If you haven’t heard, California is passing some pretty insane tax laws come January 1st, so I’ve had a few people ask me why I don’t change my state residence to avoid some of the potential storms brewing.
The answer is simple:
They consider me a tax resident by “if Kyle were to return to the USA, where would he be most likely to go?”
And the answer is always California.
I’ve looked into it. I have my company in Wyoming, and bank accounts there. Even if I rent an apartment there and live there for year, because my entire family is in California, they would still argue that I would return to California. Hence, unless I renounce my US citizenship (not something to be taken lightly), I really, truly cannot.
Plus, to be frank, I don’t really want to spend a year in Wyoming.
Anyways, this was all talked about inside the “Actually Abroad” chat, so head on over to the link below and join up if this stuff interests you.