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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhy Trump's kids are probably celebrating his move to Florida
Trump announced a move Thursday night thats popular with billionaires.
In a series of tweets, President Trump said he has moved his permanent residence to Palm Beach, Fla., and said he had been treated very badly by the political leaders of both the city and state of New York. Few have been treated worse, he said, through he added New York will always have a special place in my heart!
The New York Times first reported the move, citing documents filed in Florida by Trump and his wife, Melania, that said their primary residence was now Trumps Mar-a-Lago resort. The Times reported the move was primarily for tax purposes. Florida does not have a state income tax or inheritance tax. The Times also said the move will not affect the effort by New Yorks attorney general to try to obtain Trumps federal tax records.
Link to tweet
?s=20
Florida is one of seven states with no state income tax, according to Gibbs Law Office, an estate-planning firm based in the state. When combined with the warm climate, the friendly tax policy that allows for no income taxes and no Florida estate and inheritance taxes makes Florida an immensely popular retirement destination, it says.
https://www.msn.com/en-us/money/personalfinance/why-trumps-kids-are-probably-celebrating-his-move-to-florida/ar-AAJGwCh?li=BBnbfcL
braddy
(3,585 posts)Good one.
Me.
(35,454 posts)That Florida is for the newlywed and the soon dead
braddy
(3,585 posts)Maeve
(42,282 posts)kskiska
(27,045 posts)braddy
(3,585 posts)kskiska
(27,045 posts)PCIntern
(25,544 posts)Ian Flemings Book Live and Let Die.
SWBTATTReg
(22,124 posts)justice will prevail and you will pay.
Turbineguy
(37,329 posts)remodeling costs? There must be a money angle and it's more than just income tax. Maybe he'll be liquidating all his assets and offshoring the money.
Frustratedlady
(16,254 posts)The taxpayer can also pay for his staff/secret service to stay at Mar-a-Lago, as we do when he golfs? Easier for the Russians to drop in? (BTW, whatever happened to that one guy who used to park his plane by AF1 early on in Trump's reign?)
We need Before/After photos of MAL.
Maybe climate change will wash him out to sea.
gibraltar72
(7,504 posts)lagomorph777
(30,613 posts)magicarpet
(14,150 posts).... and Mara-Lago will be washed away by the high tide like a child's' sand castle on the beach 15 feet below the high water mark.
TheBlackAdder
(28,195 posts)Garrett78
(10,721 posts)Paper Roses
(7,473 posts)His orangeness is moving to protect assets. I wonder if he will sell all his properties and somehow protect the monies generated. Will be interesting to see how much tRump property goes on the market shortly. No income tax, no estate tax, no inheritance tax in Florida. What a great way to cover his backside!
Keep your eye out for his future RE sales.
NCLefty
(3,678 posts)KY_EnviroGuy
(14,491 posts)Of course, that list might actually be quite long when Wall Street is considered.
Shouldn't be expensive to insure and move all that stuff painted with gold spray paint and there's many New Yorkers willing to help load the truck for free.
KY............