CPA-Led Tax Guidance for New York Professionals and Business Owners
New York tax obligations can become complicated quickly when business ownership, equity compensation, multiple states, real estate or international income is involved. Baccus Consulting provides CPA-led tax planning and compliance for individuals and closely held businesses that need more than routine return preparation.
We serve clients throughout New York through a secure virtual process, including New York City, Long Island, Westchester, the Hudson Valley, Albany and other Upstate communities.
- Federal, New York State and applicable New York City tax compliance
- Planning for business owners, equity compensation and multi-state income
- Direct guidance from a CPA advisor experienced with complex financial matters
Why New York Tax Matters Require Specialized Attention
New York applies its own income, residency and business-tax rules alongside the federal tax system. New York City residents and certain business owners may also face city-level taxes. When income crosses entity, state or national borders, the interaction among these rules can materially affect filing positions, estimated tax payments and planning decisions.
New York State and New York City income taxes
New York City residents pay city personal income tax in addition to New York State and federal income taxes. High-income individuals, business owners and employees with substantial bonuses or equity compensation may need coordinated projections across all applicable jurisdictions and not merely accurate annual filing.
New York Pass-Through Entity Tax
Eligible partnerships and S corporations may elect New York’s Pass-Through Entity Tax, or PTET. The entity pays qualifying New York tax and eligible owners may claim a corresponding personal income tax credit. Whether the election is beneficial depends on the owners, entity income, filing jurisdictions, deadlines and other facts. We help business owners evaluate the election as part of a properly scoped tax-planning engagement.
Residency, domicile and remote-work rules
Moving into or out of New York does not always produce a simple part-year return. Domicile, statutory residency, days spent in New York and the location of income-producing activities may all matter. New York’s sourcing rules, including its convenience-of-the-employer rule in applicable cases, can also affect employees who work remotely outside the state.
Income earned across multiple states
New York residents generally report income from all sources, while nonresidents may have New York filing obligations for New York-source income. Commuters, remote workers, business owners, partners and individuals who relocate during the year may require allocation, apportionment and resident-credit calculations across multiple jurisdictions.
Complex New York Tax Matters We Address
Our work is especially suited to situations where several tax or financial issues intersect. Depending on the engagement, we assist with matters such as:
- New York and New Jersey commuter filings and resident tax credits
- Residency and domicile questions after moving into or out of New York
- RSU, ISO, NSO and ESPP income involving New York and other jurisdictions
- S corporation and partnership owners evaluating New York PTET
- New York City residents operating sole proprietorships or closely held businesses
- Rental-property income, property sales and investments spanning multiple states
- Foreign income, foreign financial accounts and expatriate reporting for taxpayers with New York ties
- Previously filed returns requiring a targeted professional review or correction
The appropriate tax treatment depends on the underlying facts and records. Technical conclusions, return review and recommendations are provided only under an engagement agreement.
Have a complex New York tax situation?
Tell us what you need help with. We will assess the likely scope and explain the appropriate next step.
Who We Serve in New York
High-Income Professionals
Executives, finance professionals, attorneys, physicians, consultants and other professionals managing bonuses, investment income, deferred compensation, multiple income sources or filing obligations in more than one state.
Business Owners and S Corporation Shareholders
Owners of S corporations, partnerships and LLCs who need coordinated guidance on business and personal tax filings, reasonable compensation, PTET, estimated taxes and the interaction between entity and owner-level reporting.
Employees With Equity Compensation
Employees and executives receiving RSUs, ISOs, NSOs or ESPP shares who need help understanding withholding, estimated-tax requirements, alternative minimum tax exposure, cost basis and multi-state allocation.
Read our Equity-Based Compensation Tax Guide.
Real Estate Investors
Property owners and investors managing rental income, depreciation, passive-activity limitations, property dispositions and state filing obligations connected with properties inside or outside New York.
U.S. Expatriates and Internationally Connected Taxpayers
U.S. citizens abroad, individuals returning to New York and taxpayers with foreign income or accounts who may have federal international reporting requirements together with New York residency or filing considerations.
Why Work With Baccus Consulting?
Integrated Tax and Financial Perspective
Baccus Consulting is led by Jamiu Bakare, CPA, EA, CFA. This combination of tax, accounting, IRS representation and financial-analysis credentials supports a broader understanding of transactions and financial decisions that may have tax consequences.
CPA-Led, Personalized Service
We do not treat complex returns as production-line work. Engagements are individually scoped, and clients work with a CPA advisor who seeks to understand the relevant facts, entities, jurisdictions and objectives.
Secure Virtual Delivery Across New York
Our virtual model allows us to serve clients throughout New York without requiring an office visit. Documents are exchanged through a secure client portal, and meetings are conducted remotely.
Transparent Starting Prices
Individual tax preparation starts at $650. Multi-state individual returns start at $1,200, comprehensive individual tax services start at $1,500, and business tax returns start at $2,000. Final pricing reflects the forms, jurisdictions, entities, transactions, records and analysis required.
Review Baccus Consulting’s pricing and service tiers.
Trusted by Individuals, Professionals and Business Owners
How the Engagement Process Works
- Describe your situation. Submit a brief inquiry identifying the service you need and the principal issues involved.
- Attend a discovery consultation. We discuss your needs, timing and apparent complexity to determine whether Baccus Consulting is the right fit. The discovery consultation does not include technical analysis or document review.
- Review the proposed scope. If we agree to proceed, you receive an engagement agreement describing the services, responsibilities and fee.
- Complete secure onboarding. You upload the required records through our secure client portal.
- Receive the agreed service. We prepare and review the return or advisory deliverable and discuss relevant matters with you before completion or filing.
For a broader overview of our filing, planning and consultation services, visit our main Tax service page.
Frequently Asked Questions
Do you serve clients throughout New York or only New York City?
We serve individuals and businesses throughout New York State through a secure virtual process. This includes New York City, Long Island, Westchester, the Hudson Valley, Albany and other Upstate communities.
Can you prepare both federal and New York tax returns?
Yes. Our engagements may include federal, New York State and applicable New York City filings. We also prepare multi-state returns when included in the engagement scope.
Can you help if I moved into or out of New York?
Yes. We assist with part-year and nonresident filings and can evaluate residency, income allocation and state-credit considerations when included in the engagement. Complex domicile determinations or multi-year matters may require an expanded scope.
Do you advise New York business owners about PTET?
Yes. We can evaluate the New York PTET election for eligible S corporations and partnerships. The analysis considers the entity, owners, income, filing jurisdictions, deadlines and other relevant facts.
Do you work with RSUs, stock options and employee stock plans?
Yes. We assist with RSUs, ISOs, NSOs and ESPPs. Depending on scope, our work may include tax projections, withholding analysis, estimated-tax planning, alternative minimum tax analysis, cost-basis review and multi-state allocation.
What happens during the discovery consultation?
The discovery consultation helps us understand your needs, timing and apparent complexity and determine the appropriate engagement scope. Technical tax advice, document review, return analysis and formal recommendations begin only after an engagement agreement is in place.
Discuss Your New York Tax Needs
Tell us about your situation. We will contact you to discuss the apparent scope, timing and appropriate next step.
