i would absolutely love to live in wyoming but my wife wont move. low R/E taxes, no state taxes, low gas taxes. I can just see the "Big Horn Mountains" in my minds eye.
Wyoming does sound inviting it may sound cold, but I'd tell the wife she was welcome to come along if she wanted, course that all depends on how great a marriage one has When I was 18 I laughed at the cold and even coats. Now I'm 48 and sunny Florida sounds better all the time. Thanks for the CapeCoral link, sounds like a good place to live. Funny thing, comparable housing seems to cost about 3 to 4 times as much in Florida as in Arkansas, but then taxes add up to cover it, if you do well
Many people do exactly this in the Columbia Gorge, which may be the best spot on Earth for the variety of outdoor sports. Hood River, OR is just across the bridge from White Salmon, WA, or short drive to Stevenson (more upscale). All small towns, but very cool, especially HR (sports mecca with lots of good restaurants, etc, all packed into a tiny area). The area has, bar none, North America's best windsurfing, year round white water, and only year round skiing due to the glacier at Timberline. Also has epic mtn biking, hiking, fishing, etc. As for Washington prop taxes, not sure, but well below Oregon's according to those I knew that lived on WA side (I spend summers, and a few years all year in HR). People do much if not most of their shopping on OR side. Winter issues. Yup, rains a lot, but rarely snows at river elevation. This has become an issue with me after 5 years here, and I'm moving. Quite possibly to Texas! (Corpus Christi). Maybe overseas. I will miss the stunning beauty of the place though. Jay
No. Commodity traders actually have tax advantages over equity. Namely, the 60/40 rule. 40% income taxed at long term rates. As for self employment taxes, it is the same as for equity traders. If you set up a biz to declare earned income for IRA's etc, then that portion is taxed (FICA). Its optional. If you are an exchange member, to get mega low commissions, then you run into the self employment thing. I am not a CPA, but have been trading futures for 18 years. Jay
It would appear that futures or foreign currency positions would not be taxable (perhaps options as well). Also, if you're a swing or intraday trader, you could simply take your account to cash on 31 Dec. to avoid paying this tax.
Slightly off subject... I just moved to Idaho from Nevada. I gave up "no state income tax" (which btw, is replaced by extreme gasoline, cigarette, and various other usage and business only taxes/fees plus a 7.x sales tax) I've got excellent broadband (choice of dsl, cable, satellite, and even wireless cable), affordable homes, low property tax, clean air, minimal traffic, very low crime rate, a relaxed way of life, cheaper gasoline (about .25 a gallon) and for the most part, nice winters. For me and my family it's well worth a maximum of 7.8% state income tax (on excess over 51K) + 5% sales tax. And the mayor doesn't drink gin as his hobby! Osorico
I thought that unless you were considered a broker-dealer (i.e., not simply an exchange member), you didn't have to pay SE taxes.
Not sure how the newer partnership deals work where you are "an exchange member" through a LLC setup with some brokers (Electronic corporate memberships). In the past, being an exchange member threw you in the same broker/dealer category. I'm sure there are ways arond it though. I never did it. My main point is that futures traders are taxed pretty much the same as equity, only at a lower rate. Jay
What do you mean auto registration....you mean the fee that you pay at the DMV.....:eek: thats nuts..... Curious what your insurance per year is... Nick
Can anyone tell me what the average property taxes are in florida.... We may be looking to get a place in florida for mom who is coming back to the states after living in Greece for a number of years... I think we are thinking on the gulf side...something by or on the water.... I actually should go down there and take a look around... Nick