Because it’s worth it, according to Forbes. After decades of high taxes, things got worse in 2012, and then worse still in 2018. California can assess taxes no matter where you live, so those who want to avoid the aggressive California Franchise Tax Board should be sure to know the rules. Of course, billionaires don’t always care because they have the resources to protect money, or to easily pay any tax.
As the entertainment capital of the world, Los Angeles has unlimited restaurants, shopping and recreation venues. But do we have enough time and money to make it all worthwhile? How much money is left for fun after paying for expenses and taxes?
Most U.S. states have lower income taxes and lower costs of living than CA. These are among the top reasons why many Californians have been moving out of the state. Seven states have no income tax at all, and five states have no sales tax. Nevada and Arizona have been popular destinations for former Californians seeking lower taxes and lower costs of living. | VIDEO
Now that real estate markets a bit expensive and shrinking, many CA home owners are staying put or moving away. The wealthy always have a choice because they can afford any possibility.
Billionaires seem to always seem to find plenty of ways to get a break on their taxes. The average reader of the L.A. Loft Blog has a larger income, along with tremendous smarts. We want to readers to continue to grow and prosper no matter what, so here’s a link to billionaire Tilman Fertitta, star of CNBC’s Billion Dollar Buyer, revealing how he creates billions of dollars of value.
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