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Old 09-27-2021, 06:46 PM
  #11  
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Originally Posted by Dubh View Post
Best financial move we ever made.
Gave myself a $12k/year raise by leaving that dump.

You get what you deserve if you continue to stay there.
Sadly many of the people fleeing California are the very people responsible for what its become. They then move to a better state and take their poor voting habits with them.
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Old 09-29-2021, 10:44 PM
  #12  
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Originally Posted by rickair7777 View Post

The bottom line with CA (and other similar deep blue states) is that you're home free as long as you're actually complying with the law. You can establish *legit* residence elsewhere, keep your house in CA and spend 5 months and 29 days in-state every year* and they can't touch you (federal rules, which they can't over-ride).
Correct me if I’m wrong, but by the nature of this profession, one isn’t likely to spend more than 182 days at their original or new residence anyway, and can easily prove such by CC statements every time one gets coffee in the terminal.

(Assuming one doesn’t live in base bidding reserve)
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Old 10-01-2021, 07:34 AM
  #13  
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Originally Posted by Bahamasflyer View Post
Correct me if I’m wrong, but by the nature of this profession, one isn’t likely to spend more than 182 days at their original or new residence anyway, and can easily prove such by CC statements every time one gets coffee in the terminal.

(Assuming one doesn’t live in base bidding reserve)
Depends. Technically any day that you set foot in the state of avoidance counts. Also it *might* count as a day if you're in the middle of a trip and fly into said state. Regional pilots who do most of their actual flying within a certain state can end up paying taxes there even if resident in another state (common in the turboprop days).

But as far as your residence state goes... you do NOT have to spend six months there, you only have to AVOID reaching six months in the avoidance state. As long as you've reasonably established residence (local address, DL, car registration, library card, tax filing) then there's rarely any minimum annual time requirement, although a couple states might have a very minimal requirement. Back in the day when Alaska paid a dividend to residents some military people would buy an acre and set up residency to collect their annual dividend. IIRC they had to visit their property once per year, typically a fishing trip and check in at the county court house to document their presence.

But again generalities, get professional advice for the states in question (some have bilateral agreements which can alter the rules).
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Old 10-01-2021, 09:15 AM
  #14  
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I am a California native so it will always be called “home” for me but I left the state a few years ago and never looked back. No longer paying 9% state income tax and enjoy fuel prices $1-$1.50/gal cheaper. But as the title suggests, it can be difficult emotionally to uproot and leave friends, family & familiarity.

Originally Posted by Stryker172 View Post
Sadly many of the people fleeing California are the very people responsible for what its become. They then move to a better state and take their poor voting habits with them.
This seems to be all too true. The financial allure of a red state is enough to get them to move but then they screw it up by bringing with them the Komifornia “ideology”.
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Old 11-11-2021, 10:51 AM
  #15  
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Proposition 19 passed recently in California. It requires that “inherited” homes that are NOT used as principal residences, second homes & rentals, be reassessed at “market value” when transferred.

The majority of voters who approved it MUST be renters. Why would any future property owner want to increase their own inherited property tax liabilities, in some cases, as much as15X higher, than what their parents have been paying thanks to Proposition 13 from 1978?

As a result, a multitude transferred
ownership, of their homes, to their children; before the proposition went into effect. That only bought them some time. The grandchildren will reap the costs when they die.

Good luck to all those heirs who now have to write big fat checks, every year, to the state of California.

Last edited by Hawkerdriver1; 11-11-2021 at 11:18 AM.
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Old 01-14-2022, 08:45 AM
  #16  
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Originally Posted by Stryker172 View Post
Sadly many of the people fleeing California are the very people responsible for what its become. They then move to a better state and take their poor voting habits with them.
This is exactly the problem we're experiencing in Colorado. In all reality, the Colorado I moved to over 40 years ago no longer exists. High cost of living, long lines, rude people, infrastructure issues, homeless issues, entitlement attitude. The California immigrants should feel right at home. I'm fairly certain I'll be fleeing Colorado before I retire.
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Old 01-16-2022, 04:25 AM
  #17  
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Originally Posted by Hawkerdriver1 View Post
Proposition 19 passed recently in California. It requires that “inherited” homes that are NOT used as principal residences, second homes & rentals, be reassessed at “market value” when transferred.

The majority of voters who approved it MUST be renters. Why would any future property owner want to increase their own inherited property tax liabilities, in some cases, as much as15X higher, than what their parents have been paying thanks to Proposition 13 from 1978?

As a result, a multitude transferred
ownership, of their homes, to their children; before the proposition went into effect. That only bought them some time. The grandchildren will reap the costs when they die.

Good luck to all those heirs who now have to write big fat checks, every year, to the state of California.
When the state keeps voting for MORE government spending, the money has to come from somewhere.
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Old 01-16-2022, 08:06 AM
  #18  
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Originally Posted by Profane Kahuna View Post
When the state keeps voting for MORE government spending, the money has to come from somewhere.

Fundamentally I'm OK with *some* limits on inheritance, but of course the devil is in the details.

Our national success is based in large part on meritocracy, and for that reason it's good to reset the economic baseline at least a little with each generation.

In the case of prop 19 is it really fair that inherited property used for rental income gets a permanent multi-generational tax break? Someone who did not benefit from inheritance and is trying to get into the rental property business would have to keep compete while significantly handicapped by the gov? Property value appreciation, and thus tax base, in CA tends to be VERY significant over time.

I'm good with prop 13, ie a family homestead can stay in the family. But that doesn't need to extend to income properties.


Otherwise you end up like Europe, with the same families running things for 1,000 years.
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Old 01-16-2022, 09:16 AM
  #19  
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Originally Posted by Hawkerdriver1 View Post
Proposition 19 passed recently in California. It requires that “inherited” homes that are NOT used as principal residences, second homes & rentals, be reassessed at “market value” when transferred.

The majority of voters who approved it MUST be renters. Why would any future property owner want to increase their own inherited property tax liabilities, in some cases, as much as15X higher, than what their parents have been paying thanks to Proposition 13 from 1978?

As a result, a multitude transferred ownership, of their homes, to their children; before the proposition went into effect. That only bought them some time. The grandchildren will reap the costs when they die.

Good luck to all those heirs who now have to write big fat checks, every year, to the state of California.
My heart really bleeds for all of those kids who inherited entire homes from their parents

Their parents' EXTRA homes, I might add.
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Old 01-16-2022, 10:00 AM
  #20  
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Originally Posted by jaxsurf View Post
My heart really bleeds for all of those kids who inherited entire homes from their parents

Their parents' EXTRA homes, I might add.
Yes, I too am consumed with jealousy that a family that worked, saved, invested and then had the audacity to hand down that wealth to the next generation isn't being punished enough for their success by the tax code-they need the entire weight of the State to come down upon them like the furious winds of an angry god.
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