubs,
dining clubs, etc.
Execute new bank accounts and
brokerage accounts
Parking
Exemption
Fishing License
Co-op Letter
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Evaluation of Domicile Factors
• “The fact of the matter is individuals
do not have to eliminate all their
contracts with New York to be
determined to be nonresidents.”
• “It must never appear that the auditor
is only looking for residual New York
presence to justify requesting
additional information.”
• “An individual who has not maintained
a diary should not be told ‘if you can’t
prove exactly where you were every
day I would hold it as a New York day.”
Secondary Domicile Factors:
• Many taxpayers have been told and
led to believe that a change in these
secondary factors will indicate a
change in domicile
• Secondary factors are merely
“window dressing” and “bonus
points.” They do not carry enough
weight to change domicile status.
Very Subjective
Determination
As much weight lies in the
presentation to the auditor
What you should do:
Remind auditors of the guidelines
frequently!
FALSE!!
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In the Matter of Gregory Blatt, DTA No.
826504 (2/2/17)
ALJ rules that taxpayer changed his domicile from NY to
Texas in 2009 and 2010.
Near and Dear Items: Rescue dog moved
Home: NYC apartment owned; Dallas apartment
leased; Hamptons house.
Time: a few more days in TX vs. NY days; Summers in
the Hamptons
Active Business Involvement: CEO of Match in TX, but
former GC to IAC in NYC.
Family: recent break- up with NY girlfriend, friends in
Dallas.
EMPLOYMENT OPPORTUNITIES DICTATE TAXPAYER’S
INTENT
CONTEMPORANEOUS EMAILS = TESTIMONY
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Matter of Stephen C. Patrick,
DTA No 82838-826839, June 15, 2017
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The Drama of Domicile
ALJ rules that taxpayer changed his domicile
despite significant days in NY and apartment in
NY.
Home: Apartment in NYC and apartment in Paris.
Time: 163 days in NY in 2011 and 183 days in NY
in 2012.
Active Business Involvement: Retired but board
meetings and audit committee in NY.
Family: Marriage to second wife in Paris
TESTIMONY PROVES INTENT!
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Everyone is an Expert On a Florida Golf
Course
Taxpayers must be told (repeatedly) that
making a Florida declaration of domicile
will not make them a nonresident of New
York.
Taxpayers must be reminded that buying
an apartment in Florida by itself, will not
change their domicile.
If the taxpayer has a New York City
resident parking exemption:
SURRENDER IT.
Audits Reveal Your
Wealth Status
Matter of Ingle, NYS Division of Tax
Appeals
(Oct. 14, 2010)
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Statutory
Residency
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Domicile vs. Statutory Residence
The principal distinction between domicile and
statutory residence is that domicile requires both
physical presence in the state and the intent to make
that state one’s home
Statutory residence requires only physical presence
with some permanency, as defined by statute
Accordingly, taxpayers who intend to return to their
homes elsewhere, and thus are domiciled in other
states, may nevertheless be residents of the states in
which they are currently living because of their
substantial connections with the state
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Statutory Residency Factors
The factors that generally determine statutory
residency apart from domicile—presence in the
state for more than a temporary purpose or for a
specific length of time and maintenance of a
permanent abode in the state—overlap with
some of the factors that determine whether a
taxpayer is domiciled in the state, but they can
provide an independent basis for finding that a
taxpayer is a state resident.
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Why Residency Matters
Residents Non-Residents
Are taxed on 100% of your
worldwide taxable income
Worldwide income
includes EVERYTHING
Are taxed only on the
income earned in the
jurisdiction
Income Sourced to a state
includes:
• Services performed in that state
• Earnings from business entities
operating in that state
• Interest, dividends and capital
gains earned as a result of the
“business” operations in that
state
• Certain intangible incomeEstate taxes
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General Residency Rules (NY, NJ)
The term “resident individual,” as
defined by the New York State and New
Jersey tax law, includes:
• All persons domiciled in that state
• Any individual (other than an individual
in active service in the Armed Forces of
the United States) who is not domiciled
in that state, but who maintains a
permanent place of residence for
substantially all of the taxable year in
that state and spends in aggregate more
than 183 days of the taxable year in that
state.
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Statutory Residency
Taxpayer
Maintains a permanent place of
abode in the state
AND Spends more than 183 days in
the state
Matter of Robertson, NYS Tax
Appeals
Tribunal (Sept. 23, 2010)
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Maintains a Permanent Place of Abode
Defined
Maintain:
Is broadly defined:
Contributions to the place of
abode need not be in the form of
$$$. The taxpayer can provide
help with cleaning, cooking, and
groceries.
Problem Areas:
Former spouse
Friend’s apartment
Children’s apt. paid for by
taxpayers
Permanent: Place of Abode:
Must contain cooking
and bathing facilities
Problem area = hotels
The permanency
requirement gives rise to
two key exceptions under
the statutory residence
rules:
1. Taxpayer is present in the state
for the accomplishment of a
particular purpose
2. 11 month “rule:”
PPA must be maintained for
“substantially all” of the year
House, cooperative,
rental apartment, or
condo
Can be summer/winter
vacation home
Must have the keys
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The Day Count
The day count is a mathematical test
What is a “day” in the state?
For purposes of the statutory residency test, any part of a day in
New York counts as a day
Ten minutes in the state can count as a day
Working days constitute a different test for New York State
purposes
Two Exceptions
Travel exceptions
Medical recuperation
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What Constitutes a “Day”?
Zannetti v. NYS Tax Appeals Tribunal, 05/07/2015
• Spending more than 183 days in New York and having
a permanent place of abode qualifies you as a New
York resident under state’s income tax laws
• The regulations provide that, with certain exceptions,
presence within New York State for any part of a
calendar day (even 5 minutes) constitutes a day spent
within New York State
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Tom Hanks Plans His Time in New York
Carefully
By October 10th of 2013, Tom Hanks had
spent roughly 149 days in New York
between rehearsing for and appearing in
the Broadway play, “Lucky Guy.” Before
the end of 2013, Hanks had to return to
the city for the opening of his film,
“Captain Phillips” on October 10, and
again in December for another film he
was starring in, “Saving Mr. Banks.”
So, Hanks had to ration the days he spent
in NYC before midnight of December
31st, by ducking out early from the
premier festivities surrounding Captain
Phillips.
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John Gaied v. NY DTF
The NYS Tax Appeals Court Case was decided
on 12/27/12. Gaied was found to be a statutory
resident during 2001-2003.
He owned the NY home his elderly parents
lived in.
The telephone and utilities were under his
name at the apartment and he paid those
bills.
He had unfettered access to the apartment
and he occasionally slept there. He did not
live there.
He lived in NJ, but he worked in NY
everyday which means he satisfied the (more
than) 183 day rule.
He was a registered voter in New York.
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Gaied Case Details
Gaied ALJ agreed with the Department
Supreme Court agreed with Tribunal with dissents.
Appeals Court again for State with dissents.
2/18/14, the New York State Court of Appeals (the
state’s highest court) rules for Gaied, sort of (Case
remanded).
Tribunal I was
for the taxpayer
Tribunal II
reversed and
caused chaos
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Implications of the Gaied Case
Ownership by itself does
not, by itself create
residency
Application in other
parent cases
For a person to be taxed as a
statutory resident in NY, that
person must have a
residential interest in New
York living quarters
Application for vacation
home in Hamptons,
Catskills, Adirondacks for
New York City source
families
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Keeping Track of Your Travels with
Technology
Tax Day App
• Tracks and records your time spent in a state by using your cell phone’s GPS
• Additionally includes residency tax rules for all 50 states
• www.taxday.com
TaxBird App
• Utilizes location services on your phone to keep track of the number of days that you’ve spent in each
state
• www.taxbird.com
Tracking Days App
• Effortless day counting for non-residents and frequent travelers
• www.trackingdays.com
Monaeo
• Shows you exactly how many days you have spent in each of your watchlist locations and how many
days are left before you cross the threshold limit
• www.monaeo.com
Spot Marks the Tax
• A low power and secure location tracker to determine your residency for tax purposes
• www.spotmarksthetax.com
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Cell Phone Records – Reliability
How accurate and reliable are the cell phone
records?
● Cell phone records could be helpful
● Records vary based on telephone company
● Records are not always accurate
● The records do not track Call Forwarding or Wi-Fi calling
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Cell Phone Records – Type and Accessibility
Type and Accessibility of data depends on
carrier:
○ Verizon: Voice only; City, State location;
CDMA system may cause false positives;
DTF can get logs without taxpayer
notification
○ AT&T: Voice, SMS and Data; Highly specific
location; GSM system, less false positives
than Verizon; need taxpayer authorization
to obtain records
○ Others: Usually only keep records for two
years; requires court-ordered subpoena
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Cell Phone Records – Reliability
Multiple Connectivity Factors
○ Tower Height
○ Tower Location
○ Time of Day
○ User’s Location
○ Physical Obstructions
Cell phones connect to the strongest tower
not the closest tower; this can result in false
positives
○ Be particularly wary of false positives in
NJ/NY and CT/NY border cases
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Income Allocation
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Income Allocation
Taxpayers with more than one employer
• Separate allocation for each employer.
Salespersons
• Proportion that the volume of business transacted in
state bears to the total volume of business
transacted everywhere.
Allocation of income from a business
• Allocation must be on fair and equitable basis in
accordance with approved methods of accounting.
Generally this means follow the business allocation
percentage.
Matter of Tosti, NYS Tax Appeals Tribunal (May 12,
2011)
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Income Allocation
A nonresident taxpayer is given the opportunity to allocate income,
reporting to New York State only that income actually generated in New
York. In addition, the nonresident need only report to New York income
from intangibles which is attributable to a business, trade or profession
carried on in the state.
Thus, significant benefits may be derived from filing as a nonresident.
Employees
• Allocate based on the proportion of total compensation for services rendered
which the total number of days worked in New York State bears to the total
number of days worked both within and without New York State.
Convenience of Employee
• Trap for the unwary. May result in a taxpayer who performs little or no work in
New York allocating 100% of the related wages to New York.
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Income Allocations Allowed by
Other Jurisdictions
A jurisdiction may allow income to be allocated
when it is earned partly inside and partly outside
the state.
For example, wages and compensation may be
allocated using a ratio of days worked in the state
over days worked everywhere.
Since the allocation of time worked in the state
reduces the wage income taxed by the other
jurisdiction, it must be taken into consideration
when determining the income actually taxed by
the other jurisdiction.
Business (partnerships & S corporations) allocate
or apportion income.
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Nonresident and
Part-Year Resident
Page 1- IT-203
NYS Nonresident Income Tax Return
- Form IT-203, Page 1
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NJ Nonresident Income Tax Return
- Form NJ-1040NR, Page 1
Nonresident
Page 1- NJ-1040NR
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NYS Nonresident Income Tax Return
- Form IT-203-B
Form: IT-203-B
Nonresident and Part-Year
Resident Income Allocation and
College Tuition Itemized Deduction
Worksheet
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NYS Nonresident Income Tax Return
- Form IT-203-F
Form: IT-203-F
Multi-Year Allocation Form
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NYS Resident
Income Tax Return
IT-201: Page 1
NYS Resident Income Tax Return
- Form IT-201, Page 1
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Form: IT–360.1
Change of City Resident
Status
NYS Resident Income Tax Return
- Form IT-360.1, Change of City Status
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Nonresident Audit
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withum.com
Untangling the Residency Web
What’s the Purpose of the
Nonresident Audit?
NYS Audit Guidelines
“To verify the correctness of
return filed”
“Barry’s Audit Guidelines”
To intrude on the taxpayer’s life
and to raise as much money as
possible
OR
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The Audit: Three Key Issues
In any NYS/NYC Personal Income Tax (PIT)
or Residency Audit, the 3 key issues are:
Nonresident
Income
Allocation
Domicile
Statutory
Residency
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The Day Count – Audit Tips
Clients with any type of permanent place of abode in
the state should maintain a contemporaneous diary
with third party documentation such as:
Credit card receipts
EZ Pass records
Telephone records
Records related to travel
Business expense reports
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Income Allocation Audit Tips
Part Days = OK
• Unlike the statutory residency test, income
allocation may be based on a partial day.
Convenience of the Employee Test
• Requires careful planning
• A worker who never sets foot in the state can end
up with 100% allocation and a double tax
Keep a Contemporaneous Diary
Golf Days (may) count
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1. Review estate plan before changing
residency.
2. “I never slept in the apartment.”
3. Inadequate records – always prepare
for the audit, review all records.
4. Keep separate counts for husband and
wife; keep separate day counts for
work and pleasure.
5. Always answer questions and
schedules on IT-203 and IT-203B.
6. Fill out mailing and permanent
addresses on tax return.
7. Work with agent, not against.
8. Keep contemporaneous records.
9. Watch travels carefully; avoid the
whipsaw effect.
10. Domicile changes are usually a “creepy
effect.”
11. Usage by one person: credit card, EX-
Pass and phone.
12. File separate state tax returns, in certain
circumstances.
13. Beware of the state residency tax
examinations.
Top Thirteen Audit Tips & Traps
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SALT Implications
of
Telecommunicating
Employees
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Impact of Telecommunicating Employees
Income tax nexus (i.e., filing requirement)
Sales/use tax nexus
Income tax apportionment (i.e., Cost of
Performance sourcing and/or Payroll Factor rules)
Withholding payroll tax
• Employment tax wage sourcing
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Withholding on Nonresident Employees
Most states source employee wages for payroll
withholding purposes to the state where the
employee performs the services
Certain states with enacted laws that require non-
resident wages to be sourced to the office of the
state where the employee is assigned. (e.g.
Convenience of Employer rule)
May result in a tax withholding requirement in the
office state, regardless if the employee is
telecommuting from home and working in another
state.
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Convenience of Employer Rule (NY)
Where the wages of telecommuting employees
continue to be sourced to the employee’s primary
office location, unless the work performed
outside the state is for the necessity of the
employer.
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“Employer Necessity” Test
Under new guidance, telecommuter must prove
two elements
• Telecommuting days are “normal” work days
• Telecommuter’s home office is a “bona fide employer
office”
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Normal Work Day
“A normal work day means any day that the
taxpayer performed the usual duties of his or her
job. For this purpose, responding to occasional
phone calls or emails, reading professional
journals or being available if needed does not
constitute performing the usual duties of his or
her job.”
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Bona Fide Employer Office
“In order for an office to be considered a bona
fide employer office, the office must meet either:
• The primary factor, or
• At least 4 of the secondary factors and 3 of the other
factors.”
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Primary Factor
“The home office contains or is near specialized
facilities. If the employee’s duties require the use
of special facilities that cannot be made available
at the employer’s place of business, but those
facilities are available at or near the employee’s
home, then the home office will meet this
factor….”
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Secondary Factors
Four of the following factors:
The employer requires the employee to work from home as a condition of
employment
The employer has a bona fide business purpose for establishing an office in the
precise location where the employee lives
The employee performs some of the core duties of his job at his home office
The employee meets or deals with clients, patients or customers on a regular
and continuous basis at his home office
The employer does not provide the employee with designated office space or
other regular work accommodations at one of its regular places of business
The employer reimburses the employee for substantially all of the expenses
related to the home office; or The employer pays the employee rent for the
home office space and furnishes or reimburses the employee for substantially
all the supplies and equipment the employee uses.
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Other Factors
Three of the following factors:
The employer maintains a separate telephone line and a separate phone listing for the telecommuter’s
home office
The employee’s home office address and phone number are listed on the company’s letterhead or business
cards
The employee uses a specific area of his home, separate from the living area, exclusively for work
The employer’s business is selling products at wholesale or retail, and the employee keeps an inventory of
the products or product samples at home to use for work
Business records of the employer are stored at the employee’s home office
The home office location has a sign indicating that it is a place of business of the employer
The employer’s advertising material shows the employee’s home office as one of the employer’s places of
business
The home office is covered by a business insurance policy or by a business rider to the employee’s
homeowner insurance policy
The employee is entitled to and actually claims a deduction for home office expenses for federal income
tax purposes
The employee is not an officer of the company
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COVID-19 State Responses
PA - Temporarily due to the COVID-19 pandemic, the
department would not consider that as a change to the
sourcing of the employee’s compensation.
NJ - During the temporary period of the COVID-19 pandemic,
wage income will continue to be sourced as determined by the
employer in accordance with the employer’s jurisdiction.
MA - All compensation received for personal services performed
by a non-resident who was an employee engaged in performing
such services in Massachusetts is performing such services from
a location outside Massachusetts due solely to the
Massachusetts COVID-19 state of emergency, will continue to
be treated as Massachusetts source income subject to personal
income tax
And others…
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Barry H. Horowitz
CPA, MST, SALT Partner &
Practice Leader
212.829.3211
bhorowitz@withum.com
Jason Rosenberg
CPA, CGMA, EA, MST, SALT
Senior Manager
347.215.0115
jrosenberg@withum.com
Zhoudi Tang
CPA, MST, SALT Manager
212.829.3237
ztang@withum.com
Monica Jalife, CFP®, MBA
Principal, Wealth Advisory,
Withum Wealth Management
212.652.3250
mjalife@withumwealth.com
Elena Ladygina, CFP®,
Wealth Advisory,
Withum Wealth Management
212.652.3251
eladygina@withumwealth.com
Karen Tenenbaum, ESQ., LL.M.,
CPA
Tax Attorney – Tax Dispute
Resolution, Tenenbaum Law
631.465.5000
ktenenbaum@litaxattorney.com
Marisa Friedrich, ESQ.
Tax Attorney – Tax Dispute
Resolution, Tenenbaum Law
631.465.5000
mfriedrich@litaxattorney.com