Tennessee residency
Been doing some research for full timing, looking at Tennessee as place to change our residency from Michigan, no income tax, no pension tax, don't tax social security, and insurance/vehicle registrat...
Forum Discussion
There are mail forwarding services in TN. Small local type. You just have to search them out. I suspect that's true just about everywhere.
I like the idea of purchasing a small piece of property and improving it. If that isn't in your budget, find someone who will 'rent' you a room or shed as your homebase.
Yes, the Hall tax is being phased out and it is at 3% in 2018. Its 2% in 2019, and 1% in 2020. There are also exemptions for certain stocks like banks, etc. Lobbyists at their finest, ya know.
I once did a comparison of states I would live in (mostly the no state income tax states) using what I actually spend a year. I assumed I would buy a X dollar house, spend X dollars on food, power, and gasoline, X dollars on insurance/property taxes and so on. I also based it on my projected income. I think I looked at TX, WY, AK, FL, WA, MT, ID and since I was living in TN I threw that in for comparison.
I was Shocked at the answer. TN won and it wasn't even close. Realize, of course that these calculations were specifically tailored to my income and buying habits and you need to do this for your own situation to fairly judge.
If anyone has any questions for me, ask away or PM me. I am born and raised in TN, left for a bit to work in TX/AK/CA/europe and am retired back to TN. And my wife was a CPA.
I like the idea of purchasing a small piece of property and improving it. If that isn't in your budget, find someone who will 'rent' you a room or shed as your homebase.
Yes, the Hall tax is being phased out and it is at 3% in 2018. Its 2% in 2019, and 1% in 2020. There are also exemptions for certain stocks like banks, etc. Lobbyists at their finest, ya know.
I once did a comparison of states I would live in (mostly the no state income tax states) using what I actually spend a year. I assumed I would buy a X dollar house, spend X dollars on food, power, and gasoline, X dollars on insurance/property taxes and so on. I also based it on my projected income. I think I looked at TX, WY, AK, FL, WA, MT, ID and since I was living in TN I threw that in for comparison.
I was Shocked at the answer. TN won and it wasn't even close. Realize, of course that these calculations were specifically tailored to my income and buying habits and you need to do this for your own situation to fairly judge.
If anyone has any questions for me, ask away or PM me. I am born and raised in TN, left for a bit to work in TX/AK/CA/europe and am retired back to TN. And my wife was a CPA.
