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Old 02-21-2010, 03:47 PM
 
17,297 posts, read 25,711,927 times
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Self employed?

Do yourself a favor and save on income taxes and sales tax and move to Florida. One poster who used to be here moved from California and saved himself 100k/year in income taxes.

Florida is very diverse geographically and culturally. You can find a condo in the middle of South Beach and all it offers, or go for a secluded locale on barrier island along the Central Florida Coast.

You can find condos in Beach front buildings in Palm Beach starting in the 100s. Unless you need mountain activities or crave the desert, I vote Florida.
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Old 02-21-2010, 03:53 PM
R66 R66 started this thread
 
Location: Miami, Florida / Marina del Rey, California
145 posts, read 362,586 times
Reputation: 95
Quote:
Originally Posted by TriMT7 View Post
Self employed?

Do yourself a favor and save on income taxes and sales tax and move to Florida. One poster who used to be here moved from California and saved himself 100k/year in income taxes.
TriMT7, Good point.
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Old 02-21-2010, 06:59 PM
 
5,969 posts, read 7,750,891 times
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Quote:
Originally Posted by TriMT7 View Post
Self employed?

Do yourself a favor and save on income taxes and sales tax and move to Florida.
Not having income taxes is not always good.

7-states-with-no-income-tax: Personal Finance News from Yahoo! Finance
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Old 02-22-2010, 02:08 PM
 
17,297 posts, read 25,711,927 times
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Originally Posted by DailyJournalist View Post
What argument or correlation are you trying to make with your link? If the point was budget shortfalls, how do we explain CA, which has both an income tax, AND budget shortfalls? BTW... CA's budget shortfall is roughly 20 billion vs. Florida's roughly 3 billion. That's a much greater percent shortfall per capita.

The OP is self employed. So long as his business is not dependent on geographical confines, then he can move anywhere. Why not move where you can maximize income savings, especially for those that can save significantly without the 10% take from the state?

Compared to Florida, California has lower property taxes (approx 1% compared to 2% of assesed value), but much higher home prices. CA also has a much higher sales tax and energy taxes. Depending on where you live in SoCal, insurance prices can also rival coastal Florida, given exposure to earthquakes and firestorms.
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Old 02-22-2010, 05:34 PM
 
15,208 posts, read 31,172,185 times
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Quote:
Originally Posted by TriMT7 View Post
What argument or correlation are you trying to make with your link? If the point was budget shortfalls, how do we explain CA, which has both an income tax, AND budget shortfalls? BTW... CA's budget shortfall is roughly 20 billion vs. Florida's roughly 3 billion. That's a much greater percent shortfall per capita.

The OP is self employed. So long as his business is not dependent on geographical confines, then he can move anywhere. Why not move where you can maximize income savings, especially for those that can save significantly without the 10% take from the state?

Compared to Florida, California has lower property taxes (approx 1% compared to 2% of assesed value), but much higher home prices. CA also has a much higher sales tax and energy taxes. Depending on where you live in SoCal, insurance prices can also rival coastal Florida, given exposure to earthquakes and firestorms.
Another great post from TriMT7. ^^^
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Old 02-23-2010, 10:43 AM
 
770 posts, read 751,204 times
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If your income is fixed, Florida. I adore Socal and dislike Florida in general, and even with these biases I say Florida if your income is fixed.


You can live like a king in South Florida on the water for what you'd pay for a rough neighborhood in San Diego.
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Old 02-23-2010, 10:57 AM
 
Location: Los Angeles......So. Calif. an Island on the Land
736 posts, read 2,010,957 times
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Both areas have their appeal......here's are just a few things that come to my mind:

So. Fla. - Good Points
1. warmer winters
2. warmer ocean
3. less traffic
4. cleaner air
5. Lower cost of living

So. Calif. - Good Points
1. Better climate overall
2. EXTREMELY DIVERSE geography = more diverse hobbies to pursue
3. Property taxes are capped after you purchase something.
4. More diverse economy
5. More diverse artistic and cultural amenities.
6. Closer to Hawaii = my idea of paradise
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Old 02-23-2010, 12:29 PM
 
Location: Niceville, FL
7,686 posts, read 16,115,889 times
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Propertry taxes in Florida are also capped on homesteaded primary residences.
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Old 02-24-2010, 12:23 AM
R66 R66 started this thread
 
Location: Miami, Florida / Marina del Rey, California
145 posts, read 362,586 times
Reputation: 95
Quote:
Originally Posted by Island_OnThe_Land View Post
So. Fla. - Good Points
1. warmer winters
2. warmer ocean
3. less traffic
4. cleaner air
5. Lower cost of living

So. Calif. - Good Points
1. Better climate overall
2. EXTREMELY DIVERSE geography = more diverse hobbies to pursue
3. Property taxes are capped after you purchase something.
4. More diverse economy
5. More diverse artistic and cultural amenities.
6. Closer to Hawaii = my idea of paradise
Island_OnThe_Land -

Excellent analysis! But my income not fixed. For me, Taxes does not apply. The only advantage might be that in Florida I can homestead my Crib. California seems to be higher all-around in Taxes but I'm used to high property taxes living most of my life in a college town (in Florida). I agree the fun factor in NorCal or SoCal prolly better than SoFL but traffic is much less in Miami area and cleaner air, better beaches, attractive Latin/Brazilian women and for traveling to Latin America Miami is pretty good. Frankly, I'd like to find a small town outside a major city. Heard good things about Huntington Beach in Orange County. Or maybe down past San Clemente between Orange County and San Diego. NorCal might be to cold but no one can argue about the natural beauty, climate and cultural options in the Bay Area. I got friends married w/kids out in Riverside, Moreno Valley area. Not sure if I could live way out there! Being single, 44 years old, no kids I want to be among like minded people. I'm no party animal. I like the quiet life.

Brickell Key is a small island off downtown Miami... Brazilians, Italians, Espanolos, Colombians, you name it. All upscale folks. it's a little paradise. Heck, I could buy a nice Condo on BK for under $200k. 180 view of Biscayne Bay and all the stuff that goes with that.

Have a nice evening everyone!

Last edited by R66; 02-24-2010 at 12:32 AM..
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Old 02-24-2010, 01:50 AM
 
26,134 posts, read 28,529,259 times
Reputation: 24854
Quote:
Originally Posted by DailyJournalist View Post
That's true. However, in California we have high taxes and still have mediocre to poor public services. And it's not just me saying that. The LA Times recently cited a number of academics who basically said the same thing. Since professors tend to think high taxes are wonderful, that's quite an admission.

The Golden State isn't worth it - Los Angeles Times
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