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Old 08-05-2019, 01:50 PM
 
Location: Illinois
30 posts, read 7,153 times
Reputation: 20

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Quote:
Originally Posted by EllieKay56 View Post
We currently live in north-central WI. Not retired yet but after looking at 5th wheels I told DH I could be persuaded to sell the house and get a 5th wheel and a vehicle to tow it. Winter where it is warmer. We own 40 acres of farm land in WI. So in the summer park on the land. I don't know if we would ever really do it but it brings some good discussions.
My brother and his wife will retire in 3 years. Sell the house in Chicago. They own a condo in Florida and have a farm in WI. Plans are for Florida for about 8-9 months and 3-4 spring/summer months in Wisconsin.
That sounds like a good plan. We also intend to get an RV right before retirement.


We haven't looked too much at where specifically we will live but we know the region. WI/MN for sure as my wife has family near Winona, MN and she wants to be close to them. Winters/majority of the year likely in Texas--one of the Gulf Coast beach towns, just not sure which one yet.
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Old 08-05-2019, 04:03 PM
 
Location: Haiku
4,399 posts, read 2,663,218 times
Reputation: 6466
Quote:
Originally Posted by jlawrence01 View Post
It is incumbent on YOU to establish residency in the state that you are going to move to. Some of the factors include:

1) Where you own property.
2) Where you actually live - how many months per year.
3) Where you vote
4) Where you register your vehicles.
This ^^^^ is not exactly correct. Residency in one state does not automatically exclude you from residency in another state. Each state has its own rules on who they consider to be a resident and it is entirely possible to be a resident of more than one state. If you are going to spend time in any state on a regular basis you need to check that state's tax laws.

We used to snowbird and went through this. It gets tricky. And be very careful about renting out a home you live in part of the year as it can set you up to not get the $500k exclusion on Fed capital gains when you sell the house.

We got sick of the whole thing and sold the 2nd home and quit snowbirding.
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Old 08-07-2019, 09:04 AM
 
14,188 posts, read 7,586,342 times
Reputation: 25979
Quote:
Originally Posted by TwoByFour View Post
This ^^^^ is not exactly correct. Residency in one state does not automatically exclude you from residency in another state. Each state has its own rules on who they consider to be a resident and it is entirely possible to be a resident of more than one state. If you are going to spend time in any state on a regular basis you need to check that state's tax laws.

We used to snowbird and went through this. It gets tricky. And be very careful about renting out a home you live in part of the year as it can set you up to not get the $500k exclusion on Fed capital gains when you sell the house.

We got sick of the whole thing and sold the 2nd home and quit snowbirding.

Not really.


You can only have one driver's license. You can only be registered to vote in one place. If you don't have earned income, your state income tax obligation (if any) is in the state where you declare as your permanent residence. Generally, the only time a state can chase you for taxes is if you spend more than 180 days per calendar year in the state. I own two vacation homes. I don't declare either as my legal address. Lots of people own vacation homes in both of those towns so it's not anything out of the norm. You pretty much won't ever see me at my winter ski place in the summer. It's totally shut down. Same for my summer place on salt water in the winter. Heat is down to 50F. Mail is seasonally forwarded. You can look at my electric bill at either place and see that I'm not there.
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Old 08-07-2019, 09:19 AM
 
Location: Haiku
4,399 posts, read 2,663,218 times
Reputation: 6466
Quote:
Originally Posted by GeoffD View Post
Not really.


You can only have one driver's license. You can only be registered to vote in one place. If you don't have earned income, your state income tax obligation (if any) is in the state where you declare as your permanent residence. Generally, the only time a state can chase you for taxes is if you spend more than 180 days per calendar year in the state.
We used to have two houses, one in Hawaii, one in Washington. Hawaii classifies homeowners into 3 categories: non-resident, part-time resident, and resident. We spent less than 180 days a year in Hawaii and were counted as part-time resident that owed income tax. The fact that we were residents of WA with WA drivers license and voters there did not get us out of paying Hawaii tax.

I believe you are confusing residency with domicility. You are domiciled in only one state, whichever you declare as your primary residency but each state defines who they consider to be taxable residents. But Hawaii does not use domicilty to determine who owes taxes, it uses their own definition of residency.
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Old 08-07-2019, 09:24 AM
 
Location: Rust'n in Tustin
2,349 posts, read 2,466,964 times
Reputation: 4388
I haven't read all the pages up to here, but has anybody talked account Medicare Advantage plans versus supplement plans?

My understanding is Advantage plans don't cover you outside of your local network. Do I have that correct?
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Old 08-07-2019, 09:35 AM
 
14,188 posts, read 7,586,342 times
Reputation: 25979
Quote:
Originally Posted by TwoByFour View Post
We used to have two houses, one in Hawaii, one in Washington. Hawaii classifies homeowners into 3 categories: non-resident, part-time resident, and resident. We spent less than 180 days a year in Hawaii and were counted as part-time resident that owed income tax. The fact that we were residents of WA with WA drivers license and voters there did not get us out of paying Hawaii tax.

I believe you are confusing residency with domicility. You are domiciled in only one state, whichever you declare as your primary residency but each state defines who they consider to be taxable residents. But Hawaii does not use domicilty to determine who owes taxes, it uses their own definition of residency.

I haven't encountered that in my part of the country. I'm in drive-to vacation home country. Vermont isn't going to chase every ski resort home owner for taxes when most are only there on winter weekends and earn their living in the flatlands. It would kill the tourist industry and Vermont is highly reliant on tourism. Massachusetts isn't going to chase every Cape & Islands vacation home owner for state income taxes. Again, it would crush the tourist industry.


In both those places you see lots of Florida license plates in the summer. Snowbirds who declare Florida as their address.
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Old 08-07-2019, 10:08 AM
 
187 posts, read 69,418 times
Reputation: 246
We are retired and have just purchased a place in FL in a 55+ community and spent 6 months there last winter. Our home in IL is a condo so maintenance was taken care of in both places. We will eventually be full time in FL in a couple of years. No regrets so far!
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Old 08-07-2019, 12:22 PM
 
Location: Central NY
4,733 posts, read 3,297,878 times
Reputation: 12218
Quote:
Originally Posted by ysr_racer View Post
I haven't read all the pages up to here, but has anybody talked account Medicare Advantage plans versus supplement plans?

My understanding is Advantage plans don't cover you outside of your local network. Do I have that correct?



I have an Advantage Plan (I could not afford the Supplemental).

When the medical service you receive is done by an in-network provider (as listed by your insurance provider), charges are covered 80% (you pay 20%).

If you see a medical provider who is not in-network, you will be responsible for 100%.

This is how I interpret it. I'm sure there is someone who can provide more (and better) information.
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Old 08-07-2019, 02:05 PM
 
Location: Haiku
4,399 posts, read 2,663,218 times
Reputation: 6466
Quote:
Originally Posted by GeoffD View Post
I haven't encountered that in my part of the country. I'm in drive-to vacation home country. Vermont isn't going to chase every ski resort home owner for taxes when most are only there on winter weekends and earn their living in the flatlands. It would kill the tourist industry and Vermont is highly reliant on tourism. Massachusetts isn't going to chase every Cape & Islands vacation home owner for state income taxes. Again, it would crush the tourist industry.


In both those places you see lots of Florida license plates in the summer. Snowbirds who declare Florida as their address.
There is a large part time population in Hawaii so the state had to do this, plus it has super low property tax so relies heavily on income tax for revenue. I don't like paying taxes any more than anyone else but I can see why the state is going after part-timers. Part time residents use state resources, they drive on state highways, etc. so I don't blame the state for wanting them to pay towards those things. For us, we are now full timers so it is all water under the bridge.
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Old 08-07-2019, 06:23 PM
 
Location: Rust'n in Tustin
2,349 posts, read 2,466,964 times
Reputation: 4388
Quote:
Originally Posted by NYgal1542 View Post
I have an Advantage Plan (I could not afford the Supplemental).

When the medical service you receive is done by an in-network provider (as listed by your insurance provider), charges are covered 80% (you pay 20%).

If you see a medical provider who is not in-network, you will be responsible for 100%.

This is how I interpret it. I'm sure there is someone who can provide more (and better) information.
I get that part, I guess what I'm asking is, if you're a snowbird for four or five months, how do you handle your healthcare?
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