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Old 01-05-2018, 10:34 PM
 
500 posts, read 841,098 times
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Some states will tax if spent only 1 day there while generating income in whatever way. Having no paper trail in those is a no brainer, and CA is known to be the most tax greedy.
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Old 01-06-2018, 12:16 AM
 
33,313 posts, read 12,491,270 times
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Quote:
Originally Posted by MtnSurfer View Post
Are they able to avoid CA income tax as a part-time resident? It seems like CA's Franchise Tax Board (FTB) is trying to get some money out of snowbirds. On another investment forum I found this CA snowbird's advice:

"When we bought our snowbird home in California 15 years ago, we were advised to be very careful about the number of days we stay in California, not to have a bank account here, keep our cars titled and licensed in our home state, and have our utility and tax bills mailed to our home address in Washington. At that time we were told that the California Franchise Tax Board is very aggressive in pursuing income tax on those snowbirds who stay more than six months in California. We took the advice to heart, and stay about 5 1/2 months, and have our home titled under a revocable living trust that is recorded in both California and Washington (it is strictly for the California house)." -https://www.bogleheads.org/forum/viewtopic.php?t=131950
A friend of mine lives in a Bay Area town (not Piedmont), and has a second house in Nevada. My friend's mother owns a house in Piedmont but, with her daughter's permission, uses her daughter's second house (where the mother spends quite a bit of time) as her official residence. The mother has lived off the income from a very, very large family trust for decades. The mother conducts her business pretty much as the person on the forum you quoted above does, except she also keeps track of how much time she spends in California DOWN TO THE MINUTE (her inbound trips are always by car) , so as to make certain to keep her total time spent in California to under 6 months per year.
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Old 01-08-2018, 06:52 PM
 
Location: Vancouver, WA
8,213 posts, read 16,686,935 times
Reputation: 9463
One of our neighbors who is very well off has a home on the Nevada side of Lake Tahoe, well several actually along with his homes in Monterey. He's in his mid 70s and still skis while living ~ 50% of the time in the Tahoe region. Apparently it has worked out very well for him. If you're going to live in Nevada part of the year, that's not a bad place to do it.
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