Tag Archives: Moving to Florida

Attention Snowbirds!!

Many states are beginning to aggressively challenge the domicile of individuals who claim to no longer live in a state that they have ties too, such as a home or business. Challenges to your domicile status by your former state can eat up time, money and cause emotional destress.

The main reason a state would challenge your domicile status is of course, money. Your former state would like to continue claiming you as a resident and tax you on all of your income; in states suffering from a large deficit this is ever more prevalent.

Domicile disputes can happen to anyone, from a retired couple in their 60s who passed down a family business to their children to former Yankee, Derek Jeter. In both situations the  former New Yorkers were forced to pay back taxes on all of their income to the state of New York because they did not properly declare domicile in Florida.

If they had properly declared Florida domicile they could only have been taxed for income sourced in their previous state.

With The Florida Domicile Handbook you can learn how to properly declare domicile and avoid a potentially costly legal battle and the headache that comes along with having your resident status challenged by your former state.

Benefits of Moving to Florida From a high-tax State

I recently stumbled across an article that articulates the basic thesis of The Florida Domicile Handbook; and this article touches base on many of the things that are explained in-depth in The Florida Domicile Handbook.

Some of these advantages include:
• No Income tax
• An Array of Asset Protection
• Healthy Real Estate Market
• Homestead Exemption
• No State Estate Tax

One of the key takeaways from this article and the book is that the process of declaring domicile in Florida can make your life more enjoyable all across the board. The weather provides year-round access to the outdoors and endless opportunity for recreation, the vibrant wildlife and beautiful scenery can be found no where else in the world and the tax codes help keep a little more money in your pocket. Click here to read the article, and pick up your copy of The Florida Domicile Handbook for a step by step guide of your move to paradise.