Bad news for people moving out of high-tax states

[Voice of Reason 10,298]

Better make sure that move is legit....

 

 

 

 

 

[Lemonslice 5,278]

I don't see how it is different than having to file taxes (and pay, if you earned over a certain amount) in the USA while being a non resident - very similar to the IRS Substantial Presence Test.  

[Voice of Reason 10,298]

1 hour ago, Lemonslice said:

I don't see how it is different than having to file taxes (and pay, if you earned over a certain amount) in the USA while being a non resident - very similar to the IRS Substantial Presence Test.  

Do you have any idea what the difference in state taxes are in NY vs. say FL, AL, OK, or TX?

[Lemonslice 5,278]

1 minute ago, Satisfied said:

Do you have any idea what the difference in state taxes are in NY vs. say FL, AL, OK, or TX?

Yes.  I know a lot more than I ever wanted to know about taxes - filing in three countries, one state and one province has been so much fun for the last 8 years. Not.  

[Voice of Reason 10,298]

2 minutes ago, Lemonslice said:

Yes.  I know a lot more than I ever wanted to know about taxes - filing in three countries, one state and one province has been so much fun for the last 8 years. Not.  

Why would you file in three countries?

[Lemonslice 5,278]

Working for an international organization, my income is taxable in country 1 and tax exempt in the US.  I also own property and get rent income in that country - file taxes there (federal and provincial level).

I own property and get rental income in a third country - where property and "living space" taxes are to be done with the federal tax declaration.

I have other income in the US and file jointly with husband - file federal and Massachusetts.  Declaring all foreign income, but not being double taxed.   Counting the days to retirement to move out, have husband resign his American citizenship and scale down on the number of tax forms we have to file

[Voice of Reason 10,298]

Wow, that is a lot of forms to file!  You have my sympathy.  I already plan to be upset when I retire and am living abroad, but will have to pay US taxes on my money.

[Lemonslice 5,278]

2 minutes ago, Satisfied said:

Wow, that is a lot of forms to file!  You have my sympathy.  I already plan to be upset when I retire and am living abroad, but will have to pay US taxes on my money.

Silver lining is that we end up paying a little less in total taxes, with my wages being non taxable in the US. Are you sure you'll end up paying taxes in the US and not only have to file?  

[Lemonslice 5,278]

What's the saying about death and taxes being the only sure things in life?

[Voice of Reason 10,298]

47 minutes ago, Lemonslice said:

Silver lining is that we end up paying a little less in total taxes, with my wages being non taxable in the US. Are you sure you'll end up paying taxes in the US and not only have to file?  

Pretty sure.  My retirement income will be US-based, even though I will be living elsewhere.