Recently, hedge fund manager, Julian Robertson, avoided $27 million (yes, million) in New York City taxes.  He was able to prove he was outside the city and, therefore, not a resident of the city.  How did he do this?  His assistant kept detailed records of his time.

Many of us may not be able to save $27 million of income taxes.  But if you have more than one home, you'll need to establish residence.  How do you do this? 

- Live there more than six months a year.

- Register to vote.

- Get a driver’s license.

- Register your vehicles.

- File your federal income tax return in that IRS district.

- File any required state income tax returns.

- Have your will and trusts in that state.

- Use this as your mailing address.

ACTION ITEM:  Keep meticulous records as to where you spend your time.