How to Easily Make 13% More Money
Grant Cardone
Private Equity Fund Manager & Real Estate Investor ?$4.5BAUM ? Cardone Capital ? Cardone Ventures?10X Health System ? Author ? Cardone Vets ? Cardone University ? Real Estate Bitcoin Investment - Text (305) 407-0276
Lifelong New Yorker Donald Trump Officially Declared Himself a Resident of Florida.
Mr. Trump recently changed his primary residence from Manhattan to Palm Beach, Florida, according to documents filed with the Palm Beach County Circuit Court.
Here are Trump's words straight from his Twitter account:
Florida, which does not have a state income tax or inheritance tax, has long been a place for the wealthy to escape the higher taxes of the Northeast.
In changing his residence to Florida, Donald would escape New York State’s top tax rate of nearly 9 percent and New York City’s top rate of nearly 4 percent.
David Pratt noted that Mr. Trump probably changed his primary residence for the same reason other people have left New York.
“What he’s doing is not any different than what a lot of individuals from New York are doing, and they’re becoming Florida residents,” Mr. Pratt said.
Want to make a bunch of money?
Leave states that charge you income tax.
For example, California also charges a HUGE chunk of income tax.
That's why I moved from California to Florida back in 2012.
By making this move, I already had saved $1.3 million in 2013 alone.
I was able to rent a nice place on the beach for $25,000 a month, which meant I paid $300,000 in rent back in 2013.
In fact, just the money I saved in income taxes by moving to Florida in that FIRST year covered my 25K monthly rent for 4 YEARS.
Think about that—I paid 4 years of rent on the beach just to leave.
If you live in a place like California or New York, you’re literally throwing money away.
Check this out:
This is why many high-income New Yorkers like Donald Trump are now moving.
Why wouldn’t they?
Florida has no state and local income taxes, has a budget surplus, and is booming.
New York, meanwhile, is in debt while they are taking over 12% of your money.
Here’s the question every New Yorker should be asking:
Why should New York have such high state and local income taxes while states like Florida get by just fine without any state income tax?
“Tax the rich, tax the rich, tax the rich. We did. Now, God forbid the rich leave.” —Governor Cuomo.
Well, Trump just did.
And over the past 7 years, I was literally able to buy a jet just by leaving California.
So, why should I have stayed? Florida has palm trees and an ocean as well!
Be great,
Grant
P.S. Check out the upcoming 10X Growth Conference for a fun weekend in Las Vegas with great networking opportunities and business content to increase your income!
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5 年Yes, but if you have Realestate income in California you still pay CA taxes even if you live in FL.
CFO/VP of Finance/Controller -Finance Leadership Ex Amazon UPS e-commerce, DTC, Technology, SAAS, wholesale distribution, Import/Export, and Real Estate (Construction).
5 年Nice Photoshop!
Solution Sales - Embedded Systems | IoT | AI/ML | Web | Mobile | Cloud | Electronics Manufacturing
5 年That's awesome. Thanks for sharing.
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5 年Haha