Making FL home primary while still working in NY
 

Our Fernandina house will be ready in Sept/Oct of 2013 but I will be working in NY for another 5 yrs. We'll be spending vaca's and short visits. :a040:

My question is can I claim my Fl address as primary residence while working in NY? How will the taxes work out?

One other question regarding pensions. What tax implications exist when collecting the pension in Fl??

Appreciate all the advice I can get.

No U can't, must live here over 180 days.

Believe if you have Fl as primary residence and also own in NY and work in NY
that you don't have a real good case to claim Florida Residency to avoid paying NY income taxs. Suggest talking to a tax accountant.

The federal government won't care....you get to pay federal taxes wherever you live. This is primarily an issue for you to ask of NY state tax officials, not FL state tax officials. But, in general, where you live to work is your tax home. Now, if you could "work for" your NY-based company, but work virtually via computer from your home in Florida, that would enable you to claim FL residence vice NY residence. However, if you work a traditional job and live in NY while you work, then NY is your tax residence, and the NY tax man gets his bite.

There is a concept called "tax home"-you have to pay taxes where you make your living. It does not matter where you call your home, it is where you make your income.
There is no tax implication when collecting your pension in Florida, Florida has no income tax.
This message comes to you from my CPA husband. Hope it helps.

But if you work remote living in FL, say on a computer or telephone sales and your paycheck is mailed to FL from NY or any state then I think you're ok.

.....using that premise......logic would tell me ...If one plays for the Yankee or the Knicks, (both are located in N.Y.C.),.................................

and they play HALF of their game somewhere else..( working remote ).....There is No New York State income tax for those AWAY games...???????

Also if they play FOR the NY Knicks and live in Florida.......they pay no NY State income tax, at all ?????....Just wondering....

Our friends, husband works 7 months out of the year in FL and wife works 9 months in KY each claim residence in the state that they work in

Correct, if you are working remotely in Florida you can claim you live and work in Florida. Technically, if you go to another state for meetings, say for a few weeks and are paid, you are supposed to pay taxes to that state for those few weeks but most people do not get into that detail if it is occassional. But if you are working full time in NY, that is where you pay your taxes.

Another consideration... if you own a home in NY and will be owning in the Villages. Be certain you understand the tax ramifications of making FL your primary home while still owning a home in NY; i.e., capital gains on your NY may be considerable if not your primary home when sold.

My wife and I were legal residents of Texas while I served in the Navy. While living in Hawaii, we paid Hawaii state income tax on income earned in Hawaii but not my Navy pay. My wife worked for a local company and paid Hawaii state taxes on all her income. We were required to file a Non-Resident income tax form. Texas has no state income tax. It all depends on the state law where you earn the income.

Professional athletes are a whole other ballgame (pardon the pun) Most actually have to pay taxes in their own state AND taxes in every state that they play an away game. An accounting nightmare. Here's one of several articles on that subject
The taxing life of a pro athlete - Los Angeles Times

:agree:

When I worked in Des Moines, Iowa for five years, my residence was in Missouri. I kept an apartment in DSM, but my wife lived in Mo. and I spent all my weekends (many three days) there. I paid Iowa state income tax on my income from Principal Financial Group, but I paid Missouri state income tax on my retirement income from a previous employer, because that was my primary residence.

Thank you all for your comebacks.
No matter what I will see you all on the paths soon.