Business
You know the old saying that home is where the heart is. The idea is that home is where your social life is centered around, often where your family resides. It is also the place that fixes your location for state income tax purposes. In this episode, I discuss the concept of domicile and how it impacts your overall tax bill. I will also talk about statutory residency, where you could be taxed as a resident even if you consider somewhere else home.
If you are interested, you can follow this link to read Maine's guide on state residency for tax purposes. Each state is different but I find Maine to follow the general trend in this area of tax law. https://www.maine.gov/revenue/sites/maine.gov.revenue/files/inline-files/residency_guidance_2019.pdf
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If you or someone you know has a tax problem and needs help now, call our office at 207-502-7181 or email us at jwade@jdwadelaw.com. We will be glad to help you. Otherwise, please enjoy our content and let us know if there are topics you'd like us to discuss.
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