• Marketplace
  • Resources
  • Business Directory
  • Events
  • Advertise
  • Brand Pulse
  • Publish a Press Release
  • Get the Newsletter
  • Contact
  • About Us
The FUTURE OF WORK® since 2003
Allwork.Space
No Result
View All Result
Subscribe
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
No Result
View All Result
Subscribe
Allwork.Space
No Result
View All Result
Advertisements
Maximize Flexible Space Revenue
Home News Work-life

Tax Considerations For Young Remote Workers Moving To New States

Many remote workers have moved out of high-cost areas, but before making this move, professionals need to consider the tax implications of their move.

Aayat AlibyAayat Ali
December 30, 2021
in Work-life
Reading Time: 2 mins read
A A
Tax Considerations For Young Remote Workers Moving To New States

More stories for you

Most Workers Expect To Become Caregivers But Remain Unprepared For Long-Term Responsibilities

Most Workers Expect To Become Caregivers But Remain Unprepared For Long-Term Responsibilities

2 weeks ago
Spain Considering Cutting Workweek From 40 To 37.5 Hours For 12.5 Million Workers

Spain Considering Cutting Workweek From 40 To 37.5 Hours For 12.5 Million Workers

2 weeks ago
Mexico To Cut Work Week From 48 To 40 Hours By 2030

Mexico To Cut Work Week From 48 To 40 Hours By 2030

3 weeks ago
These Are The U.S. Cities Where Workers Log The Longest Hours

These Are The U.S. Cities Where Workers Log The Longest Hours

3 weeks ago

The eruption of remote working opportunities has led to new migration habits. Instead of turning to large cities where opportunities are ripe, workers have moved to states with a lower cost of living and better affordability. 

In fact, a Bankrate survey from this year shows that 31% of young workers relocated, many to their own hometowns or even their parents’ homes.  

Advertisements
Disaster Avoidance Experts

Although making this type of move can be difficult, there’s more nuance than just the moving process itself. 

Filing taxes adds another layer of complication. So, what tax considerations should young professionals make before relocating? 

Advertisements
Maximize Flexible Space Revenue

Some states have no income tax, which can feel a little bit like receiving a small pay raise. In fact, this is the reason why so many people have moved to Texas and Washington. 

However, states with no income tax often offset this lack of income by increasing costs in other areas, such as sales and property taxes. Even more, commuting, public services, infrastructure, and more may end up costing more in these states, as they often lack fully realized public transportation. 

On the other hand, moving to a state with income tax means having a different understanding of how to plan for tax season. 

Some states have a flat rate, while others tax based on annual income. If you have already moved, but your employer is located in a state like New York, you will still have to pay income tax there regardless of where you are living. 

Advertisements
Yardi Kube automates flex and coworking operations

While navigating tax time can be challenging, it shouldn’t deter professionals from making moves in their lives. However, planning in advance can save workers trouble as they make this transition. 

Advertisements
Subscribe to the Future of Work Newsletter
Source: Fast Company
Tags: Work-life Balance
Share5Tweet3Share1
Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

Other Stories Recommended For You

Most Workers Expect To Become Caregivers But Remain Unprepared For Long-Term Responsibilities
News

Most Workers Expect To Become Caregivers But Remain Unprepared For Long-Term Responsibilities

byAllwork.Space News Team
2 weeks ago

A new national survey discovered that while a majority of workers anticipate providing care for an aging loved one, few...

Read more
Spain Considering Cutting Workweek From 40 To 37.5 Hours For 12.5 Million Workers

Spain Considering Cutting Workweek From 40 To 37.5 Hours For 12.5 Million Workers

2 weeks ago
Mexico To Cut Work Week From 48 To 40 Hours By 2030

Mexico To Cut Work Week From 48 To 40 Hours By 2030

3 weeks ago
These Are The U.S. Cities Where Workers Log The Longest Hours

These Are The U.S. Cities Where Workers Log The Longest Hours

3 weeks ago
Advertisements
Nexudus - Tech Stack Lovers
Advertisements
Nexudus - Tech Stack Lovers

Unlock your competitive edge in tomorrow's workplace.

Join a community of forward-thinking professionals who get exclusive access to the latest news, trends, and innovations that are shaping the future of work.

©2024 Allwork.Space News Corporation. All Rights Reserved.

Exploring the Future Of Work® since 2003.

Advertise   Newsletters   Privacy Policy   Terms Of Use   About Us   Contact   Submit a Press Release   Brand Pulse   Podcast   Events   

No Result
View All Result
  • Home
  • Latest News
  • Topics
    • Business
    • Leadership
    • Work-life
    • Workforce
    • Career Growth
    • Design
    • Tech
    • Coworking
    • Marketing
    • CRE
  • Podcast
  • Events
  • About Us
  • Solutions
    • Advertise | Media Kit
    • Publish a Press Release
    • Brand Pulse
Subscribe

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00