From Snowbird to $un Domicile
Edward Sklar
M&A Advisor | Helping Business Owners Get Top Dollar for Their Company | Lower Middle Market Specialist|Veteran|REALTOR|28,000+ Followers
Concierge Transition to South Florida Money Saving Domicile
Great weather used to be the motivating factor for those in the Northeast seeking shelter from the winter storms. A new wave of people are seeking shelter from the taxation burdens and establishing a Florida Domicile to save a substantial amount of money every year.
As a former New Yorker living in Manhattan my taxes included local, state, and federal taxes, with a tax burden approaching 50%. Ouch, Florida has no state or local income taxes which is one of the reasons I joined the migration wave to Florida.
This flood of migration has been exacerbated by the $10,000 cap on state and local tax (SALT) deductions. A recent analysis by a prominent tax attorney showed a person (or couple) earning $650,000 in ordinary income could save almost $70,000 by moving from New York to Florida.
Establishing Domicile and generating enough income to make a viable lifestyle change are challenges faced by many working in industries such as financial services, technology, etc…
In order to combat the nightmare of a residency audit by a state such as New York the two primary domicile factors to be considered are home and business connections. We have created a Concierge Business/Home program to help those interested in making the move by integrating the combined purchase of a business and a home to resolve the issues created by the audit.
This program is designed for those seeking to purchase a profitable business in South Florida. Click the link below for a sampling of Businesses for Sale that qualify for this program.
Businesses for Sale-$1m +
https://bizmls.com/listings/bbf-386007/bus-sellprc1M.asp
Manufacturing Businesses for Sale
https://bizmls.com/listings/bbf-386007/bus-manuf500k.asp
with the ability to generate substantial income. We have partnered with a company that will enable you to purchase a business using your 401k. and have businesses for sale with owner and SBA financing.
Click Link below to see businesses with Pre-Qualified Financing
https://bizmls.com/listings/bbf-386007/bus-lender500K.asp
Florida does have its share of traffic congestion and we suggest that you purchase a home within a short commute of your newly acquired business. As a REALTOR I have access to every home/condo for sale in South Florida
Search Homes for Sale in South Florida
A network of legal and financial advisors is available to ensure the entire process will be bulletproof , and Concierge Service ensures a smooth transition to Florida Domicile.
If you have an interest in learning more please contact me via email at: [email protected]
Edward Sklar M.S.
Concierge Business Broker, REALTOR
South Florida for Me Team
United Realty Group
Business Brokers Florida
www.southfloridaforme.com
https://www.dhirubhai.net/in/edsklar/
New Jersey Criminal Defense Attorney—Trials, Cross-Examination, Pretrial Motions, Pleas, & Sentencing.
5 年A person (or couple) earning $650,000 is extaordinary.?
Retired? Maybe. Former Sr. Sales Consultant at OpenText
5 年Nice article Edward. I have been in Florida for 10 years. 1 in Tampa and 9 in Panama City. I have saved a lot of money here that I used to pay annually living in North Jersey. Another plus is the PanHandle has 4 seasons.