For individuals living in high tax states such as California, New York, or Connecticut; states with no income tax may seem like a mythical beast. Could such a wonderful land actually exist? They do, and there are plenty of them. However, before you decide to pick up and move to one of these bastions of economic freedom, there are a few things to consider. Continue reading Are States With No Income Tax Better For You?
Cost of living news
Florida has always been a popular destination for individuals looking to escape high-tax states. However, with the new tax overhaul set to take effect, the Florida tax haven is looking even more enticing now. Continue reading The Florida Tax Haven Is Looking More Enticing Now
There’s a lot of residents moving out of Vermont these days. In 2016, the state lost 16,500 residents to other states. Taxes are partially to blame, but the trend is somewhat troubling. Vermont has seen a net loss of residents for the past 10 years. Continue reading More People Moving Out Of Vermont Than Moving In
Seven hypothetical scenarios provide a sense of the impact you can expect on your personal budget from impending tax rate changes.
The new Seattle tax on wealthy residents is illegal, according to the courts. The tax imposed a 2.25% tax on total income above $250,000 for individuals and above $500,000 for married couples filing jointly. Continue reading Judge Says New Seattle Tax on Wealthy Is Illegal
Continuing a trend of high salaries, The Detroit Lions’ Matthew Stafford agreed to a deal that will make him the highest paid player in NFL history. While he’s certainly celebrating, he won’t be once Michigan income taxes take a sizable chunk. Continue reading Stafford Inks Big Deal: Michigan Income Taxes Take a Chunk
The Oakland Raiders football team used the income tax savings to convince Derek Carr that he’s earning more from his salary in another city while the team pays out less. Continue reading Derek Carr’s Salary in another City Saves Him Millions
Thanks to its astronomically high cost of living, including one of the highest state income taxes, Hawaii is the worst state in the country to make a living in.