Establishing residency when moving
August 22, 2019
I’m Miriam Neff-with STARTING OVER FINANCIALLY, and I’m Valerie Neff Hogan, Lets talk about money
M We’re seeing increasing differences between states in tax rates. Our state has high property taxes, increasing income taxes, tax on gas, plastic bags and loads of things we buy regularly.
V Not surprising, people are moving out. If you move, establish residency in your new state quickly. Once you do that, the state you moved from can only grab taxes from what you earned IN that state. Establishing residency means creating as many ties as possible. Owning a home and living there 6 months, opening a bank account, utility bills, credit card, drivers license, and voting registration.
M Remember all you have is God’s, on loan to you. Where you live matters. Decide wisely where God would like those dollars to go.