In recent years, the financial burden of police misconduct on New York City taxpayers has become increasingly evident. Since 2018, lawsuits related to NYPD misconduct have cost the city an astounding $548,047,141, with a significant portion of this expense—$114,586,723—incurred in just 2023 alone. This data analysis, put forth by the Legal Aid Society, highlights a pressing issue: the financial implications of police misconduct extend far beyond the courtroom and directly impact the city's budget and resources. The Real Price of Police Misconduct These numbers are not only…
New York residents may not know that tax avoidance is legal and tax evasion is illegal. Whether you pay taxes as an individual or a business owner, the Internal Revenue Code permits you to avoid paying some taxes by following specific practices. For instance, the tax code allows companies deductions to mitigate the cost of operating a business. You as an individual are also permitted to set up 401(k) plans for employees so that you can delay paying taxes until a future date. Tax avoidance loopholes exist…
With tax season in full swing, you and thousands of other New Yorkers likely are in the throes of preparing your tax returns. Or maybe you chose to hire an accountant or tax preparation service to figure out your taxes this year. Either way, you probably find the whole tax filing process to be more than a little stressful. What if you make a mistake? What if your preparer makes a mistake? Will the IRS come after you for tax evasion? The answers to those three questions…
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