It might sound surprising, but there are valid reasons to say no to an inheritance, including tax planning, debt avoidance, family agreements, and maintaining eligibility for government benefits. However, renouncing must be done properly—within 9 months, in writing, and filed with the court. Missed the deadline? You may still petition the Surrogate’s Court for approval.

The BOI filing requirements have been restored, and the new deadline is March 21, 2025. FinCEN is reviewing options to modify deadlines and reduce burdens for lower-risk entities, but penalties for late filings remain steep—nearly $600 per day! Don’t risk noncompliance—stay informed and take action.

Exciting updates in New York real estate law are strengthening protections for homeowners, particularly against deed theft and estate planning challenges. Here’s what’s changing: Deed Theft is Now Grand Larceny; More Time to Fight Back; New Transfer on Death (TOD) Deed. These changes aim to safeguard homeownership and make estate planning more accessible.

Big changes are coming for New York retailers! The state has amended its workplace violence prevention law, which was originally set to require panic buttons that directly dial 9-1-1. Now, instead of calling emergency services, these buttons will alert supervisors or security personnel. Employers are still required to establish a workplace violence prevention policy and provide training to covered employees. Some provisions take effect in March 2025—are you ready?

Have you named a guardian for your children? If not, the courts could make that choice for you—possibly selecting someone you wouldn’t have picked. In the worst case, your children could even face temporary foster care.

The new year brings key changes for New Jersey employers! From pay transparency laws to remote worker guidance, and new data protection regulations, staying compliant is more important than ever.

Did you know you can claim a tax deduction for your home office if it's used exclusively for business? There are two ways to do this—Simplified and Regular—but the regular method may offer bigger savings. Not sure which method is right for you? Learn more about how to calculate and maximize your home office tax deductions.

From enhanced protections for freelance workers to paid prenatal and lactation leave, New York is rolling out significant workplace changes. Employers must also prepare for the Clean Slate Act and expanded discrimination protections under the Equal Rights Amendment. Plus, NYC’s Workers’ Bill of Rights is now in effect!

A joint account can be a simple and efficient way to transfer funds without the delays of probate! When one account holder passes, ownership often transfers automatically to the surviving co-owner(s), ensuring immediate access to funds.

New employment laws are rolling out in New York and New Jersey that will impact businesses and employees alike. Here's a quick rundown. Employers, now is the time to review policies, update payroll systems, and ensure compliance.

Your marital status as of December 31, 2024, determines your tax filing options for the entire year. A change in marital status impacts filing requirements, deductions, and eligibility for credits.

Thinking about starting a business or taking your current one to the next level? Here are 5 compelling reasons to form an LLC or corporation!