Buying a second home in another state to save on income taxes?
Saturday, June 21st, 2008I travel for a profession and am planning to buy a second home to use as my residency and decreased tax purposes.
I plan to let my daughter stay at my original home (different state) and to use as a vacation home.
Is there anything I should be aware of for income tax purposes? The company I work for only asks of where I live.
The question is in regards to State Income Tax.
My travel company asks where I’m residing. I plan on purchasing property in a state which has no income tax.
Will I be exempt from paying income tax to my original state of residence even though I own property there? Thanks
Vanessa

