{"id":11298,"date":"2019-06-20T14:00:00","date_gmt":"2019-06-20T14:00:00","guid":{"rendered":"https:\/\/hwsmarketindev.wpengine.com\/2019\/06\/20\/blog-consider-the-taxes-if-you-move-for-retirement\/"},"modified":"2026-05-30T03:52:47","modified_gmt":"2026-05-30T03:52:47","slug":"blog-consider-the-taxes-if-you-move-for-retirement","status":"publish","type":"post","link":"https:\/\/www.homeworksolutions.com\/es\/2019\/06\/20\/blog-consider-the-taxes-if-you-move-for-retirement\/","title":{"rendered":"Consider the Taxes if You Move for Retirement"},"content":{"rendered":"

\"retirement<\/p>\n

Many people look to move to another state in retirement. There are lots of good reasons to do this but make sure to check the tax obligations first. Here are some tips to think about before moving.<\/p>\n

Find Out the Full Tax Picture<\/strong><\/p>\n

Heading to a state with no personal income tax, like Florida, might seem like an easy decision but that isn\u2019t always the case. You\u2019ll want to take into account other taxes like property and sales tax.<\/p>\n

It\u2019s also worth checking what types of income are or aren\u2019t taxed. Some states don\u2019t tax Social Security but might tax interest or dividend income.<\/p>\n

Estate Tax <\/strong><\/p>\n

If this is your last planned move then what happens to your money after you\u2019re gone is worth considering as well. The new federal estate tax levels might be above a majority of people ($11.4M single or $22.8m married) but states might have a much lower level. There may also be inheritance tax levied.<\/p>\n

Remember to Establish Domicile <\/strong><\/p>\n

If you aren\u2019t a legal resident of your new home you could get stuck paying taxes in both your new and former states. Obviously you\u2019ll want to avoid that. The way to do that is by establishing legal domicile \u2013 going all in on your new state and cutting ties with your old one. While the rules change from state to state here are a few general things you can do to help ensure you don\u2019t get double taxed:<\/p>\n