It's the state tax that will drive me away. Top end at 13% year starts to really make a difference, and I'm lucky enough (unlucky enough?) that I'm on the road most of the time anyway. It doesn't really matter where I really live, since I'm on a airplane more than I'm home. I'll be relocating to a no-tax state with a hub airport. Pretty limited options, but Cheyenne, Dallas, and Houston (ugh, fuck that) are the choices. If I didn't care about travel, Nevada side of Lake Tahoe would be good. Or parts of Florida, but would need a second place to stay the summer.
Centennial is great, we have an office there. Colorado is probably the second best weather/lifestyle next to southern CA. You'd probably like Colorado Springs too.
You work for yourself right? Pay yourself minimum wage. Put all company profits into no risk stocks instead of a bank account. Get a low interest loan secured off the value of your stocks. Buy more stock with part of that money. The rest is your spending money. Loans are not taxed as income. You can do this indefinitely. Whatever increases you get out of the stocks themselves are a bonus. The stocks are chiefly to be your source of credit and savings at the same time. Allowing you to access your wealth without having to sell the stocks triggering taxable income. Nobody that is in business for themselves is supposed to pay taxes. The system is designed to tax slaves and foreigners who don't know the rules. That is why a guy like Trump or any other person ins his shoes would rather you not see his tax records. They will show that taxes are an entirely optional part of printing money.
Nope, I have a side hustle real estate business, but I have a day job too and have to pay income taxes. Most of the income comes from my corporate America job. Kiting like you describe is certainly possible, but it's a good way to end up broke in the blink of an eye due to being over leveraged.
this was the first year my state taxes exceeded the feds accountant said it was CA's way of scooping up the tax break i got from the fed level nothing you can do about property taxes but holy shit batman going to hold on to the property but think i'll base out of a place like OKC a few weeks a month hope to get back to traveling the world a little more and if you're on a plane a lot who cares where the main bed is? although there's these things called dogs i can't really live without...
The Trump tax policy reduces how much you can deduct from State taxes, which in turn will put pressure on high tax states to lower taxes, or lose taxpayers to lower tax states. At least that's what I think it was designed to do. Should be interesting to see how it plays out.
The new tax bill specifically screws people in the east coast and west coast, mainly NY and CA.....by design I might add. Pretty petty if you ask me.
its already happening en masse have watched so many good contractors of all sorts bail over the last 20 years now i'm just seeing good neighbors put up the for sale sign and boogie just renting a moving van is more expensive leaving this state than coming in gas taxes, sales taxes, unsecured property taxes on and on next to impossible to start any kind of business here since you have to pay everything up front just isn't worth it at some point
And the trade deal screws the people in the midwest so maybe it all balances out in the end? Yet most of those redneck farmers and trailer trash still support the president. They don't bitch about the president screwing them over. They understand that they will have to take the hit for the good of the country. And they know that as the heart of the land it is their duty to come to the aid of their brothers on the coastal port cities. These are the same rubes that keep voting for the republicans that always forget about them once they get elected. Coastal cities are obviously full of intelligent billeted people of various degrees. We would not vote for a party that promotes laws that hurt our community. We are not those simpletons in middle america. We are complex karls not simple rubes. We are smarter than that. We are better than them. Am I my brothers keeper? Hell no.... fuck the heartland. Now gimme the rock. WEST COAST NIGGAZ!!!
Yeah, I saw something about NY's tax receipts being way down because people are fleeing the state. Many are keeping the same jobs but moving to PA, which has much looser tax laws. I'm not a big fan of tax deductions and loopholes. Well, shit, I think taxation is theft so I don't like any taxes. But if the government is going to tax, it should be a simple flat tax with no exceptions. I don't want the government to have the power to do social engineering with the tax code.
They do social engineering with every single thing. That is kind of the point of what they were created to do. City builders are the original engineers. The material construct is the model of the social construct they endeavor to create. Taxation is finders keepers and king of the hill. Engineers build the civilization and make it grow like a shining hill. But its actually a slave built electroplated pyramid of gold. They found the spot and killed the natives and stole somebodies water just for you! Then they built up a market and put in some shops and developed the land with highways and roads and even guys with guns to protect it all! We built a family here. We got a good thing here. Do you want to be one of us. Welcome to the famiglia! You can take advantage of all the good things we made for you. And once a year we will ask you kindly to pay your dues like all the other citizens. Or you can stay home and jackoff all day playing video games or live like a caveman shitting in the woods. Just dont hang around or you might get shot or taken to jail for being an eyesore.
Eventually is a very long time. You use your money to buy safe stocks. You use the loan money to buy riskier stocks or get in early on rising new companies. And you buy tons of insurance on everything. In fact the insurance could end up being a bigger overall profit if things go bad. Its kind of like fantasy basketball.
