HERE are 10 tips to avoid residency audits when you move to a tax-free state:
• Get a driver’s license in your new state.
• Register to vote in your new state.
• Open a bank account in your new locality.
• Change vehicle registrations.
• Update address on bills.
• Join social clubs in your new state.
• Join business associations in your new state.
• Change affiliations to religious groups in your new state
• Update your estate-planning documents to reflect the laws of your new state.
• Update your trust, will, and healthcare directives to include trustees and agents in your new state.
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Victor Santos Sy graduated Cum Laude from UE with a BBA and from Indiana State University with an MBA. Vic worked with SyCip, Gorres, Velayo (SGV – Andersen Consulting) and Ernst & Young before establishing Sy Accountancy Corporation in Pasadena, California.
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He has 50 years of experience in defending taxpayers audited by the IRS, FTB, EDD, BOE and other governmental agencies. He is publishing a book on his expertise – “HOW TO AVOID OR SURVIVE IRS AUDITS.” Our readers may inquire about the book or email tax questions at [email protected].