Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: ConservativeMind

I’m a divorced guy with a fairly high wage and I moved to FL a year ago to save on income taxes. It depends on a lot of different factors as to whether you’re better off in a state with low income tax/high other taxes or the reverse. In my case I get harmed a lot more by high income taxes than property or sales taxes. I’m not a big spender locally so sales taxes don’t really bother me, and FL doesn’t tax food anyway which is probably 50% of my out of pocket spending. Meanwhile my old state was costing me about $15,000 a year in income taxes, I have to buy a lot of stuff to make up for that. Property taxes aren’t low in FL but I don’t have a lavish place so they’re not bad for me. If I had to have a fancy pad on the water I’m sure they’d hurt.

You have to look at it as a whole to see what works for you. If your yearly salary isn’t very much then you’ll come out better in a state with an income tax and low other taxes, effectively shifting the tax burden from yourself to the higher earners. If you have a higher salary then it’s better to be in a state that doesn’t tax income, it really starts to add up as I can attest. There’s a reason so many high earners with multiple residences have one in Florida or Texas that they claim as their primary home.


88 posted on 01/17/2020 2:04:53 PM PST by GaryCrow
[ Post Reply | Private Reply | To 1 | View Replies ]


To: GaryCrow

What state did you move to Florida from?


89 posted on 01/17/2020 2:07:23 PM PST by Jane Long (Praise God, from whom ALL blessings flow.)
[ Post Reply | Private Reply | To 88 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson