Change Of Residency and the Illinois "Fair Tax" #111

Simply Tax

Content provided by Damien Martin, Damien R. Martin, and CPA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Damien Martin, Damien R. Martin, and CPA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

3+ y ago 49:48

MP3•Episode home

Change of state residency is on the minds of many these days, as we navigate a pandemic that has increased the prevalence of remote working and led some individuals to reevaluate where they live and work. State and local tax (SALT) attorney David Hughes joins host Damien Martin for an in-depth discussion on the topic of residency and a constitutional amendment on the 2020 Illinois ballot that would allow graduated income tax rates. Here’s what’s covered:

The Illinois “Fair Tax” @02:28
Some potential ramifications of a graduated income tax @14:34
Circumstances where changing residency may make sense and be a viable option @21:58
Factors for evaluating a change of residency @27:11
Overcoming a presumption of residency @36:56
Best practice for approaching SALT implications of telecommuting amid the pandemic @47:05

Learn more about our guest and get additional resources here.

GET MORE “SIMPLY TAX”

We’re excited to also provide video content to strengthen your tax mind! Check it out on our YouTube channel.

A complete archive of our episodes is available on our website and YouTube playlist.

We’d love to hear from you! Email feedback and questions to SimplyTax@bkd.com.

Connect with Damien on social media!

LinkedIn | Twitter | Instagram | YouTube

164 episodes

#Tax #Damien Martin #CPA #Damien R. Martin #Taxpodcast #Taxation #Business #Simplytax #Taxplanning #Podcasting Education