Tax Practitioner Flees California for Nevada

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    Dec 06, 2011 4:49 PM GMT
    It defies imagination that there remain those who believe that California can fix its problems through higher taxation or blaming Prop 13 despite their arguments having repeatedly been debunked.

    http://www.taxabletalk.com/2011/12/02/when-silver-is-better-than-gold/

    If you’ve been a reader of this blog, you’ve seen me write numerous times about California’s tax and economic policies. Bluntly, if California were a corporation, it would be delisted from the Pink Sheets. (For those unfamiliar with the “Pink Sheets”, that’s the home for stocks that get delisted from the NYSE, American Stock Exchange, or NASDAQ.) Meanwhile, the only recipe that Democrats in Sacramento have is to increase taxes.

    My tax bite is roughly 10% to California. For every dollar I make, ten cents goes to Sacramento. (Yes, I get a benefit from that in that state income tax is deductible on federal tax. However, because of the Alternative Minimum Tax even that benefit is capped.) For the past few years I’ve considered if I could move my business to a friendlier environment. Earlier this year, I decided to do so.

    I’ve sold my house in Irvine, and am in the process of purchasing a home in the Las Vegas area. I will be in a much friendlier business environment, with a lower cost of living. The home I’m purchasing is nearly double the size of my current home and costs almost 50% less than what I sold my current home for.

    There comes a point where decisions are forced on you. With the growth of my business, I looked at possibly hiring another tax accountant in 2010. When I ran the numbers, I found that I would lose money by hiring a productive tax accountant. That’s because of all the regulations and costs that I would immediately incur if I had an employee. I’m not stupid: If I lose money by hiring someone, I’m not going to do it.

    Yet my business was (and is) growing, and I had to do something. As you may know, I’m adding a partner (Aaron Lion, E.A.). He’s based near D.C. rather than California. As of a week from now, I will have executed my own Escape from California.

    Democrats in Sacramento constantly say that with all of California’s advantages (and the state does have a lot: great climate, a large diverse population, and diverse industries) that increasing taxes doesn’t impact employment. That’s hogwash. It’s driven large companies (e.g. Nissan) to Tennessee. It’s driven me to the Silver State, Nevada. Sure, I’m just one job but the money I earn goes to support others’ incomes. That will still be the case, but not in the Golden State, California.
  • Posted by a hidden member.
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    Dec 06, 2011 5:33 PM GMT
    Not surprising!
  • Posted by a hidden member.
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    Dec 06, 2011 6:04 PM GMT
    mocktwinkie saidNot surprising!


    It is surprising to people who have little conception of what it means to create jobs and wealth and who take the people who do for granted.
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    Dec 06, 2011 6:05 PM GMT
    vxx_whining.png
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    Dec 06, 2011 6:08 PM GMT
    Christian73 saidvxx_whining.png


    Actually no. He's not complaining, the practitioner did something proactive. He left California and will create jobs there.
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    Dec 06, 2011 6:13 PM GMT
    riddler78 said
    Christian73 saidvxx_whining.png


    Actually no. He's not complaining, the practitioner did something proactive. He left California and will create jobs there.


    crybaby.jpg
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    Dec 06, 2011 6:21 PM GMT
    Christian73 said
    riddler78 said
    Christian73 saidvxx_whining.png


    Actually no. He's not complaining, the practitioner did something proactive. He left California and will create jobs there.


    crybaby.jpg


    Yep - in your warped world, the people who create jobs and pay taxes are the crybabies when those like yourself feed off the wealth created by others.
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    Dec 06, 2011 6:31 PM GMT
    riddler78 saidYep - in your warped world, the people who create jobs and pay taxes are the crybabies when those like yourself feed off the wealth created by others.


    You're so desperate. Accountants largely make their money by helping people and companies avoid paying taxes and - as is the case with nearly the entire financial services industry - do nothing to "create wealth" or "value".

    BTW, we're all still waiting for you to explain how one "creates wealth" or "value" in the "free market"... icon_lol.gif
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    Dec 06, 2011 6:37 PM GMT
    Christian73 said
    riddler78 saidYep - in your warped world, the people who create jobs and pay taxes are the crybabies when those like yourself feed off the wealth created by others.


    You're so desperate. Accountants largely make their money by helping people and companies avoid paying taxes and - as is the case with nearly the entire financial services industry - do nothing to "create wealth" or "value".

    BTW, we're all still waiting for you to explain how one "creates wealth" or "value" in the "free market"... icon_lol.gif


    Don't conflate "you" with "we" - that's what's desperate. And you know precisely how wealth is created as it's been explained repeatedly to you. You just refuse to accept it because it would mean that you would have to acknowledge you feed off the wealth of others in creating bandaid solutions as opposed to sustainables.

    Now as for accountants, given that I was trained to be an accountant, apparently you have no idea what they do. Am I surprised? No.
  • Posted by a hidden member.
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    Dec 06, 2011 6:50 PM GMT
    riddler78 said
    Christian73 said
    riddler78 saidYep - in your warped world, the people who create jobs and pay taxes are the crybabies when those like yourself feed off the wealth created by others.


    You're so desperate. Accountants largely make their money by helping people and companies avoid paying taxes and - as is the case with nearly the entire financial services industry - do nothing to "create wealth" or "value".

    BTW, we're all still waiting for you to explain how one "creates wealth" or "value" in the "free market"... icon_lol.gif


    Don't conflate "you" with "we" - that's what's desperate. And you know precisely how wealth is created as it's been explained repeatedly to you. You just refuse to accept it because it would mean that you would have to acknowledge you feed off the wealth of others in creating bandaid solutions as opposed to sustainables.

    Now as for accountants, given that I was trained to be an accountant, apparently you have no idea what they do. Am I surprised? No.


    As usual, no "there" there. Keep it coming, riddler. Your implosion, like that of the Republican Party, is both instructive and amusing. icon_rolleyes.gif
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    Dec 06, 2011 7:20 PM GMT
    Christian73 said
    riddler78 said
    Christian73 said
    riddler78 saidYep - in your warped world, the people who create jobs and pay taxes are the crybabies when those like yourself feed off the wealth created by others.


    You're so desperate. Accountants largely make their money by helping people and companies avoid paying taxes and - as is the case with nearly the entire financial services industry - do nothing to "create wealth" or "value".

    BTW, we're all still waiting for you to explain how one "creates wealth" or "value" in the "free market"... icon_lol.gif


    Don't conflate "you" with "we" - that's what's desperate. And you know precisely how wealth is created as it's been explained repeatedly to you. You just refuse to accept it because it would mean that you would have to acknowledge you feed off the wealth of others in creating bandaid solutions as opposed to sustainables.

    Now as for accountants, given that I was trained to be an accountant, apparently you have no idea what they do. Am I surprised? No.


    Lol - me thinks the lady doth protest too much. icon_wink.gif
    As usual, no "there" there. Keep it coming, riddler. Your implosion, like that of the Republican Party, is both instructive and amusing. icon_rolleyes.gif
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    Dec 06, 2011 9:51 PM GMT
    riddler78 said
    Now as for accountants, given that I was trained to be an accountant, apparently you have no idea what they do. Am I surprised? No.
    Well thats funny.. A retired Marine seems to have hung your 'accounting' skills out to dry in a not so distant thread.. icon_rolleyes.gificon_rolleyes.gif
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    Dec 06, 2011 9:53 PM GMT
    TropicalMark said
    riddler78 said
    Now as for accountants, given that I was trained to be an accountant, apparently you have no idea what they do. Am I surprised? No.
    Well thats funny.. A retired Marine seems to have hung your 'accounting' skills out to dry in a not so distant thread.. icon_rolleyes.gificon_rolleyes.gif


    Lol - you tell yourself that - ask anyone who has any training in any sort of math - say... 7th or 8th grade and ask them what they think of your math "skills" icon_wink.gif
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    Dec 06, 2011 9:57 PM GMT
    riddler78 said
    TropicalMark said
    riddler78 said
    Now as for accountants, given that I was trained to be an accountant, apparently you have no idea what they do. Am I surprised? No.
    Well thats funny.. A retired Marine seems to have hung your 'accounting' skills out to dry in a not so distant thread.. icon_rolleyes.gificon_rolleyes.gif


    Lol - you tell yourself that - ask anyone who has any training in any sort of math - say... 7th or 8th grade and ask them what they think of your math "skills" icon_wink.gif
    Run the numbers thru the formula and get back to us.icon_wink.gif. do it twice just for shit and giggles.icon_wink.gif
  • JP85257

    Posts: 3284

    Dec 06, 2011 9:57 PM GMT
    I wish Brewer would incentivise more business to move from California to AZ. She is doing nothing to increase the tax paying base here.

    We also get lots of people fleeing the taxation in CA for the more friendly environment here. Its not near the friendly quality of Nevada, but its much better than CA.

    I shake my head every time someone I know moves to CA.

    My best friend is leaving NYC and moving back to Phoenix. She will make the same amount of money, pay far less in state taxes and will also be able to reduce her expenses by 2/3. She says she just cant deal with another winter and that she prefers to be able to save more money.

    Oh and she is a big ol liberal.
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    Dec 06, 2011 10:17 PM GMT
    riddler78 said
    Christian73 said
    riddler78 saidYep - in your warped world, the people who create jobs and pay taxes are the crybabies when those like yourself feed off the wealth created by others.


    You're so desperate. Accountants largely make their money by helping people and companies avoid paying taxes and - as is the case with nearly the entire financial services industry - do nothing to "create wealth" or "value".

    BTW, we're all still waiting for you to explain how one "creates wealth" or "value" in the "free market"... icon_lol.gif


    Don't conflate "you" with "we" - that's what's desperate. And you know precisely how wealth is created as it's been explained repeatedly to you. You just refuse to accept it because it would mean that you would have to acknowledge you feed off the wealth of others in creating bandaid solutions as opposed to sustainables.

    Now as for accountants, given that I was trained to be an accountant, apparently you have no idea what they do. Am I surprised? No.


    Any successful entrepreneur will tell you the biggest crooks in the world are accountants, finance types and MBAs. If not committing fraud, they screw up businesses with their own greed and shortsightedness.

    Examples about everywhere...,.John Sculley (MBA) fired the most successful entrepreneur of the past 75 years...and the subsequently ran Apple Computer into the ground. GM replaced engineers in the CEO's office with accountants like Roger Smith...where they ran the world's most successful automotive company into the ground. And ENRON anybody? And let's not forget the 2008 financial meltdown and the plathora of Ivy League MBA's who stole, robbed and looted. And what about that other famous Harvard MBA...George Bush...where he took a surplus and left the country careening toward BK as he flew back to Texas in 2009.

    So just keep accountants like riddler78 in the backroom under a watchful eye and away from making decisions...and everything will be ok. icon_razz.gif
  • musclmed

    Posts: 3284

    Dec 07, 2011 2:05 AM GMT
    White4DarkerFL said
    riddler78 said
    Christian73 said
    riddler78 saidYep - in your warped world, the people who create jobs and pay taxes are the crybabies when those like yourself feed off the wealth created by others.


    You're so desperate. Accountants largely make their money by helping people and companies avoid paying taxes and - as is the case with nearly the entire financial services industry - do nothing to "create wealth" or "value".

    BTW, we're all still waiting for you to explain how one "creates wealth" or "value" in the "free market"... icon_lol.gif


    Don't conflate "you" with "we" - that's what's desperate. And you know precisely how wealth is created as it's been explained repeatedly to you. You just refuse to accept it because it would mean that you would have to acknowledge you feed off the wealth of others in creating bandaid solutions as opposed to sustainables.

    Now as for accountants, given that I was trained to be an accountant, apparently you have no idea what they do. Am I surprised? No.


    Any successful entrepreneur will tell you the biggest crooks in the world are accountants, finance types and MBAs. If not committing fraud, they screw up businesses with their own greed and shortsightedness.

    Examples about everywhere...,.John Sculley (MBA) fired the most successful entrepreneur of the past 75 years...and the subsequently ran Apple Computer into the ground. GM replaced engineers in the CEO's office with accountants like Roger Smith...where they ran the world's most successful automotive company into the ground. And ENRON anybody? And let's not forget the 2008 financial meltdown and the plathora of Ivy League MBA's who stole, robbed and looted. And what about that other famous Harvard MBA...George Bush...where he took a surplus and left the country careening toward BK as he flew back to Texas in 2009.

    So just keep accountants like riddler78 in the backroom under a watchful eye and away from making decisions...and everything will be ok. icon_razz.gif



    How come when a flat tax is proposed it is nearly unanimously opposed by the Democratic party?

    A flat or fair tax would presumably eliminate the need for said evil accountants.

    I think it comes down to some people want the rich to pay more and the poor to pay nothing.

    lets be honest the current tax system in place has a healthy lobby from both Republican's and Democrat's.

    Would you be surprised if I told you many Uber wealthy Beverly Hills types over here in California pay little or any Federal income taxes?
    And they are far from conservative. Some are even in entertainment and just have there corporations paid.

    Remember the two America's John Edwards? The lawyer that ruined the practice of OBGYN in North Carolina?

    The Sub-chapter S guy? who avoided 700k in Medicare taxes by underpaying his own salary. Yes he ran for Vice President and President.


    But can ANYONE name a Democrat who supported a flat tax that would eliminate the need for tax accountants? except for Mike Gravel ( LOL)?

    Truth is Democrats LOVE the current system, as they can exploit every perceived inequality .