When an investor sells investment real estate, they face not just a single layer of taxation but several layers. That’s why Section 1031 is such a potent weapon. In total, taxpayers face up to four distinct layers of investment real estate tax. They come into play when taxpayer’s […]
The Medicare Tax – also referred to as the Net Investment Income Tax (NIIT), the Medicare Surtax and several other names – is a tax on certain investment income for domestic workers in the U.S. The Medicare Surtax comes from Section 1411 of the IRC; this section lays out the structure of the tax and provides all of the relevant terminology. In effect […]
As we mentioned earlier in our post about Apple’s repatriation tax, multinational corporate juggernauts often use creative – and sometimes ethically questionable – means to reduce their tax burden. Corporations such as Apple and Google often shift corporate funds between neighboring states for favorable tax treatment. Starbucks’ European tax controversy reveals that the company also engages […]
In the past, we’ve discussed how capital gain treatment of a given transaction (or series of transactions) depends on a variety of factors. In cases where there is uncertainty regarding the treatment of a transaction, courts will perform an independent analysis based on the particular facts of the case, but they will also give weight to established principles. Receiving […]
The New York tax system is truly one of the more complicated tax regimes in the country. With all of its various city and county level taxes, taxes are quite literally everywhere. There’s transfer taxes, income taxes, sin taxes, and general sales taxes. There are countless other taxes which New York residents have to be […]
Our great State of New York uses a wide variety of means to generate income. As we’ve seen, there’s state income taxes, sales taxes, specialized surtaxes, corporate taxes and others. Just when you thing the list couldn’t grow longer, there’s yet another tax to discuss. In this post, we discuss the New York Real Estate […]
Though we tend to focus on tax news and tax developments happening here in New York, it’s useful to look elsewhere. We occasionally take a peek at tax news from other parts of the country and around the globe. This isn’t just for entertainment purposes. Sometimes a development in one part of the country, or another part […]
As we’ve seen up close here on our blog, there are many, many different kinds of taxes. There are poll taxes, excise taxes, sales taxes, use taxes, income taxes, self-employment taxes, value added taxes – the list just keeps going and going. To raise revenue, states develop all sorts of different taxes to extract funds from populations. These taxes fall into […]
I had a wonderful experience with Mr. Callahan during my initial phone call. He fully understood my issues and provided me with helpful information on how to proceed with my tax issue. I am very appreciative of his time and expertise!
Erin
Mackay, you are a godsend. Thank you dearly for taking the time to go through in great detail options for our situation. You were patient, thorough and extremely helpful even after you knew we were unable at this time to pay for services. I wish other companies would follow your level of customer service.
I was in despair for years and now finally I have hope.
God bless,
Tiffanie
“I had a BIG problem with the IRS and wasn’t making any progress with them, even with my accountant’s help. Then I heard about Mackay, Caswell & Callahan. I’m here to tell you that ALL the good things about those tax attorneys are true. Joe Callahan got a $30,000 tax bill reduced to $200! Thanks Joe, I still can’t believe you pulled that off! Christmas came early this year!”
William Poole on Google
“Joe was very professional and put my mind at ease! Up to date information and easy to understand! I highly recommend this firm and will have them do all of my tax work! A+ attorney!”
Sheila Abrahams on Google
“Joe Callahan has been exactly what my growing business has needed for far too long. Joe has been invaluable in helping me navigate and sort through issues past and present to keep my dream of owning my own business alive. Thanks Joe looking forward to many years of having you in my corner.”
Bryan Edwards on Google
“Joe Callahan helped me out of a big mess. I also went to several other “tax specialists” and got no good answers. Very professional and efficient. I would highly recommend him for complex tax issues. I could have saved a lot of time and money had I used his office earlier on.”
JC on Yahoo
“Mr. Callahan was able to resolve my tax issue quickly. He was up to speed on all recent tax code changes and successfully resolved my issue based on this information. His retainer was very reasonable and I am highly satisfied with the outcome of his hard work.”
A Lawyers.com Consumer
You can contact us using this form day or night, 24 hours a day, 7 days a week, 365 days a year. You will hear back from one of our attorneys the same day or next day.
If you would like to speak with a team member immediately, we are available 24/7 via this form — or via phone toll-free from 6am – 8pm EST M-F at: 844 - MCC - 4TAX