![]() ![]() And, although the prospect of double taxation remains, in some cases employees may receive tax credit from their state of residence (for example, in New Jersey). But because the rule remains the same, employers in this situation should expect to continue withholding New York income taxes for their telecommuting employees working outside of the state because of the pandemic. The Octoguidance restates the same bona fide employer office rule and offers no special rules or exceptions relating to the COVID-19 pandemic, which drove numerous New York-based employees to work outside the state (with many still continuing to do so). Thus, for tax purposes, an employee working from his or her home office would be considered to be working in New York. Although an employee’s home office could meet the eligibility factors laid out in the bulletin, generally it would not qualify as a bona fide employer office outside of New York. In applying this test, the Department of Taxation and Finance uses factors from a 2006 bulletin to determine if the employee’s telecommuting location is an established office of the employer (a “ bona fide office of the employer”) – that is whether the employee’s assigned or primary work location is at an established office or other bona fide place of business of the employer inside or outside of new York State. In short: employees telecommuting because of COVID-19 will generally still be required to pay New York taxes on income they earn.īy way of background, for telecommuters, New York applies the “convenience of the employee/necessity of the employer” test to determine if an out-of-state telecommuting employee working for an employer with its principal place of business in New York would also be subject to New York income taxes. And you make that as hard as possible.The New York Department of Taxation and Finance has finally provided guidance regarding telecommuting tax liability for nonresident employees working outside of New York because of the COVID-19 pandemic. I need to import data from my TD Ameritrade trust account, and print out a K-1. Because TT Business is a ripoff anyway, and I only need it to generate a single page K-1. If I am going to be doing that, and it appears that I will, year after year, I might as well buy Tax Act and save some $$. And yet you have a flawless import module in TT Business. I had to enter 80 stock transactions for a trust using TT Premier. NEXT YEAR I WILL NOT BE BUYING TT Business. HAVE THE VP of DEV explain this to me like I'm not a software tester.Īnd, while we are at it, have him explain to me why after all these many years, TT Business still has no import module to import transactions from TD Ameritrade, eTrade, Schwab, Fidelity. ![]() Yet, TT regularly updates both versions multiple times through the tax season. So, to be clear, you pay more for the CD version, likely due to packaging and shipping, but they fail to let you know that it does not import crypto transactions from Coinbase?! But even so, I would have bought the online version this year, WHICH WAS CHEAPER by $10, if I had known this. Lucky for me, we use our own spreadsheet, finely tuned year after year. What could be so different about the desktop version than the online one? I have traded crypto for years, and this is the first I have heard of this inherent deficiency.
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