The California business exodus has made headlines recently, as remote work has freed up the workforce to work from anywhere and cost of living continues to be an issue in the Golden State.
But are as many people and as many businesses leaving California, as these headlines may insinuate?
BPM’s Sandy Murray is quoted in a recent Yahoo! Finance article on the topic.
“More people have left in the past six months than ever in my career,” he said. “It’s always been a theoretical conversation for clients—should I break domicile? Now it’s become an actionable conversation. I see a snowball effect. When one guy moves and talks about it, then I get a call from three colleagues at the same company. If only a small percentage of those folks move, it’s a huge tax base that moves.”
Read the entire article on the Yahoo! Finance website.
About Sandy Murray
Sandy has over 30 years of experience in tax return preparation, planning and research. His experience includes maximizing net worth and minimizing taxes, while helping clients with Incentive Stock Options (ISOs) tax planning. Sandy regularly helps individuals with planning for the sale or acquisition of Qualified Small Business Stock (QSBS), treating losses from Sec 1244 stock and assessing the tax implications of proposed transactions. His background also includes preparing tax projections, as well as identifying and researching complex tax issues.
Sandy’s practice is concentrated on assisting ultra-high-net-worth families with yearly income tax planning and life-long estate planning. He has represented clients from a variety of industries including financial services, professional services, high-tech and real estate in the form of sole proprietorships, partnerships, corporations and LLCs.