Employers that allow their employees to telecommute across state lines may be at risk for exposing their company to additional tax filings. Each state has a different set of rules for establishing nexus or “doing business” in their state, but there are a few general principles to follow. Read More.
This past year we received over 850 state tax questions related to employees living in one state, but working in another. The big concern is that they will have to file and pay taxes in both states. Fortunately, some states have reciprocal agreements in place to alleviate this tax burden. Read More.
In the past, we’ve highlighted the most tax friendly states for retirees. We thought we should also identify the least tax advantageous states for all individuals. It should come as no surprise that California is at the top of the list for having the highest taxes in multiple areas. The other states may surprise you as well. Read More.
The mainstream population always seems to view Florida as the best retirement destination. In many respects, most of the population is correct in that it is one of the most desirable places to live during your retirement. However, it’s not the most tax-friendly state when you review all of the other states. Read More.
Congress and the President still have time to act to prevent tax increases across the board in 2013. Still, the consensus suggests that at least some tax breaks will be reduced or eliminated in 2013 and many will likely pay higher taxes. The tax foundation recently performed an analysis by state to identify how families earning median incomes will fare with a seemingly new tax landscape in 2013. Are you living in state that’s likely to experience a steep tax increase? Read More.
For those living in the Northeast, the common practice is to move to Florida during your retirement years since there is no state income tax and the weather is warm. However, that’s not necessarily the best course of action for all retirees as their specific set of circumstances should play a large role in this decision. Which state should you retire in for tax purposes? Read More.
Californians seem to get no breaks. State income tax refunds still have not been issued to both individuals & businesses due to the State’s “Cash Flow Problems.” That can anger many taxpayers because essentially they have given their government a loan & haven’t gotten paid back on time. So how long do these taxpayers have to wait for tax refunds? Read More.
Ah, the prospects of living on a boat traveling from port to port makes us all smile. While sailing into the sunset is a beautiful thing, unfortunately it does come with some tax questions. Read More.
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