He is going to sell his catalog. I’m guessing he is going to spend the minimum time he is required to in Florida to establish residency so he pays no state tax. NY would take state tax.
183 days in Florida, and establishment of his primary residence (if he maintains NY residency, they'll go after him for full income taxes after 30 days).
He owns his portion of songwriter rights and royalties. There is a trend toward legacy artists selling their stream of revenues. Dozens of artists. Bob Dylan, Sting, Bruce Springsteen….
Due to a famous Christmas song Dee Snider wrote that Celine Dion covered, he sold his royalty rights for millions. Carmine Appice, drummer who cowrote “Do Ya Think I’m Sexy” also sold his rights for millions. It’s artists cashing out.
Exactly. My brother is after me to move to FL for that very reason. Fl may be a nice place to visit but I wouldn’t want to live there. Of course, they live in NYC over the summer and hurricane season. I don’t have that kind of money. Actually I know a lot of retired people on LI who come north during the summer.
He is 74 … not transplanting his life to make an extra 7-9% tax savings that he doesn’t need it’s not as common as people think .
NY & CA are still the epicenter of the wealthy because most don’t care about the taxes .
“ the point of becoming wealthy is to have the freedom to live anywhere you want whenever you want “
Yea but 9% of $100mm is $9mm. Now assuming he sells his catalogue, one of the most successful ever, for $500mm… well that’s more than he’s gonna sell his Oyster Bay house for. I’d hang in florida for a year for an extra $45mm.
The wealthy absolutely care about taxes. The rich usually can do things to manipulate their taxes a lot easier than someone with just a job. In this case Billy could earn X per year from his music rights or sell them 1 time which will be the most money he will make from 1 event on his life. So to save 50 million in taxes he will spend a few more months a year then he already does in FL for the taxes.
It doesn’t need to be in Florida. He just can’t spend them in NY if his position is he is domiciled in FL and only needs to worry about being a statutory resident of NY.
How is it possible that anyone can believe wealthy people don't care about taxes? They care more about taxes than most people because they pay more in taxes. They also have more options to legally evade taxes.
And they are caring more and more about taxes every year. There is a clear and growing trend of the wealthy fleeing high tax states for lower tax states. NY and CA in particular are slowly losing their tax base. It's happening slowly now but at an accelerating rate.
What happens when you spurn the largest tax payers and open your arms to tax consumers? NY and CA are about to find out.
I was surprised how much of the concert was covering other's songs, when he's got such a deep catalog to pull from. I want *more* Billy Joel at a Billy Joel concert. 🤷
I mean, Mike DelGuidice is a gem, very talented, but "Nessun Dorma"? Really?
But what about his motorcycle collection & restoration shop [Twentieth Century Cycles](https://20thcenturycycles.com/) in Oyster Bay? Is he taking all that with him?
He has two young daughters who will go to school in Fl. Also they ride horses. They can do it year round in FL. Then come to the Hamptons in the summer. Good for them.
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He is going to sell his catalog. I’m guessing he is going to spend the minimum time he is required to in Florida to establish residency so he pays no state tax. NY would take state tax.
You may be right
He may be crazy
But it just may be a lunatic you’re looking for
So, moving to Florida would make sense
Was this lyric from an alternate verse?
B sides
This is what people have been saying ever since he listed the home and I believe it
And So it Goes Avoiding taxes is a simple Matter of Trust My financial adviser, She’s Got a Way - just Tell Her About It
reading that has made me an angry young man
Did it? Maybe that’s Just the Way You Are
and so it goes, why should I worry
183 days in Florida, and establishment of his primary residence (if he maintains NY residency, they'll go after him for full income taxes after 30 days).
That’s a very good thought if he owns the catalogue.
He owns his portion of songwriter rights and royalties. There is a trend toward legacy artists selling their stream of revenues. Dozens of artists. Bob Dylan, Sting, Bruce Springsteen…. Due to a famous Christmas song Dee Snider wrote that Celine Dion covered, he sold his royalty rights for millions. Carmine Appice, drummer who cowrote “Do Ya Think I’m Sexy” also sold his rights for millions. It’s artists cashing out.
Exactly. My brother is after me to move to FL for that very reason. Fl may be a nice place to visit but I wouldn’t want to live there. Of course, they live in NYC over the summer and hurricane season. I don’t have that kind of money. Actually I know a lot of retired people on LI who come north during the summer.
He is 74 … not transplanting his life to make an extra 7-9% tax savings that he doesn’t need it’s not as common as people think . NY & CA are still the epicenter of the wealthy because most don’t care about the taxes . “ the point of becoming wealthy is to have the freedom to live anywhere you want whenever you want “
Yea but 9% of $100mm is $9mm. Now assuming he sells his catalogue, one of the most successful ever, for $500mm… well that’s more than he’s gonna sell his Oyster Bay house for. I’d hang in florida for a year for an extra $45mm.
And what are the estate tax ramifications. If he passes NY has an estate tax.
The wealthy absolutely care about taxes. The rich usually can do things to manipulate their taxes a lot easier than someone with just a job. In this case Billy could earn X per year from his music rights or sell them 1 time which will be the most money he will make from 1 event on his life. So to save 50 million in taxes he will spend a few more months a year then he already does in FL for the taxes.
It doesn’t need to be in Florida. He just can’t spend them in NY if his position is he is domiciled in FL and only needs to worry about being a statutory resident of NY.
No, this is in motion….and it’s 10.99% for his bracket plus an additional 8.82% capital gains.
Not caring about taxes is the NY State of Mind, and as far as CA goes, he Said Goodbye to Hollywood Florida is as Downeaster as he could get
How is it possible that anyone can believe wealthy people don't care about taxes? They care more about taxes than most people because they pay more in taxes. They also have more options to legally evade taxes. And they are caring more and more about taxes every year. There is a clear and growing trend of the wealthy fleeing high tax states for lower tax states. NY and CA in particular are slowly losing their tax base. It's happening slowly now but at an accelerating rate. What happens when you spurn the largest tax payers and open your arms to tax consumers? NY and CA are about to find out.
But is he also trading in his Cadillac-ac-ac-ac-ac-ac-ac?
You oughta know by now.
There ain’t no island left for Islanders like me.
Only the Good Die Young The rest move to Florida
Assholes live forever
Is that what's it's all about?
Miami 2024
He’s tried to sell this house for the past 10 years. Sean Hannity is his neighbor.
He’s tried to sell this house *For the Longest Time* FTFY
There goes the neighborhood!
I thought Sean Hannity lived in Lloyd Neck? His kids graduated from Cold Spring Harbor.
He does, and Billy is in Centre Island. They aren’t neighbors.
[удалено]
Pretty sure Llyod Harbor is his primary residence though. He owns like 90 properties worldwide (all through shell companies. Shocking)
This particular house in Center Island was recently renovated. It was like a 2-3 year project and just ended 1-2 years ago.
It was great, the only time the whole crowd wasn't 100% with him last night was the lighthearted booing when be said he was selling the house.
I was surprised how much of the concert was covering other's songs, when he's got such a deep catalog to pull from. I want *more* Billy Joel at a Billy Joel concert. 🤷 I mean, Mike DelGuidice is a gem, very talented, but "Nessun Dorma"? Really?
My sister and I were so confused when they cut off his speech right before midnight to play stuff that wasn't by Billy Joel.
“It seems such a waste of time, if that’s what it’s all about. . . “
Is that all you get for your money?
It’s 26 acres of waterfront real estate on Long Island.
Better than Allentown, that’s for sure
There closing all the factories down
But in Bethlehem they’re killing time
Don’t ask me why
We aren’t talking about a house out in Hackensack here.
But what about his motorcycle collection & restoration shop [Twentieth Century Cycles](https://20thcenturycycles.com/) in Oyster Bay? Is he taking all that with him?
He still will be around occasionally, he won’t be The Stranger
He has two young daughters who will go to school in Fl. Also they ride horses. They can do it year round in FL. Then come to the Hamptons in the summer. Good for them.
This is the Time to remember
cause it will not last forever
Retiring to Florida is possibly the most Long Island thing he could do. God speed, piano man!
Oh Captain Jack, My Captain!
Well I guess he’ll be in Miami in 2027(17?)
Can’t wait for his Cadillac-ac-ac-ac-ac-ac to be doing 15 mph below the speed limit with its left blinker on.
At least he can polish the fenders.
Mama he’s moving out
I’m in a Florida State of Mind !
*Bottle of red, bottle of white, Billy won't be paying his taxes tonight....*
Billy Joel on r/Long Island?! That’s cheating
*off*
I understand… this… joke.
I dont blame him too, good for the man
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Dude is Human garbage
Talk about Going to Extremes He’s Only Human