Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Well, as I continue to enjoy the sailing lessons I've started taking, I start dreaming of a lifestyle of live aboard cruising to distant shores. Lazy days at anchor off Bora Bora and all that.

So a cruising sailboat (or maybe a trawler yacht) becomes our permanent residence, with maybe only a few days each year spent in a California house, do we escape Californa income taxes on my corporate pension, stock sales (CA treats capital gains as ordinary income - at 9.3% ouch!), and Social Security?

Anyone know what the world sailor with a little used second home in California needs to do to legally avoid the clutches of the Franchise Tax Board? Would a PO box in Papeete be necessary? Could one still maintain a second home in El Segundo?

--Leftcoastjayhawk (who is still trying to figure how how to pay for such a yacht - reduced taxes would help - a little...:-)
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.