Episode 45 - What You Must Know About Changing Your State Residence — With Karen J. Tenenbaum

Life Unlimited with Larry Heller, CFP(R)

Would you ever make a big move to a tax-free state like Florida?

Now more than ever, people are leaving New York State for tax-free states only to discover that their residency, for tax purposes, hasn’t changed.

Tax rules around residency can be complex and ambiguous, but today’s guest brings clarity to the subject. CPA and tax attorney Karen J. Tenenbaum is the founder and managing partner of Tenenbaum Law, P.C., which focuses its practice on the resolution of IRS and New York State tax controversies. In this episode, Karen fills Larry Heller in on how the residency rules work in New York State, what to expect if you get audited, and options for resolving a tax matter.

In this episode, you’ll learn:

• Which lifestyle factors will increase your likelihood of being audited
• How your residency is determined
• Why New York’s tax rules affect high-net-worth individuals the most
• How New York State calculates the days for the 183-day requirement
• How to protect and defend yourself at an audit
• And more!

Tune in now to learn how your residency is determined and actions to take if you get audited.

Resources: Heller Wealth Management | Tenenbaum law, P.C.: (631) 465- 5000 | e-book: Surviving a New York State Residency Audit| ktenenbaum@LItaxattorney