How Are Your Taxes Affected When You Move to a New State?

Moving to a new state is a drastic change. It’s a brand new environment with a new career, a new home, and new rules in place depending on the state. When you’re worried about adjusting to a new place and packing for a big move, learning about taxes can end up on the back-burner. But it’s important to learn about how to go about filing your returns the following year. When you move to a different state, you’ll be required to file for each state, and you may want to learn more about the rules. This page is a great way to learn a little bit more about how your taxes are affected when you move to a new state.

Finalize your move before dealing with taxes.

While you may feel inclined to start figuring out how your taxes are affected when you move to another state, you’ll need to tackle the moving process beforehand. Figure out all of the logistics of the move by checking out a premier moving truck rental company.

Using professional moving services makes the whole process a lot easier than trying to stuff everything into a small vehicle. Fluid Truck has everything from cargo vans and box trucks to even SUVs. Get a moving truck for your upcoming relocation and make the packing and moving process seamless. When you rent from Fluid Truck, you’ll find that it’s less of a hassle than traditional rental companies that have specific business hours. Plus, there are no hourly rental options at typical rental companies. You also skip the time-consuming paperwork and all of the hidden fees like cancellation and extension fees when you choose to rent from Fluid Truck instead.

Organize your files for each state.

Determine the states where you need to file taxes. Then, use a tax folder for each state to organize your files. Tax return folders are a great way to keep track of important documents. You can use small folders from Mines Press, which come in a variety of designs. Organizing your taxes in folders is more convenient as you won’t need to lug around any expanding file folders to your local tax preparers. This will make it a lot easier for you when it comes time to file in the following year. Plus, you can easily access everything. Add in any W-2s, 1040s, 1099s, or W-4s. Once you’ve filed your taxes, you’ll be glad that you organized them by year and by state when you need to refer to them at some point.

Learn about the state’s income and local tax laws.

Once you’ve organized your files, it’s time to look over each state’s income and state tax laws. Keep in mind, some states like Nevada and Washington don’t have any income or state taxes. Meanwhile, other states have multiple taxes depending on where you reside and how much you earn per year. If you have any concerns about what you need to pay to the federal government, then you may want to check any government resources on taxes. That way, you can learn how to pay state taxes. You can even chat with a government agent to find out how to navigate your tax filing process.

If you’re making a big move this year, then the first step you need to take is to make sure that you have all of your logistics figured out. Find the best moving services and look for a rental vehicle to move your items across state lines. Then, you can think about organizing all of your files. Once you’ve done that, you can learn about the laws regarding taxes in your previous state and your new state. That’s all there is to it!

By Malik