Tax havens are attractive destinations because you can live and make money while paying little or no taxes. However some tax havens are more attractive because they also offer an appealing lifestyle at low cost.
The country with the best quality of living on the list has to go to France. Despite the obvious language barrier, this will easily be made up for with the culture and cuisine this amazing country has to offer. If you are planning to retire with a large income, then France might not be the best option as the top rate of income tax in France is 49.8%, however retired couples with income of $70,000 or less would still be better off making the move because in France there are lower rates the lower your income.
Income from government, military, private pension and other retirement plans is growing increasingly important to the survival of retired individuals. Some states exempt all such pension income from taxation, while others exempt certain types or place limits on non-taxable pension income. Some states even tax former residents on retirement plan withdrawals, creating the possibility of paying income tax in two states. Some states follow federal tax formulas for taxation of Social Security benefits, others have their own formulas, and some tax benefits not at all.
The best way to relax in Antilles is to take a boat and explore the beautiful coral reefs which are home to Antilles. To do your bit for the environment and take part in the campaign for the protection of these natural wonders.
This therefore makes the country less appealing than other Caribbean tax havens as confidentiality isn’t high priority. Lifestyle in Anguilla is also not as exciting as in other destinations, however if Lobster fishing tickles your fancy, this is one of the only things to do in this country.
It is also important not to overlook the effect of estate taxes upon the surviving spouse. Some states do not provide an unlimited marital deduction. Property ownership laws must also be examined in this area when considering the distribution of possessions upon death. Changes in these laws must be monitored as many states will attempt to make their financial environment more appealing to retirees.
It’s really too bad it takes an IRS tax lien attorney to convince the IRS to be reasonable. But that’s exactly what has to be accomplished. You don’t have to accept a lien blindly, because there are options available.