Talk of The Villages Florida

Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)
-   The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)
-   -   Saying goodbye to state income taxes (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/saying-goodbye-state-income-taxes-321762/)

gwenhwalker@yahoo.com 07-18-2021 06:42 AM

I'm from Virginia Beach. Lived here since 2014. Virginia doesn't get any of my money. My CPA is in Virginia Beach

bmit16 07-18-2021 06:50 AM

Quote:

Originally Posted by Patents111 (Post 1974359)
Hi, I’m a federal retiree living in Virginia. I plan to sell my house; and sell or re-register all personal property in Florida; and buy and become a full-time Villages resident. My local CPA will file my part-year Va taxes, but Virginia had/has a reputation for seeking taxes from former residents on the theory that their retirement income was the result of living in the state while earning that retirement.
I’m interested in hearing your story of settling up with, and disengaging from, your home state tax collecting system whether Virginia or other, what you used as your transition-to-Florida date, and any advice to avoid pitfalls. Many thanks in advance.

We moved in 2019 from Virginia. I filed 2019 year tax as Florida resident. No issues. I have never heard a word from Virginia, but I am a conservative. Maybe they are glad I am gone. Getting rid of my vote was worth more than my money I guess!

Patents111 07-18-2021 07:27 AM

Thanks to all for your thoughtful replies and great advice. Can’t wait to join the fine group of people that you are.

dewilson58 07-18-2021 07:37 AM

Quote:

Originally Posted by Hiltongrizz11 (Post 1974724)
Well if a villager post doesn't provide facts I guess there's no point in you even writing this because we can't believe you

You guess wrong.

nn0wheremann 07-18-2021 08:16 AM

Quote:

Originally Posted by Patents111 (Post 1974359)
Hi, I’m a federal retiree living in Virginia. I plan to sell my house; and sell or re-register all personal property in Florida; and buy and become a full-time Villages resident. My local CPA will file my part-year Va taxes, but Virginia had/has a reputation for seeking taxes from former residents on the theory that their retirement income was the result of living in the state while earning that retirement.
I’m interested in hearing your story of settling up with, and disengaging from, your home state tax collecting system whether Virginia or other, what you used as your transition-to-Florida date, and any advice to avoid pitfalls. Many thanks in advance.

Income occurs when you receive it, not when you earn it. Virginia is out of luck after you move. Who’s afraid of Virginia’s Tax wolf anyhow.

retiredguy123 07-18-2021 08:45 AM

Quote:

Originally Posted by nn0wheremann (Post 1974808)
Income occurs when you receive it, not when you earn it. Virginia is out of luck after you move. Who’s afraid of Virginia’s Tax wolf anyhow.

Correct. And, a Federal law passed in 1996 prohibits states from taxing the retirement income of residents who move out of the state. Prior to that law, California had an aggressive enforcement effort to tax IRA withdrawals made by former California residents under the theory that they received a state tax "deferral" when they made the IRA deposits.

ThirdOfFive 07-18-2021 08:51 AM

Quote:

Originally Posted by donassaid (Post 1974694)
We relocated from VA and none of that was true about the taxes. You will be blown away by the difference in tge DMV when you retitled your vehicles and get your new registration. Instead of spending hours working with rude, illiterate people, the Florida Representatives actually smile, are pleasant and have you out the door in under an hour.

So true!

We moved here last year from Minnesota, where some ill-advised and hurriedly-purchased software on the part of the Minnesota DMV had been bollixing up the works on driver's license renewals, vehicle tabs, license plates--you name it--for at least two years. I recall getting my Florida driver's license: the lady behind the window was pleasant, knowledgeable and efficient. The entire enrollment process took maybe 15 minutes, start to finish. Following the question-and-answer process, I asked her how long it would take before I actually received my license (remember the six to eight week wait that is normal in Minnesota).

She looked at me with a sort of puzzled expression and said "you'll have it in your hand before you leave here".

Amazing.

KRMACK55 07-18-2021 09:01 AM

Quote:

Originally Posted by Trayderjoe (Post 1974446)
Definitely listen to your CPA.

Note too that in 2017, the Florida requirement to declare Florida for legal residency was that you had to live here full time for 6 months plus one day. You may want to verify if that requirement still exists or has changed. We moved here from Michigan in May, arrived on a Saturday, and on that Monday immediately went down and acquired our Florida driver licenses and registered our cars. We only had to pay state income taxes to Michigan for income through May of that year.

That is exactly correct. I filed FL tax return in 2019 and the residency requirement has always been 6 months and a day. It’s also required for homestead for property taxes. I do know of folks who claim homestead in 2 states though because there’s no reciprocity in checking tax status, drivers license records etc.

retiredguy123 07-18-2021 09:14 AM

Quote:

Originally Posted by KRMACK55 (Post 1974849)
That is exactly correct. I filed FL tax return in 2019 and the residency requirement has always been 6 months and a day. It’s also required for homestead for property taxes. I do know of folks who claim homestead in 2 states though because there’s no reciprocity in checking tax status, drivers license records etc.

To clarify, you don't need to live in Florida for 6 months to stop paying income tax to your former state. You can stop paying tax to the other state as soon as you move to Florida, but you need to have the intention of becoming a Florida resident. Also, I don't know what Florida tax return you would have filed?

mtdjed 07-18-2021 09:27 AM

Be careful of the residency requirements and make sure that you stop state income tax deductions that are being automatically withdrawn from your income sources. I bought in TV in Oct 2006, continued working in Massachusetts through March 2007. Moved to TV in Apr 2007, registered cars in Florida, but didn't sell house in MA until Sep 2007.
My last paycheck had a deduction for MA state income tax (my error) and my lump sum retirement bonus also had a deduction for MA state income tax . Two errors on my part there. I should have deferred that payment as well as changed the auto deduction for MA Income tax.
Once that money is in the state's hands, it is hard to pry their fingers apart.

As I said, my error, but beware.

WesMan 07-18-2021 11:10 AM

Quote:

Originally Posted by Patents111 (Post 1974359)
Hi, I’m a federal retiree living in Virginia. I plan to sell my house; and sell or re-register all personal property in Florida; and buy and become a full-time Villages resident. My local CPA will file my part-year Va taxes, but Virginia had/has a reputation for seeking taxes from former residents on the theory that their retirement income was the result of living in the state while earning that retirement.
I’m interested in hearing your story of settling up with, and disengaging from, your home state tax collecting system whether Virginia or other, what you used as your transition-to-Florida date, and any advice to avoid pitfalls. Many thanks in advance.

Tell VA to get lost!!!!!

WesMan 07-18-2021 11:14 AM

Quote:

Originally Posted by Stu from NYC (Post 1974502)
The problem is bottom feeding collection agencies will buy old receivables for pennies on the dollar and hound people to death with collection activities.

Last year had one that would make robo calls daily offering us a great deal paying them 50% of what we "owe". They just kept leaving messages on voice mail and we had to keep deleting them so as not to fill up voice mail with their nonsense.

Get new phone # and un-list it.

Marty94 07-18-2021 12:00 PM

Quote:

Originally Posted by Patents111 (Post 1974359)
Hi, I’m a federal retiree living in Virginia. I plan to sell my house; and sell or re-register all personal property in Florida; and buy and become a full-time Villages resident. My local CPA will file my part-year Va taxes, but Virginia had/has a reputation for seeking taxes from former residents on the theory that their retirement income was the result of living in the state while earning that retirement.
I’m interested in hearing your story of settling up with, and disengaging from, your home state tax collecting system whether Virginia or other, what you used as your transition-to-Florida date, and any advice to avoid pitfalls. Many thanks in advance.

I moved from Virginia without any issues. Sold my house there and bought one here, registered my car, registered to vote, etc. I’ve read many posts about needing to be in FL six months and a day, but I have many friends that travel for work and pleasure. I’m sure they don’t have to justify to anyone being out of state or out of the country. In fact, one good friend is a contractor overseas. He is gone 9 months of the year. His residence is still Florida.

dewilson58 07-18-2021 12:02 PM

Quote:

Originally Posted by Marty94 (Post 1974937)
I moved from Virginia without any issues. Sold my house there and bought one here, registered my car, registered to vote, etc. I’ve read many posts about needing to be in FL six months and a day, but I have many friends that travel for work and pleasure. I’m sure they don’t have to justify to anyone being out of state or out of the country. In fact, one good friend is a contractor overseas. He is gone 9 months of the year. His residence is still Florida.

:bigbow:

Stu from NYC 07-18-2021 12:12 PM

Quote:

Originally Posted by WesMan (Post 1974926)
Get new phone # and un-list it.

Way to much trouble, they did go away after awhile.


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