State Income Tax Secrets: Keep More of Your Money!

3 Apr 2024 · 1 min

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In this brief YouTube segment, the presenter highlights the advantage of living in states without a personal income tax, such as Tennessee and Florida, contrasting them with states like North Carolina that do levy an income tax. She then outlines a simple budgeting framework: a combined federal‑and‑state tax account for handling tax obligations, and a separate "G" (giving) account for charitable or community contributions, which could range from a church tithe to donations for shelters. The speaker wraps up with a mindset tip, urging viewers to adopt an abundance mentality—letting money circulate freely to attract more, rather than hoarding it, which she likens to an angry teenager who disappears.

Chapters

If you live in Tennessee or Florida, you can start laughing at all of us who pay state income tax, 'cause you don't have a state income tax, and we're jealous, we know it. North Carolina, like many other states, has a state income tax. So this account would be your federal and your state. And then the last one, we're gonna call that the G, the giving account. For me, that's a tithe account. For you, that might be the battered women's shelter, it might be the homeless shelter. It's just where you're gonna do something good, something expansive with your dollars. 'Cause I'm gonna tell y'all a little secret about life here. If you want your money to grow, grow, you have to think in that term of abundance and know that if you turn it loose, it will come back to you with friends. But if you hold it tight, it will be like an angry teenager who runs away and you never hear from again.