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Real Estate
Reply to "What's the deal with Jackson Hole WY?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]No state income tax in Wyoming. We know 2 wealthy people who make it their primary residence for that reason. And they've achieved wealth critical mass so there are the amenities wealthy people want - a good airport, great restaurants, decent shopping, cultural and outdoor activities, etc.[/quote] Legit question: do these people actually spend 51% of their time in no income tax states? I’m convinced that many do not and this is actually one of the biggest sources of tax fraud, tho it’s very difficult to police.[/quote] The people that I know that do this keep meticulous records because it does get tested and checked by the IRS. Most of them have an assistant that does it, but the records are definitely kept. Have had people postpone a late year meeting in town or do it on the phone because they are a couple of days behind and need to make the number by the end of the year[/quote]
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