You can leverage your primary residence to live anywhere…
\nFor less than 6 months and not owe income tax.<\/p>\n
This is a re-uploaded version –
\nI recently made some edits and cut down the video length.<\/p>\n
00:00 – Intro
\n00:47 – Establishing Residency
\n02:28 – Leveraging State Residence
\n04:29 – Time Allocation
\n08:00 – Holes in the plan
\n11:30 – Words of Grace \ud83d\ude4f\ud83c\udffd<\/p>\n
Disclosure: I’m not a professional tax advisor.
\nThis entire video is for entertainment purposes, only.
\n———————–<\/p>\n
Here’s how this plan would work, “hypothetically”:<\/p>\n
First, you establish residency in a tax-free state. That means you live there for over ~6 months. <\/p>\n
Visit your primary residence at least one month out of the year to keep the \u201cresidency police\u201d chill. <\/p>\n
So minimum 1 month in a TX, FL, or maybe NV. Now, allocate the rest of your time to be anywhere else for less than ~6 months in a given place. <\/p>\n
NEW YORKERS, just an idea:
\n1 Month in TX or FL
\n4.5 Months in New Jersey (You can visit NY, but counts as a day)
\n5 months in NY (Leaves about a month open for visiting)
\n0.5 month vacation
\nEquals a full year, no new residency established.<\/p>\n
For Californians:
\n5.5 Months in Nevada (You can visit Cali, but counts as a day)
\n5 months in CAL (Leaves about a month open for visiting)
\n0.5 month vacation
\nEquals a full year, no new residency established.<\/p>\n
Hope you get the plan, pretty simple in terms of concept – Don\u2019t stay anywhere for more than ~ 6 months (with exception of your primary residence)<\/p>\n
Feel free to study this on an international level, it\u2019s totally possible.. but probably better suited for income earners maybe above 200k or in a more passive situation. The reason being is that the plan has a cost, which has to be justified by savings v.s. the avoided taxes, better productivity, better lifestyle, happiness, ect\u2026<\/p>\n
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\u25ba Donate if you want \ud83e\uddde\u200d\u2642\ufe0f<\/p>\n