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Is It Worth It to Move to a Low-Income Tax State to Save Money?

Started by Epoch-Times-Bot, Nov 02, 2022, 12:45 PM

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Epoch-Times-Bot

Nov 02, 2022, 12:45 PM
Is It Worth It to Move to a Low-Income Tax State to Save Money?

Many people in the United States have decided that it would be a good idea to move to a low-income tax state—or to a no-tax state—to save money. While it may sound like a good idea—it's time to find out—is it worth it?
An article from The Washington Post reported that the states that have lost the highest percentage of their taxpayers recently were the states that had the highest taxes. Those states included California, Illinois, New York, Massachusetts, and New Jersey.
Numerous professionals have made calculations over the years on the value of moving to save money on taxes. Unfortunately, they report that many people who made this move did not calculate enough other factors to accurately determine whether it was worth it or not before moving. In many cases, they only looked at one or two issues—usually whether or not a particular state charges income tax....

Source: Is It Worth It to Move to a Low-Income Tax State to Save Money?

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Aug 11, 2024, 01:06 PM
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