New York Residency and Taxes in the COVID-19 Era
Since COVID-19 became part of our everyday lives earlier this year, many retirees and remote workers in New York have considered changing residency to offset their taxes. If you live and work in New York City and have or are planning on relocating, you might have some questions surrounding residency and taxes:
- What’s the difference between a domicile and statutory residency?
- What’s the “Leave and Land” rule? Does it apply to me?
- Do I still have to pay NYC income taxes if I’m working remotely?
- I’m a NY resident but spent more time in Florida this year. Do I change residency?
- What are my chances of being audited if I change residency?
On October 27th at 12 p.m., Wealthstream Advisors hosted an exclusive webinar in partnership with special guest Timothy Noonan, Esq., from the esteemed law firm Hodgson Russ. The webinar took a deep dive into New York City tax and residency issues, answering all these questions and more.
Tim leads his firm’s Tax Residency practice and has handled over 1,500 New York tax audit cases over the past 20 years. A leading authority on state tax issues, he speaks to audiences around the country an average of 20 times per year.
