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Need a Hand?
Your Next Project Starts with Brownstoner
I didn’t report some pension income my first year in New York, not realizing I had to; got a letter pointing out my error and naming the readjusted refund; that was it.
CGar,
inspection is good idea. it’ll give you some insight into what major repairs might forthcoming (aka condo assessmt fees).
lechacal….the % that get taken to a judge or jury is miniscule. I’m talking about a mistake on aline item or a judgement call on a deduction, which, 99.99% of the time are resolved at an audit.
an inspection for a condo would only be the inside of the unit, right? —as former homowner and relatively new place a thorough inspection of that can do yourself.
As for condo bldg, what reserve funds do they escrow for, and what past work has been done because of developer problems, what are they planning on, any special assessments on the horizon?
LOL, lech.
Jinx, lechacal. DBNH.
i fking HATE mark ruffalo!!!
“Any person who willfully attempts in any manner to evade or defeat any tax imposed by this title or the payment thereof shall, in addition to other penalties provided by law, be guilty of a felony and, upon conviction thereof, shall be fined not more than $100,000 ($500,000 in the case of a corporation), or imprisoned not more than 5 years, or both, together with the costs of prosecution”
DIBS – a judge or jury will decide whether it was willful – just saying “whoops that was totally a mistake is NOT the end of the story.
No, rob. I once had an accountant who was also a lawyer. For 3 years he missed one category I had to pay. I thought he’d have to be responsible for interest & penalty but I’d’ve had to sue him to get that & it wasn’t at all certain I’d win so I just ate the (significant) costs.