How Do I Change My State Residency For Tax Purposes
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- เผยแพร่เมื่อ 13 ก.ค. 2024
- When people retire and live in two different states often times they wish to change their residency so they are taxed in the more favorable state. This article will walk you through tips on how to do that, what happens if you get audited, and explain the difference between residency and domicile.
Contact Michael Ruger with Questions: 518-477-6686 or mruger@greenbushfinancial.com
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#taxplanning #financialplanning #greenbushfinancial #retirementplanning - แนวปฏิบัติและการใช้ชีวิต
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Such a great video, Thank you.
That was soooo helpful!! Thanks
Wow super helpful thanks!!
Very helpful. Thank you!
Great video I learned a lot and it makes sense
Very good and helpful information here. Also presented very clearly and easy to understand. Thank you
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Excellent video thank you! I've been down a long rabbit hole in searching the best income tax free states side by side. My top priorities are no income tax, no retirement tax (I have a 401k), no requirement to be physically present in state for long, no vehicle emissions or safety inspections. I'm particularly interested in FL and TN. Can you offer any spreadsheets you may have showing a side by side state comparison as I'm sure you created at some point? Or any websites that you found very good at what I'm after? PLEASE SHARE YOUR HELP AND WISDOM AS I REALLY NEED IT!!!
Fantastic info!
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What about as I separate from the military, still registered to vote in TN and license in TN, but stationed in OK and continuing work in OK. I have my vehicles registered in OK because I bought them both while stationed here. I don’t own property in either state. Can I stop state tax withholding if I plan to move back to TN after a prolonged stint of working here as a civilian and maintain my state of domicile? Since I don’t own a house there I’d bet it’s too weak to prove.?? Tips?
Great information. Question: I live and work in California and have RSUs in a start-up company. The RSUs are issued by our China parent company. By the time I cash out - (1) The RSUs will have vested while being a California resisdent and working in California, but (2) At cash out I will have been a resident of North Carolina for at least 2 years. I have been told that California's FTB expects state tax due for the RSUs that vested while I lived and worked in California, even though at cash out I will not be a resident of California. So, how does California trace the cash-out income when I will not be filing a CA state tax return?
That was brilliant
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I’m a license tax agent which I do small taxes and HR for small businesses. My question is can I do anybody taxes/ HR for companies in different states without buying a license in everystate
Thank you
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He’s an expert 💯💯💯💯💯
I got 25k$ within 5 minutes
All thanks to him for helping with cash app flip and credit card flip
Text Freddy and thank me later
This guy is a life saver.
I'm not a retiree. I just graduated college and have to train in Taiwan for 18 months. The job is technically in Navada, but I won't even set foot in the state till after I come back from Taiwan. The state I'm in I literally don't even have family in and won't maintain any property. I'm selling my vehicle, and my apartment lease will end. How do I make my domicile Texas for the next eighteen months?
I live in a van and constantly in different states. I work in Washington. I spend most of my time vacationing in California. My car is registered in Montana. I buy all my goods from Wyoming. My cat lives in Hawaii, and my dog lives in Alaska.
Government is gonna have a really hard time figuring this one out.
Do you make 10m? If not you're good
Most of this information in comprehensible to me besides your dog being in Alaska and your cat being in Hawaii. How does that work?
They will not bother it to check you
Maybe they will all try to get a piece of you and it will be up to you to show why you shouldn’t pay where.
I was a tax preparer in Pa for 5 years, as far as I know, they never audited anyone.
I would great move to other state
Great video. Question: If I move from NY to FL and then do a Roth conversion, will I avoid state tax on conversion amount since distribution will be considered FL income? And no NY tax, at least on the conversion amount?
If you claim domicile in FL and then process the Roth conversions, then yes, this strategy would work to avoid NYS tax on the conversion amounts. (Comment is for education. Not advice)
how about if 6 month you live in NY and moved to FL , do you have to file State Tax Return in both States?
If you move during the year, you have to file a return in both states (Comment is for education. Not advice)
Im a young adult in my very early 20s, I plan to move out with my girlfriend in a different state. I havent been to the doctors, or have voted, or infact have my own car, if I were to change those three things and work in the different state, would that be enough to prove domicile
I move a lot. I would love to know how should I file for each state. For 2020 between January and April, my work location and residence is St Louis Missouri ( I have wage income and stock capital gains). Between April and August, my work location and and residence is White plains, New York( I have wage income and stock capital gains). Between August and December, My work location work from home for New York based Headquarter Company and my residence is Florida ( I have wage income and stock capital gains). I could not find a clear way how to file my taxes for 2020. I really appreciate if you can put some insight. All these scenarios, I do not own a house, I always rent it.
Please contact me at my office and I can put you in touch with one of the accountants to answer this question. 518-477-6686 (Comment is for education. Not advice)
Hi,Text Freddy .. (304) 606-4573
He’s an expert 💯💯💯💯💯
I got 25k$ within 5 minutes
All thanks to him for helping with cash app flip and credit card flip
Text Freddy and thank me later
This guy is a life saver.
Hi, really important question, me and my wife live in Florida, but she worked in NYC for the whole year of 2020, would she put that she lived the full, part, or non resident?
My partner on the tax side provided me with the following response to your question: "Non resident unless they had living quarters in NY or NYC" (Comment is for education. Not advice)
@@greenbushfinancialgroup she was staying with her cousin in a separate room, it was temporary, but then she stayed longer, but came back to Florida beginning of 2021
do you actually provide a service to sort out residency problems for clients?
We do. Please feel free to contact our office 518-477-6686 (Comment is for education. Not advice)
Hi,Text Freddy .. (304) 606-4573
He’s an expert 💯💯💯💯💯
I got 25k$ within 5 minutes
All thanks to him for helping with cash app flip and credit card flip
Text Freddy and thank me later
This guy is a life saver.
Why would I wanna leave the US? Just so I can save some money? Why not just make more🤷🏻♂️
My Parents moved back to Panama and they are realizing how accessible everything is in the US. It’s definitely a life change move
We live in a travel trailer, with no permanent home, traveling for my husband's work. Last year, we spent 2 months in Illinois, 5 months in Texas, and the last 5 months in Washington, where we are considering settling down. My husband still has an Arizona driver's license, but he hasn't been there since he left a quarantining stint at his parent's home in mid-2020. Tax lady put him down as part-time Arizona resident for 2020, which in Arizona means you are either moving in or out of the state . Our truck and travel trailer are registered in Texas, but we will probably register them in Washington soon. We got married in Washington in December, 2020. We have voted in Washington. His Texas employer took out a few hundred for Arizona state taxes, and we just noticed it on the W-2. Can he claim non-resident status and get that money back easily, or will they make him prove he's not an Arizona resident? My fear is that they will see his AZ license and question his non-resident status.
Did you find the answer to your question. I have a similar complex situation.
@@jaysant6958 I googled resident definition for Arizona and the other states.
Very helpful. Question. I work in NYC and lived in NY my entire life. I recently sold my home and moved down to Florida 100%. Bought a house in FL. Clean cut move. My job let me work remotely down in FL. Work related... It was a voluntary move. I work from home in Florida now. Will NY try to claw back this year tax revenue and all future state tax revenue because I had a cubicle at a Manhattan office that I no longer occupy? My employer changed my workplace to Florida.
Im not an expert, but I am on the same boat, living in Utah work remote for California. From my research high chance, NY will try to get something from that income. Florida has 0% tax if I remember it right, you might have to pay that 7% percent in NY.
I don't have a dog, would a pet rock work?
Dog? Really lol
Was you client Donald Trump?
Hi,Text Freddy .. (304) 606-4573
He’s an expert 💯💯💯💯💯
I got 25k$ within 5 minutes
All thanks to him for helping with cash app flip and credit card flip
Text Freddy and thank me later
This guy is a life saver.