AG Racine suing Michael Saylor and MicroStrategy

[Anonymous]

Anonymous wrote:

Anonymous wrote:Sounds like a lot of anxious posters are faking FL residency. Lots of teeth gnashing.

Nah, anyone worth any significant amount of money with multiple residencies that includes areas like FL, TX, etc. know the rules before hand and have their accountants document everything in case it comes down to something like this. A complete waste of taxpayers' time going after Saylor, because you can bet your behind he has his accountants already doing all of this work all year long to show he has primary residence in FL. He won't owe DC squat. It's a progressive political theater. Meanwhile, so many shootings in DC and juvenile crime is outta control.

The issue here is Racine's political ambitions and it's good politics in progressive circles to go after mean old rich people and it's bad politics to go after criminals especially if they're black.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Sounds like a lot of anxious posters are faking FL residency. Lots of teeth gnashing.

Nah, anyone worth any significant amount of money with multiple residencies that includes areas like FL, TX, etc. know the rules before hand and have their accountants document everything in case it comes down to something like this. A complete waste of taxpayers' time going after Saylor, because you can bet your behind he has his accountants already doing all of this work all year long to show he has primary residence in FL. He won't owe DC squat. It's a progressive political theater. Meanwhile, so many shootings in DC and juvenile crime is outta control.

Read between the lines of Racine’s filing carefully: it’s abundantly clear they have an inside whistleblower from MicroStrategy or Saylor’s accounting firm. Someone is ratting him out and has the goods.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sounds like a lot of anxious posters are faking FL residency. Lots of teeth gnashing.

Nah, anyone worth any significant amount of money with multiple residencies that includes areas like FL, TX, etc. know the rules before hand and have their accountants document everything in case it comes down to something like this. A complete waste of taxpayers' time going after Saylor, because you can bet your behind he has his accountants already doing all of this work all year long to show he has primary residence in FL. He won't owe DC squat. It's a progressive political theater. Meanwhile, so many shootings in DC and juvenile crime is outta control.

Read between the lines of Racine’s filing carefully: it’s abundantly clear they have an inside whistleblower from MicroStrategy or Saylor’s accounting firm. Someone is ratting him out and has the goods.

OMG!!! A whistler blower said Saylor he was bragging about reducing his tax bill by avoiding DC's money grubbing hands!! Big whoop dee doo. You can't be penalized for bragging about making smart financial decisions and taking strategies to reduce your tax bill that millions of people do. It's going to be a lot harder to prove any laws were broken.

Millions of senior citizens earn decades of income in high tax states and shield decades worth of income from the states they're in all throughout their careers by investing in things like IRAs and 401ks. Then in retirement they just pickup and leave to a low tax state before they start withdrawing. The previous state they formerly lived in lost out on decades of income tax that was deferred to retirement accounts. Millions of seniors do it and brag about their huge tax savings too.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sounds like a lot of anxious posters are faking FL residency. Lots of teeth gnashing.

Nah, anyone worth any significant amount of money with multiple residencies that includes areas like FL, TX, etc. know the rules before hand and have their accountants document everything in case it comes down to something like this. A complete waste of taxpayers' time going after Saylor, because you can bet your behind he has his accountants already doing all of this work all year long to show he has primary residence in FL. He won't owe DC squat. It's a progressive political theater. Meanwhile, so many shootings in DC and juvenile crime is outta control.

Read between the lines of Racine’s filing carefully: it’s abundantly clear they have an inside whistleblower from MicroStrategy or Saylor’s accounting firm. Someone is ratting him out and has the goods.

I don't understand why someone who owns a home in Miami Beach would be spending so much time in DC. I would definitely be spending my time in Miami Beach.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sounds like a lot of anxious posters are faking FL residency. Lots of teeth gnashing.

Nah, anyone worth any significant amount of money with multiple residencies that includes areas like FL, TX, etc. know the rules before hand and have their accountants document everything in case it comes down to something like this. A complete waste of taxpayers' time going after Saylor, because you can bet your behind he has his accountants already doing all of this work all year long to show he has primary residence in FL. He won't owe DC squat. It's a progressive political theater. Meanwhile, so many shootings in DC and juvenile crime is outta control.

Read between the lines of Racine’s filing carefully: it’s abundantly clear they have an inside whistleblower from MicroStrategy or Saylor’s accounting firm. Someone is ratting him out and has the goods.

OMG!!! A whistler blower said Saylor he was bragging about reducing his tax bill by avoiding DC's money grubbing hands!! Big whoop dee doo. You can't be penalized for bragging about making smart financial decisions and taking strategies to reduce your tax bill that millions of people do. It's going to be a lot harder to prove any laws were broken.

Millions of senior citizens earn decades of income in high tax states and shield decades worth of income from the states they're in all throughout their careers by investing in things like IRAs and 401ks. Then in retirement they just pickup and leave to a low tax state before they start withdrawing. The previous state they formerly lived in lost out on decades of income tax that was deferred to retirement accounts. Millions of seniors do it and brag about their huge tax savings too.

That you Mike? Sorry about your bitcoins

[Anonymous]

Anonymous wrote:

Anonymous wrote:Sounds like a lot of anxious posters are faking FL residency. Lots of teeth gnashing.

Nah, anyone worth any significant amount of money with multiple residencies that includes areas like FL, TX, etc. know the rules before hand and have their accountants document everything in case it comes down to something like this. A complete waste of taxpayers' time going after Saylor, because you can bet your behind he has his accountants already doing all of this work all year long to show he has primary residence in FL. He won't owe DC squat. It's a progressive political theater. Meanwhile, so many shootings in DC and juvenile crime is outta control.

Wow, you assume some rich people aren't morons who just try to evade taxes. Obviously you can be honest and pay people to setup your legit residence in FL or you think you are smooth and do it all yourself because you're so rich who will ever know.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sounds like a lot of anxious posters are faking FL residency. Lots of teeth gnashing.

Nah, anyone worth any significant amount of money with multiple residencies that includes areas like FL, TX, etc. know the rules before hand and have their accountants document everything in case it comes down to something like this. A complete waste of taxpayers' time going after Saylor, because you can bet your behind he has his accountants already doing all of this work all year long to show he has primary residence in FL. He won't owe DC squat. It's a progressive political theater. Meanwhile, so many shootings in DC and juvenile crime is outta control.

Wow, you assume some rich people aren't morons who just try to evade taxes. Obviously you can be honest and pay people to setup your legit residence in FL or you think you are smooth and do it all yourself because you're so rich who will ever know.

Who are these rich people who do their own taxes? Their finances must be incredibly complicated and they seem completely unqualified to do their own taxes. They are not going to do a better job, even if the goal is to pay as little as possible, than their accountant or tax lawyer.

[Anonymous]

Anonymous wrote:Sounds like a lot of anxious posters are faking FL residency. Lots of teeth gnashing.

Pretty much everyone with a 9-figure or higher net worth has a mansion or ranch Florida, Texas, or Montana to tax dodge.

[Anonymous]

Anonymous wrote:
Nobody cares about any of that. What people care about is crime, specifically juvenile crime, and on that he has been 100 percent AWOL. Most of DC will be happy to see him gone.

Hate to break it to you, but the feds prosecute all crimes in DC. So cry to Biden about prosecutors going easy on juveniles in DC.

But you'll continue crying, I'm sure of that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Sounds like a lot of anxious posters are faking FL residency. Lots of teeth gnashing.

Nah, anyone worth any significant amount of money with multiple residencies that includes areas like FL, TX, etc. know the rules before hand and have their accountants document everything in case it comes down to something like this. A complete waste of taxpayers' time going after Saylor, because you can bet your behind he has his accountants already doing all of this work all year long to show he has primary residence in FL. He won't owe DC squat. It's a progressive political theater. Meanwhile, so many shootings in DC and juvenile crime is outta control.

Agree. these show cases always seem like a waste of time and they could be going after the day to day things.

[Anonymous]

Anonymous wrote:I know many people who have a second home in FL but work and live in the DMV. If they start cracking down, a lot of people will be selling their FLoria homes. Accountants tell people to buy a house in Florida to avoid state income taxes.

Not sure about that. What I have seen is people fully moving away from states like NJ and NY to avoid turbocharged taxes and constant harassment by overzealous tax authorities.

What I don't get is, why a lawsuit? Can't DC issue its own assessment if it has the evidence, and then it's Saylor who has to prove otherwise?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I know many people who have a second home in FL but work and live in the DMV. If they start cracking down, a lot of people will be selling their FLoria homes. Accountants tell people to buy a house in Florida to avoid state income taxes.

Not sure about that. What I have seen is people fully moving away from states like NJ and NY to avoid turbocharged taxes and constant harassment by overzealous tax authorities.

What I don't get is, why a lawsuit? Can't DC issue its own assessment if it has the evidence, and then it's Saylor who has to prove otherwise?

So DC should just ask nicely for its tax money? Have you considered that that’s already happened?

[Anonymous]

Anonymous wrote:

Anonymous wrote:
Nobody cares about any of that. What people care about is crime, specifically juvenile crime, and on that he has been 100 percent AWOL. Most of DC will be happy to see him gone.

Hate to break it to you, but the feds prosecute all crimes in DC. So cry to Biden about prosecutors going easy on juveniles in DC.

But you'll continue crying, I'm sure of that.

This is 100% false. OAG prosecutes crimes committed by juveniles. The only exceptions are kids 16 and up can (but not must) be charged as adults for murder, armed robbery, 1st degree sex offense, and certain degrees of attempted murder. But by all means continue to pretend to be knowledgeable while actually being ignorant.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I know many people who have a second home in FL but work and live in the DMV. If they start cracking down, a lot of people will be selling their FLoria homes. Accountants tell people to buy a house in Florida to avoid state income taxes.

Not sure about that. What I have seen is people fully moving away from states like NJ and NY to avoid turbocharged taxes and constant harassment by overzealous tax authorities.

What I don't get is, why a lawsuit? Can't DC issue its own assessment if it has the evidence, and then it's Saylor who has to prove otherwise?

So DC should just ask nicely for its tax money? Have you considered that that’s already happened?

Yes, I have considered the possibility, but there's zero mention of it so I doubt it happened. Without a serious step-by-step process, this sounds like grandstanding to get free media.

It is an interesting case though.

[Anonymous]

I don't know much about Racine so I have no opinion of him. My guess is Saylor really was in DC > 6 months/year, meaning he'd be a resident, but lied on his taxes. Most people who do this keep a logbook, and I'm guessing he falsified it. They are using the flight logs from his private plane and the geotags on his social media posting to prove he was in DC longer than he claimed.

His accountants probably aren't aware of any falsification of logs.