MARK KOHLERMain Street Professionals, Main Street Professionals, Main Street Professionals, Main Street Professionals, Main Street Professionals, LLC · Owner at Main Street Professionals, LLC

Want To Avoid Taxes? | Just Move!

9 Nov 2022 · 0 min

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Moving to a low-tax state doesn't guarantee savings if property and sales taxes are higher. Retirement income is taxed differently everywhere. Compare your total cost of living and actual tax burden before you move.

There's a lot that goes into moving and establishing residency in another state for not just for income tax purposes, but for your cost of living. Just because they're low state income tax doesn't mean they're friendly when it comes to property tax or sales tax. We're tax and income, but not retirement plan distribution incomes, of course. Or there's more bang for your buck, if you will, in tax savings by going to another state.