My ideal is to live in California. However, I also want to have the flexibility to travel. I plan to be away for at least 3 months per year from my primary residence. With that in mind, it seems advantageous to have a home base in Bellevue or Seattle and save on taxes. Is moving to Washington state worth it to save on taxes long term?
OP, Considered TX as an option?
Not really interested in TX.
I am thinking of relocating to TX from CA for tax reasons as well. Anything in particular due to which TX is not on your list? Just trying to understand if there's something I am overlooking in my thought process.
There’s a new LTC tax in Seattle. Look into that first before making any decision
It’s 0.58%
Genuinely curious. What is the maximum days you can not be located at your primary residence? If working remote?
Moving to a higher tax state like wa isn't worth it no. Wa doesn't have income tax so they have unlimited property taxes, high sales tax, sin tax, and starting next year a cap gains tax.
Lol cap gains only on profit over 400K so effectively 0 tax there, and income tax and col for housing is enormously worse in bay area
Not all of us get paid in 🍌
Lol maybe not but The number of ppl making more than 400K in capital gains, (not RSU income) is extremely little.
From how much I save in taxes alone I am able to buy three townhouses that I rent out The quality of life difference from the cash flow and equity is absolutely insane Bought a summer home in FL with a private pool and hot tub for the winters and a cabin by a lake with boats and a jet ski for the summers Life is so much better
Yes it’s worth it if you can leave WA for a few months in the winter. If you have RSUs granted in CA, you will still have to pay some prorated CA tax on it though.
This
What does it mean “RSUs granted in CA”. So if I live in Washington, but I decide to stay in CA for the month of December. And I have RSUs granted to me in December. Does that mean I have to pay some taxes to CA?
I moved to Seattle for the same reasons, it’s only been sometime since I moved but I like it here. Rain seems exaggerated but people here are cold
We’ve had very few warm (60s) & sunny days this October. I don’t think it’s exaggerated. The weather is a deal breaker for many.
It’s only been a couple of weeks for me and I came in the worst season to see if I can take it.I like it so far .. let’s see 🤞
It's math. Figure it out there first
? Obviously it’s better in terms of the math OP is asking us on a quality of life level