Live in NYC and Avoid NYC Tax?
Serious question. How could you do that? I live in Manhattan but don't want to pay the NYC Tax. I heard you can set-up a home address outside of the city and get taxed less. My boy lives in long island and I'm planning to do just that. Any other ideas? Anything else to consider? Thanks.
Yes you can do exactly that, but it’s literally tax fraud. So up to you if the risk is worth the reward
That is literally tax fraud and NYC is very good at catching that type of thing. The fines are in the tens of thousands, they will have an ironclad case, and you will have a fraud charge following you around forever, They can so easily pull your credit cards and prove you were in NYC at least 6 months a year and not living in LI, would take them all of 10 minutes.
It's 3% just pay it and move on, or live outside the city.
If it was as easy as you thought it was, everyone would be doing that. I know a lot of people who live outside of NYC or NYS for tax purposes and it's not easy. You'd have to download and use a tracker app like TaxBird or something that uses your location services to prove where you are for how many days.
Hello, IRS? Right here
Some big developer out of NYC has avoided taxes for years. He moved to DC, now he’s hiding in some FL hotel.
I'm usually the first to criticize Mr Trump, but in all fairness to him, he hasn't actually lived in NYC for a while, so why should he pay taxes here? I mean, I find it reprehensible for wealthy people who made their money in NYC to then flee somewhere else for a minor tax savings, but that applies to a lot more people than Trump.
Also, I'd hardly characterize the man as a "big developer out of NYC". He hasn't done anything in NYC in decades. I wouldn't characterize Harry Helmsley as a big NYC developer these days, either.
If you get audited, they'll ask for train tickets / easy pass records that show you actually went home each night to Long Island.
Unless it's your primary residence this would be considered tax fraud.
Yo IRS look at the OP here! Tax fraud!!
Dignissimos molestiae commodi saepe temporibus consequatur. Est perferendis praesentium nobis consectetur. Quia quam fugit voluptate placeat ut. Et praesentium totam amet.
Tempora laborum ipsa aut et rerum. Ex est vitae minus molestias repellat sed animi. At qui eius quia et. Aperiam et similique tempore explicabo repellat qui vel quia.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...