Declaring VA Domicile
Hi everyone, First post for me and Taylor. We are going full time in 9 days and working on our Domicile. We currently live in VA and run a wedding photography and film business. The business is re...
Forum Discussion
I too am a Va. resident but am leaving as soon as my house sells. You should not be bound to Va after going mobile. Your decision on Domicile has a lot of factors.
Where do you plan to mainly spend your time? If you are looking at fulltiming out west such as winters in Az, and summers maybe in Montana or Wyoming, you may want to look at Wyoming, Nv or SD , no state income taxes, Wy even has no corporate income taxes.
Health insurance, again look at where you plan on mainly travelling, you may want to pick one of those states to simplify your insurance so at least a couple of months a year your in the area, and within a days drive other times of the year. Nv is popular for that reason.
Vehicle registration, some states dont require annual inspections, having to travel to a given state for that alone can be frustrating,
Vehicle insurance rates also vary somme states are considerably cheaper than others.
You are going mobile for the purpose of being mobile, take advantage of the flexibility.
I also just remembered one more sizable expense, Personal property taxes, many states dont have those either, and in Va they can be costly.
If you are mainly going to be working in Va one other state that may be worth considering is Tn. No state income taxes on wages, but they do tax income from stocks, bonds and investment income.
Where do you plan to mainly spend your time? If you are looking at fulltiming out west such as winters in Az, and summers maybe in Montana or Wyoming, you may want to look at Wyoming, Nv or SD , no state income taxes, Wy even has no corporate income taxes.
Health insurance, again look at where you plan on mainly travelling, you may want to pick one of those states to simplify your insurance so at least a couple of months a year your in the area, and within a days drive other times of the year. Nv is popular for that reason.
Vehicle registration, some states dont require annual inspections, having to travel to a given state for that alone can be frustrating,
Vehicle insurance rates also vary somme states are considerably cheaper than others.
You are going mobile for the purpose of being mobile, take advantage of the flexibility.
I also just remembered one more sizable expense, Personal property taxes, many states dont have those either, and in Va they can be costly.
If you are mainly going to be working in Va one other state that may be worth considering is Tn. No state income taxes on wages, but they do tax income from stocks, bonds and investment income.
