Originally Posted by
sailingfun
You might take a look at the recent IRS statements on the prepay. Looks like they have ruled it illegal accept in some very limited circumstances. I was going to do the same thing but did not qualify.
In addition, that state 'charity' deduction isn't going to fly.
Californians and other high tax states are going to start paying their fair share of federal taxes. If they want a bloated, expensive state government, that's their choice. Going forward, their federal tax deduction for that bloat will be limited.
Why should someone who lives in CA pay lower federal taxes on the same amount of wages than someone lives in NV and doesn't have a bunch of state tax writeoffs? Californians aren't paying their fair share of federal taxes.