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Reply to "Moving Residency for Tax Purposes - Anyone Done This?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The Washingtonian published a chart on the average tax burden for someone earning like $250k and $500k and interestingly DC was second only to Arlington for lowest overall tax burden (for income, sales and property). Lower than all the other local MD and VA counties. Again…both MD and DC really fall down when you factor estate/inheritance taxes.[/quote] Yes except we aren’t talking about people making $250K to $500K if we’re talking about saving high tens of thousands to hundreds of thousands in state taxes a year…. DC has a 10.75% income tax once you hit $1M+ [/quote] I don’t get the sense OP is in that tax bracket…but maybe I am wrong. They probably wouldn’t be asking DCUM for advice on the topic.[/quote] OP here. That's correct. We're more like the $500K annual income bracket. Our biggest concern is avoiding estate taxes.[/quote]
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