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:
I can’t.
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.
Here’s where: