Watch This Before You Move States to Avoid Taxes
On this week's THE FINANCIAL COMMUTE episode, CPA Chris Passmore joins Chris Galeski to discuss moving states to save on taxes. Does it always make sense?
Here are some key takeaways from their conversation:
Headlines about high California taxes can be misleading—actual savings vary widely based on income and lifestyle.
States like Texas may have no income tax, but property tax rates can reach up to 3%, significantly higher than California’s Prop 13-capped rates.
Factors like homeowners insurance, electricity (especially in hot climates), and DMV registration fees can increase expenses…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.