Taxes

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Hi, Can anyone run down the ways that owning a multi-family house plays out re taxes? -how do you calculate which parts of construction are for the rentals and which are for your own unit, for somthing like a boiler, the exterior, roof, etc? -do you have to pay taxes on any profit you make…

Has anyone had their 421a tax abatement application (filed July 2007) rejected from HPD? I was told mine was, but the consulting company (HFC)has done nothing to cure the original defects in the app. The HPD insists that I am not the “client” but rather the developer is and HFC. I cannot get a copy…

Hi, I’ve been looking at the possibility of converting an all commercial building into mixed use and was wondering if the taxes would change with the use? Both buildings I’m looking at are in R-5 zones with a commercial overlay. Also, how annoying will it be to convert them? It seems pretty straightforward, but I…

For years I have used my family accountants outside of NYC, but now that I am proud building owner with tenants I believe I would rather use an accountant more knowledgeable about NYC taxes. Do any other property owners have a good one in Brooklyn or the city they would like to recommend. Thank you…