Domicile and Residency Planning
I have homes in more than one state and I am not certain where I am supposed to pay income taxes.
State and local governments have special rules for determining whether you are a resident or a domiciliary of the state and locality. Generally the tax burden is greater on residents than on nonresidents but even nonresidents may need to pay income taxes. A person that is not certain where they are a resident or where they are domiciled is potentially at risk for owing taxes and penalties and interest to a state and local tax authority. We can help you through this minefield. If you are a "snowbird" (and you know if you are) you are at special risk as it appears that many state and local tax agencies have declared open hunting season on snowbirds.
Call us today at 212-232-2410 or contact us online to discuss your options.