The COVID-19 pandemic accelerated the pace of inter-state migration across the U.S., and significantly increased migration to South Florida, as individuals reconsidered where they would prefer to establish their permanent residency. Many like the idea of Florida because we have no state income tax - but there are other significant tax considerations to understand.
Tax professionals from Kaufman Rossin and My Tax Law share the do's and don'ts of establishing residency, moving your business, and federal tax impacts of the sale of your prior residence.
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What makes one a resident?
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Planning the sale of your prior residence.
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Tax rules for remote employees.
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Florida business tax landscape.
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Potential credits and incentives.