The Real Cost of Doing Business in NYC
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Most people around the country don’t understand, have no idea what the cost is of doing business in New York. Most people don’t even recognize that you have to pay taxes, city taxes on top of federal taxes, on top of state taxes in New York. Those are the costs as well. The New York City, well, department of anything is the mafia, essentially. Run just like the mafia. Don Finucci, Godfather 2 reference again, Don Finucci walking around and wetting his beak.
Let give you a couple examples of this. accounting arm, D’Onofrio Incorporated, to have offices in New York City, no longer. Let me tell you why. They send various different regulators around to collect fines. Again, they collect fines for nothing, literally for nothing. They went into the accounting office and said that they didn’t have
their proper degrees and certifications on the wall. They did, they did. And in fact, we knew it was coming. We actually took pictures of this with a newspaper to prove when they were up there. But then they make any difference because when they came around to the accounting firm, they did it during tax season. Now the only way, the only way you can make these fines go away is you have to go down in person.
to dispute them and they say, hey, we’ll just bang somebody out because it’s tax season, they’re not gonna have the time and they’ll just pay the fine and then, hey, that’s it. We’ll collect our money because they don’t wanna deal with it. Well, yeah, that’s how it operates. Again, my client, contractor building apartments in Astoria, New York, which is very close to Manhattan, one stop on the subway train. Yeah, guys coming in all the time.
Oh yeah, your little makeshift office made out of plywood is a fire hazard. You’re to have to put sheetrock on it or guess what, we’re going to find you. You actually have to price in. What contractors have to do? They have to price in over $100,000, this is my client friend does, developer, for every project that he does. Set aside over $100,000, assuming that they’re just going to come down and find something.
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That’s how they operate. It is a mafia. Why do business in a place like that? I don’t know. I don’t know. makes no sense to me. And what you’re going to see happen is a continued exodus out of the city. Watchdogonwallstreet.com.
