Home is where the heart is…. (and hopefully a lower tax bracket)
For those of you living in the New York City area you are probably aware of the significant number of folks who have relocated to vacation homes and those of family and friends over the last few months. We are receiving an increasing number of inquiries as to the tax consequences of such a move. The attached is our overall guidance to determining one’s status. The answer is not simple and New York State/City have aggressively protected their tax base over the last few years and we don’t expect that to change any time soon. Everyone’s situation is different. If you need to talk to us we are a phone call away.
LHF Partners & Staff