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View Diary: How Hogan helped Mickelson get rich (128 comments)

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  •  Ray - well AZ is an option but also NV (0+ / 0-)

    The state income tax rates in Arizona are much lower than California and in nearby Nevada they are zero. Phils income is all earned income, little capital gains. The days of being able to shelter earned income ended with the Tax Reform Act of 1986. It probably costs Phil $3-5 million a year to live in California that he could save if he lived in a state with no income tax. It's not surprising that he is thinking about moving. My guess is that he tax advisers are giving him a big push.

    "let's talk about that"

    by VClib on Mon Jan 21, 2013 at 09:34:00 PM PST

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    •  The Nevada option has been open to him (1+ / 0-)
      Recommended by:
      elginblt

      forever. Why didn't he complain about the previous 10.3% rate and move before? That's three times the hit he'll take on the Prop. 30 bump. I'm guessing that living in Rancho Santa Fe appeals to him more than Vegas or Lake Tahoe, where the temperature differentials are severe. Mickelson is just whining. He's not going anywhere.

      I never liked you and I always will.

      by Ray Blake on Tue Jan 22, 2013 at 12:30:58 PM PST

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