| So, what motivates federal employees and others to | | | | Texas, (6) Washington and (7) Wyoming. In addition, |
| move during retirement? While there may be other | | | | New Hampshire and Tennessee only tax interest and |
| factors, this list covers a number of the considerations | | | | dividends. |
| many of our fellow baby boomers and others consider | | | | Likewise, it should be clearly said that a total of 26 |
| important in making such a decision. | | | | states plus the District of Columbia do not tax Social |
| First, we may decide to move because a specific job | | | | Security benefits. IMPORTANT: Our web site, is |
| offer emerges from either the private or public sector. | | | | against any states taxing Social Security income. From |
| This offer to someone in greater demand could also | | | | our standpoint, because of the current and coming |
| include a future independent contractor status or | | | | labor shortages and especially because of the current |
| registration with a speaker's bureau or talent agency, | | | | skills shortages, our society cannot afford to do |
| for example. Or, it may include starting your own | | | | anything, which has the net effect of discouraging men |
| business or even buying a franchise with an | | | | and women from continuing to work in America. |
| established business plan and strategy to pursue. | | | | Finally, other men and women will factor some or all of |
| Second, we may decide to move because of family | | | | these issues into consideration, when deciding where |
| considerations, which range from aging parents to | | | | and when to move in our society. In the final analysis, |
| relocating so that we can be closer to our children and | | | | even local sales taxes and property taxes can and |
| grandchildren. In fact, a number of my daughter's | | | | should enter into this equation. For example, the City of |
| closest young adult friends in Greater St. Louis have | | | | Chicago recently passed an incredibly high local sales |
| talked about their parents taking precisely this step | | | | tax, which put this great city at or near the top of local |
| recently. By the way, this observation includes the | | | | sales taxes in the whole US among major cities. Of |
| movement of grandparents to the St. Louis area, who | | | | course, this consideration only becomes important |
| have never before lived in that region. | | | | when someone wants to buy something, whatever |
| Third, men and women also choose to move to a | | | | that may be. |
| more exciting part of the US or they may choose to | | | | To tax or not to tax -- that will indeed be the question |
| live abroad, which an increasing number of Americans | | | | for state and local governments in the future in the US |
| are now deciding to do. For example, a fellow baby | | | | and elsewhere, as a wave of baby boomers begin to |
| boomer web entrepreneur, Ann Fry, decided to move | | | | consider all of their relocation factors and options. |
| from Austin, TX to New York City over the past year | | | | "Yes," state and local governments would like the bank |
| and she has never looked back on her decision. The | | | | deposits, which provide the necessary capital needed |
| 62 year old Ann runs a successful web site plus | | | | for consumer loans and local businesses to expand |
| works as a motivational speaker and career coach. | | | | and create even more jobs in that area. "Yes," state |
| So, part of her relocation formula has included an | | | | and local governments would also like men and |
| upsurge in her speaking engagements and coaching | | | | women, who will not be adding to the local student |
| assignments, especially since she moved to New York, | | | | population in our nation's public schools, but who will |
| despite the warnings of doom and lack of success | | | | never the less be adding to the local property tax |
| from her Austin, Texas-based friends. | | | | base. "Yes," state and local governments would also |
| Fourth, other men and women choose to move to a | | | | like to have men and women, who are creditworthy |
| different part of the US especially for tax reasons. But, | | | | and who have a greater equity position in their homes |
| of course, the question, which quickly emerges in this | | | | move into the community. |
| complex set of variables is "which taxes?" Many of us | | | | But, what if anything are these state and local |
| no doubt already know Texas or Florida (part-time) | | | | governments willing to do in order to court "our" favor, |
| citizens, who have emigrated to these states because | | | | you might logically ask? This writer submits to you that |
| neither levies a state income tax. Of course, the | | | | the answer to this question will cause state and local |
| winning formula is that "they" actually live in their | | | | governments around the US to make a whole series |
| adopted states for one-half of the year plus one day. | | | | of different decisions, both now and in the near future, |
| But, did you know that there are actually a total of | | | | in order to demonstrate "their friendliness" to my fellow |
| seven states with no income tax as follows: (1) Alaska, | | | | baby boomers, who are 78 million strong just in the US. |
| (2) Florida, of course, (3) Nevada, (4) South Dakota, (5) | | | | |