Welcome to Colorado, where you can live richly and wisely, and find luxurious adventures on the cheap! In the spirit of The Budget Socialite, I’m here to talk you through how you can make the best decisions to maximize your money while living in one of the country’s most stunning and desirable states. First of all, let’s talk about Colorado’s appeal for luxury living on a budget. From the mountains to the open plains, our state offers luxurious adventures for everyone. You can enjoy Colorado’s pristine national parks, majestic mountain ranges, and beautiful natural wildlife all from a reasonable luxury mountain cabin or condo. Those with an appreciation for fiery sunsets which are nearly impossible to look away from at night might prefer the serenity of the plains or hilly countryside. But wherever you choose to lay your head, you are sure to find luxurious opportunities on a budget. And that needs to be taken into consideration when you file your taxes. The state of Colorado, like many other states within the US, has certain rules regarding residency for state income tax. You may, or may not, be aware of these rules. These rules, in particular, are pretty straightforward, and determine whether or not you are subject to Colorado state income tax. Income tax is collected by the state, based on how much income you have earned in a given time period. Typically, the more you earn, the more you will owe in taxes. Taxable income can include wages, interest and dividends earned from bank accounts, rental markets, loans, stock dividends and more. In some states, such as Pennsylvania, income tax is calculated based on a flat rate, as opposed to the Cuomo method where high income earners undoubtedly pay higher tax rates. The benefits of being in the know about residency rules for income tax are quite simple. You are able to make informed decisions about where you live and what jobs to take. You are able to control how much tax you pay based on where you select to live and work, based on the amount of income you earn, and if you intend to spend the majority of the year in Colorado. By understanding the Colorado residency rules for income tax and tax brackets, you are able to maximize the amount of money you have on hand to spend and enjoy the Colorado lifestyle. A few tips to help you keep your residency status in Colorado under the state’s residency rules for income tax as follows: Now that you have a solid understanding of how you can keep residency status in the Centennial State, let’s talk about how tax savings can enhance your lifestyle spending power. The short answer is: it provides you with more money to spend, which makes life a whole lot better. For instance: Now that you have a better grasp of the benefits of being a Colorado resident (for the purposes of income tax, of course!) let’s talk about some of the possible pitfalls or common mistakes people make related to the residency rules. One issue I have heard of is people renting or buying homes in Colorado, and claiming tax residency without ever setting foot in the state. Unless you are Albert Einstein, this may not be a great idea, as you will have to convince the state income tax people that you were not simply trying to get out of paying taxes in your home state, it wasn’t because you left your socks there. Now that you can breathe a little easier with these Colorado residency rules in mind, it’s time to go and kind both luxury and adventure in the same breath. You can do it all in Colorado, sinfully good food, stunning landscapes, and far away national parks. The state has everything you could ever ask for, so long as you are willing to enter the adventure with a willing heart and mind, and a credit card capable of covering the expenditures for now, and a sense of humor for when things appallingly go wrong. It happens to all of us, so don’t get discouraged if things don’t go as you planned. Keep trying and persevering for adventure will come. If you are unfamiliar with the Colorado residency rules for income tax, you can read all about them here: rules regarding residency for state income tax. Hopefully, you are now shaping up to be an expert, and can help others as they try to readjust to life in the Centennial State.

It’s all about spending less than you earn when you’re young, when you’re old, and when you’re somewhere in between. The Budget Socialite is devoted to inspiring young socialites, and in this case, young socialites are those who want to begin working, legally, to earn extra income. The salary you earn can go a long way into making you even more frugal and therefore, richer. There’s no time like the present to make some money, so here’s how to get started when you’re young, but don’t yet know much about the law or balancing a budget.

So, how old do you have to be in order to begin working? Under Nevada law, the minimum working age in Nevada is:

• 12 – You can only work in non-hazardous jobs
• 14 – You can now work a complete job
• 15 – You may only work limited hours
• 16 – You may work any job with no restrictions
• 18 – You become an adult worker

The purpose for all the restrictions set forth is to protect minors from harsh labor laws. It’s important to know that you cannot work too many hours in a day, or too many days in a week. Doing so will result in serious consequences for the business for which you’re working.

The good news is that there are lots of legitimate places you can go to find work. Among your top options are fast food restaurants, grocery, convenience, and retail stores. Other opportunities involve working as a babysitter or dog-walker, or mowing lawns around your neighborhood. These jobs teach you about the responsibility of managing other’s property, plus you’re likely already familiar with all three. No one wants a neighbor kid that steals their dog or refuses to return a lawnmower unless you fork over $10. Did I mention that tip money you can receive for simply dog-sitting if the dog is already friendly?

As you can see, there’s plenty of work out there for teenagers. Don’t fall into the trap of sitting around doing nothing when you’re old enough to be out earning a little extra cash. Working is necessary to get by, and it’s fun in the process. Now you just need to learn how to balance that checkbook.

Understanding Common Law Marriage in New York State

Often times a modern lifestyle blog about frugality and living richly on a budget doesn’t blend as well as you think with legal insight, but The Budget Socialite breaks the mold. One such exploration can be found below: When it comes to understanding what constitutes a legal marriage in the United States, the answers can be quite confusing depending on where you live. For many people, interest in the subject is based around the need to be sure of whether something is legal or not and to avoid infringement on their rights. If you desire, for example, to better understand some of the finer points about what it means to enter into wedlock, you might wish to consult with specialized legal professionals.

How this can save you money in New York State

The legalities surrounding marriage and cohabitation can vary greatly from one State to the next, and you might be surprised by what some dictate and others don’t. As an example, marital law in New York State includes a prohibition on polygamy, but it does not require that you obtain a license to marry in order for your union to be recognized as having been solemnized in a legal sense. This makes common law marriage a somewhat grey area, as the State does not recognize common law marriages as being valid.

Does NY recognize common law marriage?

This leads to the first point for discussion. The Budget Socialite has discovered recently through looking into the matter of what the law says for New Yorkers when it comes to common law marriages is that this form of being joined with another person is not recognized. To put it simply, if you decided to cohabitate and live with someone without officially becoming husband and wife, the New York government does not automatically assume that you did so with the intent to become married. It does not therefore afford the two of you the benefits and privilege of being considered a lawfully wedded couple.

That means, if you wait several years to become married, for example, and decide to move in together within a year of becoming a couple, it doesn’t really matter, according to New York laws. Colloquially speaking, the two of you are simply considered to be living together, nothing more. That sounds a little bit rough for those who have chosen that route, but contrary to what you might think, there’s an upside to this situation.

As mentioned above, individual lifestyle blogs don’t always focus on the legal side of things, but what goes on with assets, children, and relationships in the event of break up or separation can be a hot topic. Perhaps there’s also an important estate to consider in the event that one of the parties should die suddenly (i.e. common-law spouse dies and leaves money to all of his/her children but common law spouse gets nothing), or perhaps there are complex tax implications. It’s ultimately best to consult a lawyer in this case, but we do suggest you also conduct valid internet research preferably with a list of credible sources. Be sure to bookmark the article for later if you missed it: comprehensive insights on common law marriage.