Florida is one of only seven states that doesn't collect an individual income tax. Pinnacle Advisory Group is a private wealth management firm, founded in 1993 and headquartered in Columbia, Maryland, with an office in Miami, Florida. (And it's a homecoming. Real estate companies can market city-to-suburbs relocation services. Deciding whether moving to Florida is going to be permanent or temporary will play into whether or not you want to buy or rent a home. 11. NEW YORK--(BUSINESS WIRE)--Dynasty Financial Partners announced today that the firm is moving its headquarters from New York City to St. Petersburg, Florida in the second quarter of 2019. The other six are Alaska, Nevada, South Dakota, Texas, Washington, and Wyoming. Moving can impact your financial situation in surprising and unforeseen ways. It also represents an opportunity for businesses to provide quality of life-related products and services. People move to Florida for a multitude of reasons, but most commonly it is for the lifestyle, a slow-paced retirement, or for a second snowbird home. The state’s panhandle and western gulf coast are home to some of the most pristine, postcard-perfect beaches in the country, while the Florida … Miami financial firm to move HQ to Boca Raton after $13M office purchase . Another baby boom Think long and hard before you become a tax refugee. Financial Services Florida excels in finance – as evidenced by the presence of 170 commercial banks with $131 billion in assets – and a growing private equity cluster. Unlike New York State, Florida has no individual income tax, estate tax or capital gains tax, which the state has promoted in a concerted effort to recruit financial firms from New York. Moving to Florida from a state like New York can save someone in a high-income tax bracket many thousands of dollars each year in taxes. While a situation where someone saves $100,000 merely by moving sounds like a no-brainer, I’ve also seen people spend tens of thousands of dollars to relocate, only to hate it and move back a year or two later. Communications and technology firms can provide the connectivity needed to maintain operations from afar. Financial Planning & Considerations When Moving to Florida Thursday, July 30, 2020 3:00PM EST If you’re considering moving out of NYC in order to maximize your assets and plan for your financial succession, you’ll want to start planning early to get the full benefit. Qualified Defense Contractors Tax Refund Program (QDC) – A tool to preserve and grow Florida’s high technology employment base, giving Florida companies a competitive edge as defense contractors consolidate defense contracts, acquire new contracts, or convert to commercial production. Florida’s northeast coast provides a flashback to “Old Florida,” with mid-century architecture and history dating back to the 1500s. Florida Has No Income Tax . In total, Florida is home to 129,500+ financial and professional services firms and their 897,500 employees. By Brian Bandell – Senior Reporter, South Florida Business Journal . We work with more than 1200 families and manage approximately $2 billion in assets for clients both in the mid-Atlantic region, and around the world. Moving companies might see a boon. The move won’t be far as the leading fast-food chain has been based in the Chicago suburb of Oak Brook, Ill., since 1971.
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