Buying a home out of state to get away from CA taxes

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Just thinking of moving my primary residence to Nevada or somewhere else to avoid CA taxes, is it easy?

Can multiple people become partners and spread the cost out, for example 4 people buy into a home in another state, and we all move our primary residence to this house, is this possible? I work remote and so does my wife, the company has no idea where I am. At this point, I would put $100k into something to avoid State taxes and possibly the new Gas mileage tax. 4 peeps with $100k by a $400k house??? Heck, I am paying $20k a year in State income tax, and then add car registrations and such, it would pay off fast.
 
Curious too what others say. Tricky part is the loan - it would need to be a primary residence loan, but I'm not sure how that works and affects your existing loan (assuming you have one). Your employer will also need to be made aware of the address change assuming your get a W2. People using your new address prob just need to tell their employer?

Also - gas mileage tax - i think there's a lot of scare out there - it's my understanding they've only approved a study to take place, not to actually charge a mileage tax.
 
Sounds like a plan, Till CA gets your phone records and proves you were in the state 6 months + 1 day....guess what you get to pay CA taxes now....Cool thing is Burden of proof is on YOU not the state to prove you were not here......there are cameras EVERYWHERE and they can search for plates easily.
 
wesinls said:
Also - gas mileage tax - i think there's a lot of scare out there - it's my understanding they've only approved a study to take place, not to actually charge a mileage tax.
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It's a done deal....just same ole... "it's just a study" BS until they impose it. Gonna F a LOT of people...but there is no other way to pay for services for illegals without that and raising taxes in general.
 
You do know CA is still trying to make people pay taxes on their RETIREMENT if they worked in CA and earned the retirement benefits in CA.........crazy huh....
 
wesinls said:
Tricky part is the loan - it would need to be a primary residence loan, but I'm not sure how that works and affects your existing loan (assuming you have one).
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Who is to say that your current house won’t become a rental once you buy the new primary residence home?
 
Realbadlarry said:
Sounds like a plan, Till CA gets your phone records and proves you were in the state 6 months + 1 day....guess what you get to pay CA taxes now....Cool thing is Burden of proof is on YOU not the state to prove you were not here......there are cameras EVERYWHERE and they can search for plates easily.
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I spent a month in Colorado 2 years working, I had to file a taxes there as well, I actually saved money on Ca State tax.
 
wesinls said:
Curious too what others say. Tricky part is the loan - it would need to be a primary residence loan, but I'm not sure how that works and affects your existing loan (assuming you have one). Your employer will also need to be made aware of the address change assuming your get a W2. People using your new address prob just need to tell their employer?

Also - gas mileage tax - i think there's a lot of scare out there - it's my understanding they've only approved a study to take place, not to actually charge a mileage tax.
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I am not worried about the loan, my house is already paid for. W2 is easy as well, my sales territory is Nevada and AZ.

As for the Gas tax, haven't followed it hard, but I was told they would attach it to your Property Tax bill??? Who knows. I usually rent cars if I am putting a lot of miles on the road for work now, screw driving my personal car into the ground anymore.
 
Realbadlarry said:
You do know CA is still trying to make people pay taxes on their RETIREMENT if they worked in CA and earned the retirement benefits in CA.........crazy huh....
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I can't every see this happening, legally this would be tough.
 
Nevada is the best state to do this from everything that I have read on this subject, look into a NING Trust and keep your CA home.
 
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Assuming the 3 other mortgage holders are living in the home or on the property. I think that I would have a hard time living with 3 other people or families After my wife and I being empty nesters since 1995.
Even if they don’t pass the mileage gas tax, gas right now in Iowa is 1.89 gal.
 
Blue horse said:
Assuming the 3 other mortgage holders are living in the home or on the property. I think that I would have a hard time living with 3 other people or families After my wife and I being empty nesters since 1995.
Even if they don’t pass the mileage gas tax, gas right now in Iowa is 1.89 gal.
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It would have to be a cash purchase for sure, no reason to pull out a loan unless I do it by myself, but I would still come ahead. I am a couple years from retirement, so not looking for any debt, so it would have to be a cash purchase.

Moving away from family is not an option, so I am somewhat stuck here
 
On paper it passes the smell test, ask your Tax Guy though.
 
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