Related Posts
Additional Posts in Consulting
Has anyone used Aaptiv to work out? Reviews?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Has anyone used Aaptiv to work out? Reviews?
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Download the Fishbowl app to unlock all discussions on Fishbowl.
Copy and paste embed code on your site
Send download link to your phone
OR
Scan your QR code to download
Fishbowl app on your mobile
I mean the consequence is tax fraud if you don’t live there lol
Chief
Where do you actually reside?
D1, I can reside in either but I imagine I would spend most of my time in California in 2022 and moving to Austin in 2023.
If I use my California address my RSU would be taxed at CA rates even in 2023 but if I put Texas I would only pay CA tax in 2022. SC1, I would still pay CA taxes for the time I am in CA.
Not sure if this is common practice.
Pro
SC1, my CPA told me it’s “majority” of time residence unless I can prove a relocation as a new resident. The way it was explained to me : if I own 2 properties in 2 different states, then it’s whichever state I physically spend more time at (50% + 1 day). If it’s 3 states or more, the same math applies. But to make it even more simple, it’s whichever state you have IDs and DLs (if you drive). Remember that most states also have a 30-90 day rule, where you have to change state residencies within that time frame of moving, which includes IDs and DLs plus vehicle registrations. There are rare circumstances like full time students or military orders where people don’t have to change state residencies if they plan on going back to home state at the end of their temporary stay.
Where do you live? Do you have an actual address in Texas where you live? If so, definitely start your employment (and RSU allotment) there. As others have said, though, if you really live in CA, you are opening yourself to tax fraud, which can be very ugly.
Tax fraud comes with interest and penalties too. And the irs often takes several years to do an audit. Just be careful, I learned the hard way and paid interest back to 2017 this year (totally different scenario though).