Description

This program will address the application of residency tax rules to commuters, occasional visitors, and to full-time residents of the various states. It will also identify the rules most states use to determine if a taxpayer has “truly” changed their residence.

Changing your residence from a high-tax state (think NY, NJ & CA) to a low, or no-tax state (think FL) can dramatically reduce the amount of state taxes you have to pay. But high-tax states don’t let their residents go easily. If you continue to maintain any connection to the former residence (think snowbirds), the high-tax state may contest that you truly changed your residence. In this webinar, you will learn how states determine a taxpayer’s residency and how to make the states respect your residency change.

Highlights: 
• Statutory residence rules 
• How do you count a “day”? 
• Concrete steps necessary to change your domicile 
• Common traps for the unwary practitioner 
• Techniques used by auditors to identify and investigate residency cases

Learning Objectives

• Application of residence tax rules

• Identify the methods to effectively change one’s domicile to another state

• Review mechanical residency test

• Provide planning opportunities to minimize income and estate taxes