What is New York’s Pied-à-Terre Tax?
“Pied-à-terre” (French for “foot on the ground”) refers to non-primary residences used for occasional stays rather than a primary, year-round residence. On May 28, 2026, New York State Governor Kathy Hochul signed the Fiscal Year (FY) 2027 Budget, which included a pied-à-terre surcharge tax on qualifying non-primary residences in
On December 12, 2025, Governor Hochul signed the New York Electronic Wills Act into law, making New York one of at least fifteen states that will permit wills to be signed electronically when it takes effect on December 12, 2027. [1] Below is an overview of what the new law provides and what to keep
After a decedent’s death, fiduciaries face income tax decisions that directly affect how quickly assets become available, when tax payments come due, and what returns must be filed. Often, the most meaningful opportunities for tax savings, and the most common missteps, arise not during the planning phase, but during the administration itself. This article focuses
Each year, thousands of taxpayers relocate for warmer weather, lower taxes or new opportunities. However, failure to properly change domicile can cost these taxpayers a hefty and unexpected tax bill. In a recent New York Tax Appeals Tribunal case, In the Matter of the Petition of John J. Hoff and Kathleen Ocorr-Hoff, the court
On December 19, Governor Hochul vetoed legislation that would have amended the definition of certain terms contained within the New York LLC Transparency Act (NYLTA). The governor’s veto means the terms “beneficial owner,” “reporting company,” and “exempt company” will continue to mirror those found in the federal Corporate Transparency Act. As such, when the reporting
As the new year approaches, we present our annual year-end advisory for 2025. This edition highlights noteworthy estate and gift tax changes and outlines planning opportunities for year-end and beyond. We also take a moment to recognize some of our accomplishments in 2025 and provide our outlook for the new year.
Navigating the tax landscape during estate administration is like solving a complex puzzle with each piece representing opportunity and risk. One challenge is determining where key expenses can be deducted – on the estate tax return (Form 706) and/or the estate’s income tax return (Form 1041). Making this decision impacts the estate’s overall tax liability
A revocable trust is a flexible estate planning tool that allows you to manage and distribute your assets during your lifetime and after your death. You retain full control over the trust while you’re alive, with the ability to amend or revoke it at any time. Upon your death or incapacity, a successor trustee steps
