Hellow guys, Welcome to my website, and you are watching California New Insane Taxes: Leave Before It's Too Late. and this vIdeo is uploaded by Wealthy Expat at 2024-01-17T08:00:09-08:00. We are pramote this video only for entertainment and educational perpose only. So, I hop you like our website.
| Name | California New Insane Taxes: Leave Before It's Too Late |
| Video Uploader | Video From Wealthy Expat |
| Upload Date | This Video Uploaded At 17-01-2024 16:00:09 |
| Video Discription | Best Countries for Millionaires ▶ https://youtu.be/AayT058M438 💰 Book a Call and Become Our Client ▶ https://www.wealthyexpat.com/#calendly Join our exclusive newsletter ▶ https://www.wealthyexpat.com/newsletter Have questions or want to check if we can help you? Message Me Directly on Whatsapp ▶ https://wealthyexpatcall.com/whatsapp Summary of this video: 💰 California's New Exit Tax Proposal - California wants to impose an exit tax on individuals and businesses leaving the state. - The tax applies to individuals with a net worth of over $30 million and businesses worth more than $30 million. - If you're determined to be worth $30 million or more, you'll need to pay 4% of your taxes for the next 10 years after leaving California. 🛡️ Expansion of Wealth Tax in California - California plans to start imposing a wealth tax in 2024 on individuals worth $1 billion or more. - From 2026, individuals with a net worth of $50 million or more will also be subject to the wealth tax. - This tax will be an annual percentage-based tax on wealthy individuals. 💼 Legal Implications and Enforcement - California is empowering attorneys to investigate tax evasion and improper tax payments. - Attorneys can extort individuals or report them to the state for tax evasion. - This legal approach adds an additional layer of enforcement for the exit tax. 🏢 Exit Tax for Businesses - The California exit tax isn't limited to individuals; it also applies to businesses. - Businesses leaving California with a value of more than $30 million will be subject to the exit tax. - This can add a significant financial burden on businesses looking to relocate. 🤖 Strategic Plan to Control Wealth and Population - California's policies seem to be driving out wealthy individuals and businesses. - The government may gain more control over the population as a result. - This could lead to a shift in the economic landscape and property values in the state. 🛒 Impact of Minimum Wage and Automation - California is increasing the minimum wage to $16 an hour, which may lead to automation in large corporations. - Automation is on the rise globally, reducing job opportunities. - The government's control over the population may increase as a result of these economic changes. 🌐 The Comprehensive Strategy - California's policies appear to follow a comprehensive strategy: flush out wealth, control the population, increase minimum wage, and impose taxes. - The goal seems to be funding government projects and gaining more control over citizens. - The state's direction is causing concern among residents and businesses. 🚀 Recommendations and Conclusion - If you're in California, consider leaving as soon as possible to avoid the exit tax. - Be cautious about your social media presence, as it could be used against you for tax purposes. - Seek professional assistance if you're looking to leave California or the United States to lower your taxes and protect your assets. DISCLAIMER: This video is not tax and/or financial advice. Any information or advice I give is purely based on my own experience and research. I am not a tax professional and/or lawyer and/or accountant so I am not liable for any steps you take to lower your taxes. I'm not a financial advisor nor do I pretend to be. Always do your own research. |
| Category | News & Politics |
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