This past month, Richard and I moved to Reno. Although I was born in Oregon, I consider Reno my hometown because it’s always been the best fit for me.
There are emotional reasons for coming back to Reno. It is my hometown and it’s gone through a renaissance in the past 5 years that is nothing short of amazing. The downtown Truckee River is now a first class kayak adventure and the riverwalk features beautiful parks and sidewalk cafes. Speaking of food – Reno just made #1 for undiscovered foodie destinations. There are lots of year-round outdoor activities.
At heart, I’ll always be a CPA/Tax Strategist and that means I’m also looking at the business aspects.
Nevada has no state income tax. The homestead exemption is up to $550,000. The Nevada courts are very pro-business owners, fending off out of state claims and other state’s attempts to grab money. We bought a house at 40% of the cost to construct, but I think it was an anomaly because a neighbor’s house on the cul-de-sac just went up for sale for hundreds of thousands more than we paid.
Reno is reinventing itself as more than just a gaming destination. The casinos provide entertainment, a range of dining experiences and somewhere to send your out-of-town guests at night.
It’s still more than that though. I talk to California business owners every week who are fed up with the tax structure and worried about California’s mounting debt. They need to move their businesses. Austin was a destination for awhile, but then the real estate market went into crazy, runaway mode and it’s near impossible to find affordable houses for staff if you move a company. Reno offers proximity to the Bay Area, affordable housing, great outdoors and no state income tax. I am already helping a couple of companies make the move to Reno. I’m also a contributor to a brand new TV show that will be broadcast from Reno. And I’m in talks to be a syndicated columnist. My contacts for that are all in Reno.
There’s a lot happening here and that’s why I moved.
Is it right for everybody? No. But I think in today’s world of living wherever you want, working however you want, we have choices we’ve never had before. You just have to be clear on what you want and then chances are, it’s out there somewhere.