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Updated almost 5 years ago,
Shifting Tax Domicile from where I live to where I invest
Hi, I live in New York City and can also move to New Jersey if needed. I am planning on investing out of state, most likely Ohio.
1. Is there a way for all of my REI activities, which are mainly wholesaling and joint venture landlording/holds with a local partner, to be taxed in Ohio only? Or will everything be taxes under my NYC residency status no matter what entities are used?
2. Ron legrand mentioned optioning the property to myself for a low amount to get it into a tax protected IRA account. Anyone able to confirm if this works?
Thanks