My take is for truly wealthy people, there is where you live for tax purposes and where you spend your time. Those people usually also have a lot of control how they register their income. And so being wealthy really just means that paying more or less taxes is a discretionary expense. Like a lot of other discretionary life style expenses they pay.
Two examples I know of. One guy who had a $200,000 RV parked in a warehouse in SF. With his office upstairs. But he didn't 'live there'. And another whose llc owns a condo by the Marina. That guy doesn't 'live there' either. Both those guys probably paying $100k/year for 'convenience'
Things change radically when you where you live for tax purposes and where you spend your time are the same place. And you can't decide how you are paid. Some friends of mine, high paid working for a fortune 500 wanted to relocate them to Waco Texas. $200k goes a lot farther in Waco TX. And yeah fuck no.
Two examples I know of. One guy who had a $200,000 RV parked in a warehouse in SF. With his office upstairs. But he didn't 'live there'. And another whose llc owns a condo by the Marina. That guy doesn't 'live there' either. Both those guys probably paying $100k/year for 'convenience'
Things change radically when you where you live for tax purposes and where you spend your time are the same place. And you can't decide how you are paid. Some friends of mine, high paid working for a fortune 500 wanted to relocate them to Waco Texas. $200k goes a lot farther in Waco TX. And yeah fuck no.