The savings from state income taxes when compared to high tax states may provide Florida's high net worth investors substantial savings.
West Palm Beach, FL (PRWEB) February 26, 2013
It’s that time of year when tax talk seems unavoidable and Patrick Moorton, a Florida commercial real estate expert and President of Florida’s Income Realty Advisors, Inc. is offering advice on why location must be a factor of smart long-term strategy for high-earners and those with income property.
“Taxes are among the biggest expenses retirees face—especially those who depend on earned-income,” said Moorton. “Reinvesting in a tax-friendly state, like Florida, is a long-term wealth-building and wealth-keeping strategy that all high net worth investors who own income-producing real estate must consider seriously.”
It has been debated, usually by low earners, how much of a difference state tax rates make and whether the savings is actually worth relocating. Moorton says it can make a huge difference and mean big savings for some.
“New York, New Jersey, and California all have high personal state income taxes. This is why it’s not uncommon to hear news of celebrities and high-earners with large incomes moving to and reinvesting in a state like Florida, with no personal state income tax,” Moorton said. “The savings from state income taxes when compared to high tax states may provide Florida's high net worth investors substantial savings.”
For those looking to invest in Florida commercial property, Income Realty Advisors specializes in Florida NNN properties or single-tenant net-leased properties in prime high-traffic locations. “Net leased properties combined with tax-saving strategies are a powerful tool for creating and preserving wealth,” Moorton said.
About Income Realty Advisors:
Florida Based Commercial real estate brokerage company Income Realty Advisors Inc. sells income-producing real estate in Florida and offers brokerage services for 1031 exchange buyers seeking Florida commercial real estate. The firm specializes in retail site selection and the sale of single tenant net lease properties with national credit tenants. Clients include developers of Publix, Whole Foods, Walgreens, CVS, 7-Eleven, TD Bank, Chase Bank, High Net Worth Individuals, Insurance Companies, Retailers and Real Estate Investment Trusts.
Featuring commercial income property for sale in Florida, our long-standing relationships with real estate developers, investors, brokers, and real estate investment trusts give us inside access to a constant pipeline of high quality projects. Contact us today to discuss your real estate needs.