The Living Force
It has been described in the YouTube as 'a sinking ship'. Perhaps another 'hit' for the C's? They did say it was going to fall into the ocean...
We are out soon..Especially so if the psycho governor stays at his post.
California is famous for leaving no stone unturned in its quest to collect taxes the state believes it’s owed by former residents, but the Golden State is becoming even more aggressive in pursuing taxpayers that leave the state, accountants say.
“Any move you’re making that involves taxes regarding California, you need to be careful and strategic in making those moves,” Diane Kennedy, an accountant with US TaxAid Services in Las Vegas, told me Thursday.
Kennedy, with more than three decades of experience working with the wealthy on their taxes, recently sent an email alert to clients that several states are more enthusiastic about collecting taxes from former residents.
“Over the past month, one of my most frequently asked questions has to do with what it takes to move out of a higher-tax state for a lower-tax state,” Kennedy told clients. “The most aggressive tax state is California, as far as wanting to make sure you can’t escape their net.”
Kennedy said one factor that California is considering in determining Golden State residency for those with homes here and in another state is: Which one is more valuable? Given California real estate prices, it's a test that's weighted in California’s favor.
“I advise my clients that if they keep a California home, it increases the risk of examination,” said Paul Bleeg, a partner with the accounting firm EisnerAmper in San Francisco. “I don’t advise my clients to sell their properties, however, I do talk about the risk of keeping California residential properties.”
Those risk factors rise if the California home is left vacant or is used by family members rather than turning it into a rental property that is occupied by a tenant who is not related to the owner, he said.
Kennedy’s advice to clients is more clear cut: “Sell your California property and buy a home in your new state.”
Plus, given the difference between California’s sky-high sale prices and relatively lower rental rates, former residents will likely do better investing that money in real estate in their new home state.
Kennedy has seen clients run into the cross-hairs of California’s taxing authority when they go to Texas and rent a place, while keeping their California home.
“They’re not quite sure whether Texas is right for them, so they’re going to rent for a while,” Kennedy said. “California has come after them saying, ‘You haven’t made a decision to move to Texas because you’re just renting, whereas you have this more expensive house in California.’”
Former California residents who continue to generate income in the state, such as having a California rental property, must also file a nonresident California tax return. The return includes a questionnaire that asks about the taxpayer’s change of residency, such as how many days are spent in California, and if they continue to own California real estate.
“These questions should be answered fully and truthfully,” Bleeg advised.
Along those same lines, Kennedy said one of her clients learned the hard way the cost and headaches of ignoring a tax notice from the California Franchise Tax Board.
“She didn’t realize California could reach all the way across the country and take money out of her Florida bank account,” Kennedy said.
Kennedy said California tax collectors are also monitoring social media usage, especially by celebrities and the wealthy, to ensure that those who say they've left the state aren’t posting frequently from California.
Bleeg said he saw many of his California clients leave in 2020. Asked whether she is seeing her clients leave California, Kennedy said, “More than I’ve ever seen before.”
Kennedy said there’s also a change in who is leaving the Golden State among her clients as more tech employees are moving to Austin and elsewhere as their companies adopt remote work or move their headquarters out of the Bay Area entirely.
"The people that I see leaving are probably making $350,000-plus a year,” Kennedy said. “I have a number of clients making over a million a year, and they’re the ones that were the first to leave.”
I don’t have much time (me: I hope she’s right): My entire Democratic Majority is at risk. >>
-- Trump vowed to run for President if Republicans win the House
-- Republicans know they only need to flip FIVE seats to win
-- And they just launched a $5 MILLION ad campaign targeting Democrats in the toughest seats.
I cannot overstate the importance of what I’m about to ask you: The ONLY thing standing in the way of another Trump Presidency is our ability to HOLD the House and PROTECT these Democrats. Which is why I’m launching an emergency response to expose every one of Republicans’ lies about my Democrats. I need 938 gifts. Can I count on your $15? >> (me: wording makes it sounds like they’re holed up in safe houses)
I’ll be honest (me: not in your life, Nance): Our Majority is razor-thin. (me: through your own hubris)
A mere handful of votes could cost us the House and launch Trump’s Presidential run.
Which is why I need you to step up in this moment more than I ever have before.
I refuse to let Republicans smear us and end our Majority, Andrew. I will not allow Republicans and their dangerous one-term President to spread atrocious lies and barge back into power. So I’m asking. Will you rush $15 before it’s too late? >>
The recall campaigning is all but over, and voters will go to the polls Tuesday to decide whether to oust Gavin Newsom — and, if so, who should become governor of California.
Polls show the recall effort is struggling. But some Republicans have made unproven claims of voter fraud. As The Times’ Anita Chabria and Maura Dolan reported last week, it’s an extension of the conspiracy theories that the alt-right spread after Donald Trump lost the presidency to Joe Biden last year.
“Some recall campaign leaders fear that mistrust could backfire on their cause by discouraging conservatives from casting ballots. The short timeline of the special election, wildfires and the pandemic have left some counties with fewer options for in-person polling places, making it imperative for the movement to recall Newsom to turn out its voters by any means possible. But fraud rumors are especially prevalent around mail-in ballots,” they wrote.
Some far-right “poll watchers” also are working in parts of California during the recall election, according to an investigation by The Times’ Paige St. John.
“Election watch campaigns are running full force as California nears the Tuesday close of the gubernatorial recall election, only slightly toned down from the suspicion and accusations that dogged the November presidential contest as they collect what they say is fodder for future court challenges and political campaigns,” St. John reported. “In some cases, election chiefs are pushing back, debunking false rumors they might have ignored in the past or shutting down voter signature challenges they say were abused — marking new battle lines in the nation’s political misinformation war.”
And some expect legal challenges, even if the results are not close.
The California recall began with an air of chaos and uncertainty. But it appears to be ending as a two-person race: Gavin Newsom fighting to avoid recall, and Larry Elder trying to overcome the candidates vying to replace Newsom if voters oust him.
The two men have come to dominate the race: Elder blaming Newsom for myriad problems facing California, and Newsom pointing to Elder’s extreme conservative views and warning what would happen if the Republican becomes governor.