What's the best way to minimize long-term capital gains tax? My current state (North Carolina) has a 5.75% state income tax. I'm considering moving to Texas or another 0% state income tax to reduce the tax I need to pay from a $1 million Bitcoin sale. ($57,500 state income tax in my current state)
I have a W2 job which lets me work at home 100%, and own a home in North Carolina. In 2017 I will be in the 15% tax bracket.
If I rent an apartment in Texas, register my car there, and get a Texas driver's license, would that be enough to prove I live in a 0% income tax state?
I don't want to commit tax evasion, but rather tax avoidance.
Also...would it be worth it to move to a country with 0% capital gains tax on Bitcoin such as Singapore or Germany? Then I would save approximately $300,000 on taxes [I'd have to give up my USA citizenship, but I don't have any family here or anything tying me down to here really]
Submitted December 21, 2017 at 02:46PM by MarioTaxes http://ift.tt/2BVcjIN
