Article on NY audits of Florida tax refugees
- Thread starter Kroeran
- Start date
Makes sense. Thanks. I left MN in 1994. Law was passed in 1996 effective YE1995.
I've lived in 3 states since then, all with an income tax. Just imagine the paper work required to track where each dollar in an IRA/401k/pension was earned. And then which state gets to claim what % of the investment earnings on that % of the deferred income earned in a given state... You'd almost have to have a separate retirement account for each state you lived in.
Given that laws are just ink on paper limited only by the imagination of the author... I wouldn't be surprised if someplace like Illinois lobbied to get the law changed back. A sympathetic administration/congress would go along with it to avoid having to fund the bailout and "make the dirty tax evaders who moved away pay their fair share".
NYEXPAT
Thinks s/he gets paid by the post
I return several times a year and am in the process ( was at US Embassy this morning) of moving back to the USA. NYS will never know and the IRS does not care as long as I follow the rules you quoted as interpreted by me.
Dash man
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Well, what about your sink holes?
Sinkholes are one of the reasons we moved our winter home from the Tampa area to just north of Ft Lauderdale. We had a rental in Tampa that had a sinkhole open in the parking lot in front of the townhouse. Another opened a short distance from our winter home and another near my sister-in-law’s home. We love SE Florida much more than the Tampa area too, so it was a good move.
IIRC, in another thread a few weeks ago, NYEXPAT mentioned coming back to the US in a year or so.
omni
pb4uski
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I think they will expect you to follow the rules as interpreted by them (the IRS), not as interpreted by you. Seems you may have some failure to file risk unless your income was such that you were not required to file.
copyright1997reloaded
Thinks s/he gets paid by the post
This is certainly true for professional athletes. For them, income earned while playing at home is taxed wherever that stadium is. Endorsements and other income, wherever their residence is. And while on the road, those locations also. Now they do get a credit on the home tax state for taxes paid to states on the road, but that is capped to their home states max rate. So if your home state is Florida (let's say you play for the Tampa Lightning (NHL)), you get to pay NY State rates on your away games with the Rangers and Islanders.
Dtail
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Haven't been there, but as you know there is a wealth of great bagel/Italian food places in Manhattan and Brooklyn.
truenorth418
Full time employment: Posting here.
I relocated to Florida from New York City last year. After almost 20 years in NYC, I sold my apartment and left for good.
Since I have been early retired for several years, most of my income now is dividends and interest, so I was no longer paying a ton of state and city income taxes as a resident of NYC. But, in my experience, the public services were declining significantly along with the quality of life. A homeless camp had been created around the corner from my apartment building, The subways, roads, and other services that I relied on had been declining for years.
And frankly there was a political element. I will avoid going into details about that, out of respect for the forum rules, but both the mayor of NYC and the governor have made it clear that they don’t value people like me. In fact, several years ago the governor of NY actually stated that people with political opinions like mine were not welcome in the state.
Why should I continue to give my money to people who hate me?
There is an expression I like: “Go where you’re treated best.”
So that’s what I did.
Since I have been early retired for several years, most of my income now is dividends and interest, so I was no longer paying a ton of state and city income taxes as a resident of NYC. But, in my experience, the public services were declining significantly along with the quality of life. A homeless camp had been created around the corner from my apartment building, The subways, roads, and other services that I relied on had been declining for years.
And frankly there was a political element. I will avoid going into details about that, out of respect for the forum rules, but both the mayor of NYC and the governor have made it clear that they don’t value people like me. In fact, several years ago the governor of NY actually stated that people with political opinions like mine were not welcome in the state.
Why should I continue to give my money to people who hate me?
There is an expression I like: “Go where you’re treated best.”
So that’s what I did.
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As long as you continue to hold a U.S. passport you should have been filing a Federal return.
NYEXPAT
Thinks s/he gets paid by the post
Just noticed your location. My parents (NY'ers) are buried in Bushnell. I try to visit once or twice a year and love the serenity there. They left NY for much the same reasons. Enjoy your new life!
NYEXPAT
Thinks s/he gets paid by the post
Managed to find a few on S.I. a few months ago as well! Unfortunately, Ponticello's restaurante in Astoria ( ate there weekly for 20 years) closed down a year ago or so.
NYEXPAT
Thinks s/he gets paid by the post
I hate when people post BS like this on the internet! I remember when people would post stuff like this on other forums about not being able to collect SS. What a crock!
pb4uski
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Can you elaborate on where the BS is? All I see is this:
Assuming your gross income is low enough then? I've had to receive international tax consultancy service for my situation before, but we may at other ends of the deduction/credit thresholds.
NYEXPAT
Thinks s/he gets paid by the post
Well, lets all hope their expectations are not to high, as they will be sorely disappointed. The only income I receive is SS and the usual kindness from strangers both of which due not require filing. On the other hand YW is not a citizen/resident of the USA and I understand she has to pay taxes to her home country at what amounts to less than 5%. Which, IMHO is more than fair considering we do not get many "potholes" and I do not drive on the roads,anyway.
NYEXPAT
Thinks s/he gets paid by the post
I was quoting a different post than yours!
NYEXPAT
Thinks s/he gets paid by the post
Definitely, I have no income other than SS and as I do not file, no credits or deductions either.
Koolau
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I had no problem leaving my old state of residence. I do still pay a small amount of tax in the old state due to a small business I still have an interest in. But they know where I live!
Interesting that the states I would be the most reluctant to be taxed by are the ones most aggressive in chasing down cheats (and honest "movers.") I'll leave it at that as YMMV.
Interesting that the states I would be the most reluctant to be taxed by are the ones most aggressive in chasing down cheats (and honest "movers.") I'll leave it at that as YMMV.
LOL!
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Yes, all year 'round.In January?
pb4uski
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
But it was the same idea. I think I get it now... you lived abroad and only income was SS which would be not taxable since you had no other income so you were not required to file.... so you didn't file... that's your story and you are sticking to it!
It would have made things a lot easier to understand if you had put that in to begin with.
Just because he's wealthy doesn't mean he should be robbed
Sometimes it can get insane. It cost Peyton Manning money to play in the Super Bowl.
https://www.forbes.com/sites/kurtba...p-all-of-peyton-mannings-super-bowl-earnings/
Not to mention whatever these guys pay their accountants to weed through all the confusion.
Sometimes it can get insane. It cost Peyton Manning money to play in the Super Bowl.
https://www.forbes.com/sites/kurtba...p-all-of-peyton-mannings-super-bowl-earnings/
Not to mention whatever these guys pay their accountants to weed through all the confusion.
NYEXPAT
Thinks s/he gets paid by the post
Yes, let's go with that!
That would be like telling you the "punchline" of the joke first?
JoeWras
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The Science Channel just started a series on sinkholes. It is a lot of repetition, but has interesting moments. As you can imagine, the Tampa area is prominently featured in their segments. I think it is produced in the UK, and it turns out there are areas there too, especially around Ripon England.
What I did learn about Florida sinkholes is that there are some really slow sinkers that cause havoc on buildings. You know, cracked walls, etc. Not necessarily a full-on hole that swallows, but a slow sinker that ruins your property until remediation is instituted. There are flippers that buy these houses for fractions of real value and try to remediate them to sell. Buying those sounds mighty risky to me.
Dash man
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I had bought a foreclosure townhouse and put about $10k into it. After renting it for about a year, the sinkhole appeared in the parking lot and apparently reached under my townhouse and three others. Insurance for the association covered the remediation, except for my floor coverings. I had to replace those since they drilled through linoleum and tile. Once that was done, Since my tenants moved out, I put it up for sale or lease with full disclosure. It sold in one day for my asking price which covered all my improvements plus original purchase. Counting rent received, I also covers sales costs, insurance and taxes. It was a lot it work, but I considered it dodging a bullet and getting out of a headache.
