How the ultrawealthy use smartphone apps to avoid millions in taxes
Tax apps such as Monaeo, TaxBird, and TaxDay operate quietly in the background of smartphones, tracking physical location, counting days spent in each jurisdiction, issuing alerts as statutory thresholds approach, and generating exportable logs designed for audit defense. A second tier of apps, including Flamingo, Domicile365, Chrono: Time in Place, and TrackingStates, operates similarly, offering exportable logs, advisor integration, and threshold alerts.
For high-net-worth individuals...