Move to Fla. for warm weather, better tax conditions MIAMI – Jan. 15, 2015 – Atlantic Trust, a private wealth management division of CIBC, advises clients to move to Florida to save on taxes. Florida has no individual income tax, so many of our clients who live in states that have a high state income tax consider moving to Florida in order to avoid that level of taxation, says Linda Beerman, chief fiduciary officer for Atlantic Trust. Florida has long been a popular destination for clients who are retirees because there is no state estate tax as well. One of the issues individuals can face is continued income tax assessments from their former state even though theyve moved away. Therefore, its important for people who relocated to Florida to establish conclusively that they have changed their domicile.
Posted on: Thu, 15 Jan 2015 21:31:55 +0000
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