In this episode of The Liquidity Event, AJ and Shane kick off the new year by breaking down why leaving New York to avoid taxes is far harder than many high earners expect. Using a recent New York Times article as a starting point, they explain how New York residency audits actually work, the difference between quantitative and qualitative tests, and why most people who try to leave the state ultimately fail.

They then shift to OpenAI's decision to finally allow employees to donate equity to charity, why the move matters in the ongoing AI talent war, and how equity structure and tax timing play into charitable planning. The episode wraps with a deep dive into IPO scams, explaining how regulatory carveouts meant to encourage public listings instead enabled a wave of fraudulent foreign companies — and why retail investors are often the ones left holding the bag.

Taxes, equity, audits, and a classic Reddit money question to close out the year.

(00:00) Welcome, New Year timing, and recording Episode 170 in December
(02:00) New Year's plans, hosting fatigue, and seafood traditions
(04:00) The grill disaster and calling an audible on a holiday party
(06:50) Rich New Yorkers threatening to leave and why it's harder than it sounds
(08:15) New York residency audits and the two tests you must pass
(10:10) Qualitative residency rules: holidays, dogs, storage units, and intent
(13:30) Why most people fail New York tax exit strategies
(19:50) OpenAI allows employees to donate equity to charity
(22:30) IPO scams, the JOBS Act, and why fake companies keep slipping through
(26:45) Reddit question: what to do with $1.8M in liquid assets at a young age

🔔 Subscribe to The Liquidity Event on YouTube: YouTube Channel

🌐 Learn more about Brooklyn FI financial planning: brooklynfi.com

✍️ Leave us a voicemail question for a future episode: memo.fm/theliquidityevent

📱 Follow Brooklyn FI:

LinkedIn: / brooklyn-fi

Instagram: / brooklyn_f.i