MD to VA by the numbers - $$$?

[marylandmark]

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[MikeTF]

Wife and I are thinking about keeping our place in Maryland (super close to work) and buying another home in Virginia, spending at least 181 days a year there.

Any insight on the real numbers as far as tax savings and so on? We plan on having our tax guy run the numbers for us but figured I'd ask around.

How would this work with a Maryland CCW permit (in the process of obtaining right now, yes - we have G&S) ?

I hear it is cheaper but anyone have any real data or good source ball park data?

Wondering if we can write off our Maryland house 100% on taxes for business since the only reason we would be keeping it is because it is close to work? Kind of like how Congress has places to live in DC for when they are working are write that off as a business expense (guessing the do, don't know this as fact).

It depends on where in Virginia you are moving to. Property taxes can be 25% of the Maryland Property Tax rate. I live in a Southwest VA. Sales tax is 5.3% vs MD's 6%. Groceries run about 25% less than MoCo did. Gasoline is $3.09 a gallon here (today). House prices are cheaper, at about 50% the cost for the same sized house. My biggest savings will be when my daughter attends VA Tech or another VA public University: $11K a year for tuition vs. $27K for out of state. Not to mention that I will have a concealed carry license soon and that I have lakefront property at Smith Mountain Lake.

 

[mdvctry]

Wife and I are thinking about keeping our place in Maryland (super close to work) and buying another home in Virginia, spending at least 181 days a year there.

Any insight on the real numbers as far as tax savings and so on? We plan on having our tax guy run the numbers for us but figured I'd ask around.

How would this work with a Maryland CCW permit (in the process of obtaining right now, yes - we have G&S) ?

I hear it is cheaper but anyone have any real data or good source ball park data?

Wondering if we can write off our Maryland house 100% on taxes for business since the only reason we would be keeping it is because it is close to work? Kind of like how Congress has places to live in DC for when they are working are write that off as a business expense (guessing the do, don't know this as fact).

First you would have to change your forum name. Lol, I don't have real numbers, but It seems that your real taxes would be lower, even with the car taxes and inspections. I have a friend that has just done that and in the long term he plans to retire in VA so it is a good move for him. Clearly in the short term VA has better gun laws, but if McCauliffe is elected, taxes and bans are on your way.

It should be no problem keeping your MARYLAND permit, once you have it if your G&S doesn't change. If you don't already have Virginia, it's easier to get (no fingerprints and non-resident application to State Police) once you're a resident. Just show proof of training, check for $100, self addressed stamped return envelope and court clerk will notarize your application. If don't already have Utah, get it before you move, then do a change of address. On your next renewal you'll need to show you have a Virginia permit.

 

[MikeTF]

$50 for residents, no fingerprints. $100 non residents, yes to fingerprints.

4 hour classroom course for $45 at gun show or hunter safety, etc. Live fire not required.

Sent from my smartphone using Tappatalk 2.

 

[RustinRifle55]

I looked at lake front property at Smith Mt. I cannot afford to live there.

 

[rouchna]

$50 for residents, no fingerprints. $100 non residents, yes to fingerprints.

4 hour classroom course for $45 at gun show or hunter safety, etc. Live fire not required.

Sent from my smartphone using Tappatalk 2.

Your MD gun safety online certificate works as well. That's what I used when I got my CHP.

 

[rh92]

Take me to VA with you!

 

[TheBert]

Wife and I are thinking about keeping our place in Maryland (super close to work) and buying another home in Virginia, spending at least 181 days a year there.

Any insight on the real numbers as far as tax savings and so on? We plan on having our tax guy run the numbers for us but figured I'd ask around.

How would this work with a Maryland CCW permit (in the process of obtaining right now, yes - we have G&S) ?

I hear it is cheaper but anyone have any real data or good source ball park data?

Wondering if we can write off our Maryland house 100% on taxes for business since the only reason we would be keeping it is because it is close to work? Kind of like how Congress has places to live in DC for when they are working are write that off as a business expense (guessing the do, don't know this as fact).

About 22 years ago I moved from Virginia to Maryland. I did not have to pay the Virginia personal property tax, which at the time was about $700 for my vehicle. When I changed my withholding from Virginia to Maryland my net pay was reduced by $50 per week, which was $2600 a year. Then I called my auto insurance company and told them about my new addressed. They guy on the phone told me to just double what I was paying and to thank Baltimore City for the increase in costs, I was paying about $500 per year which jumped up to $1000. For the "privilege" of moving to Maryland It cost me about $2400 the first year. I am sure that you will be able to pay for your place in Virginia with the money that you save on Maryland taxes and Maryland auto insurance costs. You will still be subject to the "Rain Tax."

 

[Jude_FA18]

My wife and I just purchased a get away in VA. We'd like to change our residency. We'll be there around 100 days a year. Is 181 the magic number?

 

[Boom Boom]

My wife and I just purchased a get away in VA. We'd like to change our residency. We'll be there around 100 days a year. Is 181 the magic number?

Within MD, 183 days is the magic number, when MD considers you a full-time resident for tax purposes.
http://taxes.marylandtaxes.com/Indi...iling_Information/Determine_Residency_Status/

If you're able to reside in MD less than 183 days but continue working here as an employee or contractor with MD taxes withheld, then you get nailed with a 1.25% nonresident tax. It's a special reminder that MD hates you. See "Tax Calculation" at this link:
http://taxes.marylandtaxes.com/Indi...y_Status/If_You_are_a_Nonresident_Filer.shtml
A way to avoid the tax is by being an independent contractor living out of state and monthly invoicing instead of receiving a direct paycheck.

 

[2AHokie]

Within MD, 183 days is the magic number, when MD considers you a full-time resident for tax purposes.
http://taxes.marylandtaxes.com/Indi...iling_Information/Determine_Residency_Status/

If you're able to reside in MD less than 183 days but continue working here as an employee or contractor with MD taxes withheld, then you get nailed with a 1.25% nonresident tax. It's a special reminder that MD hates you. See "Tax Calculation" at this link:
http://taxes.marylandtaxes.com/Indi...y_Status/If_You_are_a_Nonresident_Filer.shtml
A way to avoid the tax is by being an independent contractor living out of state and monthly invoicing instead of receiving a direct paycheck.

VA has an agreement with MD. For a while, I lived in VA and worked in MD. My MD employer withheld VA taxes at VA rates and I filed a VA income tax return. I didn't pay a penny in MD income tax until I made the mistake of moving here. There's lots of details, but the OP could very well escape MD income tax and keep his job if he can stay under the 183 day number.

From your link:

You are not required to file as a nonresident if:

-Your Maryland gross income is less than the minimum filing level for your filing status;
-You had no income from a Maryland source; or
-You reside in Pennsylvania, Virginia, West Virginia or Washington, D.C., and earned only wages in Maryland. For more information, see If You Are A Nonresident Working In Maryland (below) and the instructions in the Maryland nonresident tax booklet.

 

[Boom Boom]

VA has an agreement with MD. For a while, I lived in VA and worked in MD. My MD employer withheld VA taxes at VA rates and I filed a VA income tax return. I didn't pay a penny in MD income tax until I made the mistake of moving here. There's lots of details, but the OP could very well escape MD income tax and keep his job if he can stay under the 183 day number.

From your link:

Very good catch. Missed that part. Looks like he would be good to go then, if the employer cooperates.

 

[redeemed.man]

$50 for residents, no fingerprints. $100 non residents, yes to fingerprints.

4 hour classroom course for $45 at gun show or hunter safety, etc. Live fire not required.

Sent from my smartphone using Tappatalk 2.

MPD (DC Police) has an on-line gun safety course similar to what MD used to have which will qualify you for the VA permit. It is FREE!