Requirements to Change State of Residency
BSMG
Retirement,
Estate Planning,
Tax Planning,
Tax Strategies,
Retirement Planning Strategies
No Comments
11 Jul 2017
It’s Not as Easy as You Think...
Wealthy clients from high tax states will often consider moving to a lower taxed state to save taxes. These taxes may involve state income taxes and state estate taxes. You may have heard people say “If I live for more than 180 days in a particular state, then my residence has been changed for state taxes”. This statement has a small degree of truth to it, but it is far from accurate.
The first tax to talk about are state income taxes on retirement benefits. Then, we’ll talk about state estate taxes. Finally, we’ll enumerate the hurdles to jump over when thinking about changing legal residence from the current state of residence to a new state of residence.
Read More[On-Demand Webinar] How will the Current Administration Effect the Life Insurance Industry?
BSMG
Life Insurance,
Tax Strategies,
Tax Benefits
No Comments
12 Apr 2017
What are the potential effects the current administration could have on your business and the U.S. Economy?
Read More
Taxes on Retirees State by State
BSMG
Tax Planning,
Tax Strategies
No Comments
13 Apr 2016
Have you ever wondered how your state stacks up against others when it comes to taxes on retirees. We found this great interactive map by kplinger.com that shows you how the states compare.
This detailed map lays out taxes on retirement income, property, purchases and tax breaks. Check out some of the stats we found below.
Read More3 Major Trends Pushing Advisors to Employ Innovative Tax Strategies
BSMG
Tax Season,
Tax Planning,
Tax Strategies
No Comments
30 Mar 2016
Here are the three major trends our advisors are experiencing this tax season.
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