Emrath,
Thanks so much for the info. TN is sounding better all the time.
Chuck
Do not archive
-----Original Message-----
From: owner-rv-list-server@matronics.com
[mailto:owner-rv-list-server@matronics.com] On Behalf Of emrath
Sent: Thursday, March 18, 2010 9:26 AM
To: rv-list@matronics.com
Subject: Re: TaxesTaxesTaxesTaxes
Chuck,
I live near Nashville and hanger at KMQY Smyrna TN. Several RV's park there
and there a lots in the area close by. Hanger space is a premium however. I
can say that TN does not have a state income tax but they do have a Hall Tax
that taxes interest and dividends at 6%, but there is a personal exemption
and there are lots of types of interest income that are tax exempt (I'm not
a tax advisor). Property taxes are lower than other places I've live. I
do like the Chattanooga area and 1A3 may be something I should look at!
Marty RV-6A just about ready for inspection.
Time: 07:14:48 PM PST US
From: "Chuck Weyant" <chuck@chuckdirect.com>
Subject: Taxes
Wooee. Thanks for the invite. Who knows, just might do that. How's
taxes,
etc., in GA?
Chuck
_____
From: owner-rv-list-server@matronics.com
[mailto:owner-rv-list-server@matronics.com] On Behalf Of Bret Smith
Sent: Wednesday, March 17, 2010 6:16 PM
Subject: RE: Taxes
Chuck,
I live in GA near the TN/NC border and keep my plane at Copperhill, TN
(1A3). Beautiful country and close to both Chattanooga and Atlanta.
Lots
of Florida retirees here with hiking, camping and fly fishing streams
everywhere. We have an active EAA Chapter nearby (www.eaa1211.org).
Why
not visit and stay with us to get a feel for the area.
Bret Smith
RV-9A N16BL
Blue Ridge, GA
www.FlightInnovations.com
From: owner-rv-list-server@matronics.com
[mailto:owner-rv-list-server@matronics.com] On Behalf Of Chuck Weyant
Sent: Wednesday, March 17, 2010 6:52 PM
Subject: RE: Taxes
David,
Thanks so much for your words of wisdom. How right you are about not
reducing ones income to avoid taxes. I am recently retired but have
numerous modest investments (stocks, real estate, and two airplanes).
I
received some correspondence from a developer/pilot in Tennessee. TN
is
49th in state taxes with Alaska (petroleum rich) being 50th. That is
good.
My wife and I spent some time in TN two years ago and loved it there.
Don't
know what it would be like to live there though. Well, we don't have
to
make a decision immediately, so will continue to gather more info.
Again thanks for you words of wisdom. They're greatly appreciated,
Chuck
_____
From: owner-rv-list-server@matronics.com
[mailto:owner-rv-list-server@matronics.com] On Behalf Of
d-burton@comcast.net
Sent: Wednesday, March 17, 2010 7:43 AM
Subject: Re: Taxes
It will make a huge difference what your personal situation is. Are
you
working? Do you have substantial investments? Income? Own a home? A
business?
We all pay on average about 42% of our income in taxes each year.
(Not
income taxes. All taxes in total). Everybody in developed countries
does.
This comes as a big surprise to most people.
You can look at your personal situation and find the best way to
maximize
your income and minimize your tax obligation. Just be careful that
you
don't figure out how to pay a tiny amount of tax at the expense of
earning a
tiny amount of money. What is important at the end of the day is what
remains in your pocket...
This article was written for retirees but can give you some things to
think
about and resources to do some additional research on different
states:
http://moneycentral.msn.com/content/retirementandwills/p45875.asp
The other problem is that things don't stay the same forever. My
state
(Washington) which has the same budget problems most other states do
at the
moment has looked and the "wealthy" airplane owners who are not paying
their
"fair share" of taxes and is proposing to add a huge use tax to
aircraft
this year.
Florida (where I have lived twice) is great and I'm considering living
there
again at least part time has incredibly low taxes. Unfortunately
since
taxes have been chopped to unsustainable levels, and there is not
adequate
revenue to support what little government services there are there, at
some
point in the near future things are likely to change dramatically for
the
worse.
I think finding a place friendly to aviation with good flying weather
may
drive the decision.
DavidB
RV6
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