TAMPA, Fla. — Living in Florida is pretty great. You've got lots of sunshine, beaches and no state income tax. That's why so many people move to the Sunshine State.
"In the past two years, there's been such an uptick in folks calling and saying 'Hi, I just moved here,' and they're calling from Illinois, California, New York, basically anywhere," Kim Justice says. She's the owner of Tax & Accounting by the Bay in St. Pete.
Filing taxes once you're a full-year Florida resident will be pretty simple, since you'll only have to file a federal tax return once a year (unless you own a business).The first year can be a little tough, though -- knowing what you can and can't claim on your previous state's return.
10News went to the tax experts at Tax & Accounting by the Bay in St. Pete to find out the top 4 things to know before filing:
- Know the date you moved. This will affect your residency in the state you used to live, changing how much you're refunded or how much you owe.
- Know that you have to file in every state you made income (except Florida) and your federal return. Properties which you profit off of are included in this.
- If you kept any receipts for moving expenses, you probably won't be able to claim them. Some active duty military members may be able to.
- If you have any questions, consult a professional.
"You're going to pay more for a professional to fix it than you would've paid for them to prepare them," Justice says.
She's been in the business for more than 23 years and says many people come to her firm after making filing mistakes.
Another thing people ask often -- Will my state return affect my federal returns? It won't.
The deadline to file your taxes is April 15.
