Reduce Your Taxes by Moving

As I plan my 'great escape', I am going over all the little minute details that can either make my life easier or give me more time on the road by saving me money to begin with. As a person that has spent a few decades living life, I have accumulated some "stuff". A lot of this will be sold on eBay and CraigsList within the next week, but I will still have sentimental items that I cannot or do not want to part with, so I must keep them someplace.

I live in Massachusetts & my father lives in Alabama, so I plan on stashing my stuff there, but the issue of a mailing address has sparked my interest lately. I found that by "moving" to Alabama from Massachusetts before I leave to travel, I will save myself money on doing my taxes for the IRS.

Alabama Taxes:
Personal Income Taxes
Tax Rate Range: Low - 2.0%; High - 5.0%
Income Brackets: *Lowest - $500; Highest - $3,000
Number of Brackets: 3
Personal Exemptions: Single - $1,500; Married - $3,000; Dependents - $300
Standard Deduction: Single - $2,000; Married filing joint return - $4,000
Medical/Dental Deduction: Limited to excess of 4% of adjusted gross income
Federal Income Tax Deduction: Full

Massachusetts Taxes:
Personal Income Taxes
Tax Rate Range: Flat rate of 5.3% of federal adjusted gross income
Personal Exemptions: Single - $4,125; Married - $8,250;
Dependents - $1,000
Standard Deduction: None
Medical/Dental Deduction: Federal amount
Federal Income Tax Deduction: None


Do a Comparison Yourself:
Taxes By States