One of the most creative ways to earn money in the 21st century involves gig work. For many of these workers, their daily paycheck requires the use of a motor vehicle. It's important for gig workers to make sure that they update their auto insurance to adequately...
A New York family foundation is generally a non-profit organization funded by donors to support public or private charities. These endowments are tax-deductible. Because these organizations may primarily consist of related family members, the IRS carefully audits the...
Planning your estate in New York can be a complex process. You can use several methods to give beneficiaries access to your funds. The trick is to find one that will sidestep your need to go to court. One of the best arrangements you can use will be joint tenancy....
Being an estate executor in New York requires an enormous amount of responsibility. Executors take care of the financial responsibilities involved with the estate. Before an executor can handle these responsibilities, they must obtain a letter of testamentary. Roles...
In New York, insurance companies use complex models to estimate the frequency of car accidents and have found that the average driver files a car accident claim about once every 18 years. Certain factors play into a driver's chances of avoiding accidents, and the...
For philanthropic-minded investors hoping to minimize taxes while generating income for themselves or their heirs in New York, a charitable remainder trust (CRT) is an effective planning tool. A CRT is a type of trust that allows the grantor to transfer assets into...
The state levies a tax on estates exceeding a specific fair market value in New York. Every estate is also subject to federal taxes, with a more generous exemption. The estate tax is sometimes confused with the inheritance tax, but the two are separate and affect...
Making a will is an important step in ensuring that your assets and possessions are distributed according to your wishes after you pass away. While it may not be the most pleasant thing to think about, creating a will in New York can provide peace of mind and ensure...
Crowdfunding has helped many people in New York raise money online. This money can be used for charities, businesses, and as gifts. Many are surprised to learn that money raised through crowdfunding might be taxable. When is crowdfunding money considered a gift? The...
Many people throughout New York take part in charitable giving. For instance, you might donate unwanted clothing to a local charity. You might also be someone who gives away millions each year to charitable organizations. Besides helping those in need and making you...