hedgehog
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Tue Oct-04-11 04:48 PM
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Two examples of what we're up against - |
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I'm at a company business conference, so I have to bite my tongue and vent here -
Example 1: Young couple transferred here from company office overseas. They bought a house using the tax break Obama put out a few year's back to stabilize the housing market. Now he's transferred to another office 25 miles away. He's complaining about having to commute the 25 miles because he can't sell the house and it's Obama's fault! First off, don't come to my country, take advantage of my tax code to buy a bigger, newer house than my kids can afford, then complain about it! Second, if you want to sell your house and move closer to the new job, then give the money back and sell the damn house! Nothing's stopping you except your own damn greed!
Example 2: Retired couple, they sold house in NY to kids, kept summer camp and moved to second Southern house for winter. He earns money consulting for company. Their daughters went to NYS public universities. Their complaint is that since they own real estate in NY, they have to pay NYS income tax. I'm thinking there's something fishy here, that they're trying to keep some NYS benefits without paying NYS taxes. You establish residency, vote and pay taxes where you live. I didn't bring up George Romney registering to vote from his son's basement!
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iscooterliberally
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Tue Oct-04-11 04:59 PM
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Those folks should just become reluctant landlords and rent the damn place out. I got stuck with my dad's hell hole when he passed back in '06. We fixed it up hoping to sell it, then the bottom dropped out. All we can do is rent and wait. Luckily we have good tenants. I have no idea what to say about example 2. :+
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louis-t
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Tue Oct-04-11 05:09 PM
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2. I think you meant Mittens. |
WhiteTara
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Tue Oct-04-11 05:14 PM
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3. If they don't keep the house for 4 yeras |
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then they are required to pay back the money.
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gratuitous
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Tue Oct-04-11 05:20 PM
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Gee whiz, I do that every day on my bicycle. Okay, it's round trip, but I do it in rain, wind, cold and heat. Color me unimpressed, particularly if Mr. Transfer has a nice car with heating and air conditioning to make his commute in.
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Coyote_Bandit
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Tue Oct-04-11 05:41 PM
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There are many who are legal residents of more than one state.
Owning real estate in a particular state in and of itself ought not make someone a resident of that state subject to paying income tax to the state.
If this couple winters in a Southern state they may well be spending enough time there to be considered a legal resident of that state. They may be paying state income taxes to both states. Some states give credit for income taxes paid to other states, some don't.
This couple likely owe some tax to that Southern state. It would be interesting to know if they paid those as well as those NY taxes.
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ProgressiveProfessor
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Tue Oct-04-11 06:42 PM
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6. Some states are real butholes when it comes to split residences |
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and go after you for everything they can. Not just income, but auto registrations and other residence related items. I had one state come after us for not filing for two years after we moved from the state and had no nexus there.
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DU
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Wed Apr 17th 2024, 01:41 PM
Response to Original message |