U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
 
Old 03-06-2011, 04:11 PM
 
1,155 posts, read 1,330,471 times
Reputation: 698

Advertisements

Hi,

I was thinking of buying a house in florida. Right now I live in MA.

If I am a permanent resident of FL, but maintain my house in MA I could save big time on taxes. State Income tax on dividends and investments.

How does the state check that you live >6 months out of the year in FL? It seems like it would be tuff to get caught.
Reply With Quote Quick reply to this message

 
Old 03-06-2011, 05:54 PM
 
Location: Florida
553 posts, read 535,150 times
Reputation: 337
The state would say you lived in MA and ask you to prove where you were on each day of the year. The problem is yours to prove, not theirs.
However, getting your drivers license in FL, changing all mail to Florida, and actualy living in Florida for 183+ days should work. Actualy you should be out of MA for 183 days. The key is that you let everyone know that you consider Florida your home and not MA. Redo your will.
If you actualy live outside of MA for 183 days I would not worry. You will also want to file for the Fl homestead credit for realestate taxes. Title your cars in FL. etc. etc. Since you will have a home in MA you will have to file a non resident income tax return.
Reply With Quote Quick reply to this message
 
Old 03-06-2011, 07:50 PM
PDD
 
Location: The Sand Hills of NC
5,942 posts, read 6,221,649 times
Reputation: 6715
I would claim main residence for the state with the lower state income tax which I assume is Florida.
You should be able to have all you MA bills sent to you Fl address. I don't think anybody is going to come check on your address to see if your home. Register to vote in FL and don't vote in MA.
Reply With Quote Quick reply to this message
 
Old 03-07-2011, 12:49 AM
 
Location: We_tside PNW / CO / SA TX / Thailand
11,268 posts, read 18,932,579 times
Reputation: 8137
Drivers License, voting, vehicle licensing, insurance base, Utility connections and usage, Credit card activity, banking transactions... That is all used in Domicile determinations. Just declare South Dakota; zero state income tax and a 1 night / yr domicile requirement. A favorite among fulltime RV'rs Mont = (no sales tax), where they prefer to register vehicles.

Quote:
actualy live outside of MA for 183 days I would not worry
listen to this, and heed...
Reply With Quote Quick reply to this message
 
Old 03-07-2011, 08:43 AM
 
Location: Baltimore
1,749 posts, read 4,495,281 times
Reputation: 1610
If you keep your home in MA, that could cause problems. The law states that a person may only have one domicile, and that in order to establish a new domicile you must prove that you have abandoned the old one. I'm not saying that it's an impossibility, especially if you change your driver's license, car registration, bank accounts, voter's registration, etc. I'm just saying that if you keep your current home, it will be more difficult to prove.

I don't know how aggressive your home state is with this type of thing, but many states really look closely at this, especially when the individual is attempting to prove that he or she is domiciled in a state that does not impose an income tax.
Reply With Quote Quick reply to this message
 
Old 03-07-2011, 02:34 PM
 
3,216 posts, read 3,633,855 times
Reputation: 2402
there are many wealthy people who have multiple homes...in different states. so I think the law is that they have to declare one "primary" residence.
Reply With Quote Quick reply to this message
 
Old 03-07-2011, 05:37 PM
 
13,565 posts, read 23,049,866 times
Reputation: 9962
If you buy a home in FL and don't declare it as your primary residence and live there more than 6 mos you can not declare homestead exemption. Instead of paying 3K for instance you will be paying 13K in property tax. So what about your house in MA what will the Property tax be there if you do not declare it as your primary residence?
__________________
"
You think dogs will not be in heaven? I tell you, they will be there long before any of us.
Robert Louis Stevenson

********************************
Post link not copyrighted material
Reply With Quote Quick reply to this message
 
Old 03-07-2011, 06:03 PM
 
1,155 posts, read 1,330,471 times
Reputation: 698
Quote:
Originally Posted by Keeper View Post
If you buy a home in FL and don't declare it as your primary residence and live there more than 6 mos you can not declare homestead exemption. Instead of paying 3K for instance you will be paying 13K in property tax. So what about your house in MA what will the Property tax be there if you do not declare it as your primary residence?
Well the house in FL will only cost 170K. I think property taxes are about 2K.

13K for property taxes? I'm not really that rich.

The house in MA is worth about 300K, property taxes are around 3.5K.
Reply With Quote Quick reply to this message
 
Old 03-08-2011, 10:56 PM
 
592 posts, read 942,690 times
Reputation: 488
Will your MA taxes go down if you declare your FL residence as primary? If so, how much will they go down?

We moved to FL as our primary home from NY. We get a homestead exemption here in FL now, but that doesn't mean our NY taxes would be any lower. In fact, they'd be higher because we would no longer qualify for the NYS Star program because NY is NOT our primary residence any longer. Our NY taxes would actually be increased by approximately $1,000 if we still owned a home there. That's why we only rent up there!!
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Similar Threads

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top