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
It would be my advice that unless you had a rather large retirement income that taxes should be low on your list of concerns given the size of the standard deduction.
I would concentrate on the two things that cost so much. Auto insurance and Auto Registrations/taxes.
It would also be smart to identify a state with expanded Medicare benefits.
I have three addresses, one of them is in Alaska. That is the address I give to insurance companies as it results in much lower rates than anywhere in the lower 48 (for me; but I have never had an accident or any violations have held a class A CDL and Currently hold a Class B and have taken numerous National Safety Council courses)
There is a good website to look at regarding state by state insurance costs:
State by state insurance costs
Income taxes are much easier to mitigate than are insurance costs and vehicle registration and medical costs therefore I beleive your focus on taxes is a bit misguided. (unless as I said your income is pretty substantial and cannot be lowered thru legal means)
I would concentrate on the two things that cost so much. Auto insurance and Auto Registrations/taxes.
It would also be smart to identify a state with expanded Medicare benefits.
I have three addresses, one of them is in Alaska. That is the address I give to insurance companies as it results in much lower rates than anywhere in the lower 48 (for me; but I have never had an accident or any violations have held a class A CDL and Currently hold a Class B and have taken numerous National Safety Council courses)
There is a good website to look at regarding state by state insurance costs:
State by state insurance costs
Income taxes are much easier to mitigate than are insurance costs and vehicle registration and medical costs therefore I beleive your focus on taxes is a bit misguided. (unless as I said your income is pretty substantial and cannot be lowered thru legal means)
