Leaving New York for Miami Can Save Nearly $200,000
People with six-figure salaries can reduce their taxes by thousands annually and benefit from a lower cost of living with a move to Florida.
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For people who make $650,000, moving to Miami from New York can save nearly $200,000 a year thanks to lower taxes and a cheaper cost of living.
That’s according to a new study from financial information provider SmartAsset, which looked at how much people with six-figure salaries in New York, San Francisco and Chicago can save on taxes and other costs if they decamp to the South Florida city.