Originally Posted by
Revoltingest
I avoid NYC if at all possible.
I'm just telling you how accounting & tax law actually work.
Ask your own CPA to verify.
If you don't know what's going on in NYC don't generalize, and don't tell people they're wrong without a grasp of the situation. Where you live, and the tax laws you're used to dealing with, differ from state to state, country to country, etc. You have no idea what it's like in our neck of the woods. Especially since my cpa despises the situation as it stands,...and if you would have read the article I linked to, you might have noticed that you're wrong.