Florida

We are often asked about the weather here in South Florida by people interested in moving to the area. All they know is that they've been told that it get hotter than hades in the summer time.

While it can certainly get hot, especially during July, August and September, there is that wonderful time of year usually beginning in October when we turn off the air conditioning, open all the windows and allow the home to breathe and air out. That time can run for almost a full 6 months or more and what a delightful time of year that is!

To get an idea of how the temperature are during the different times of the year, see the chart below.

Depending on the state you are from and if you own a second property in Naples, Florida, it might be well worth investigating the possibility of establishing your domicile in Florida for the purpose of reducing or totally eliminating income and estate taxes. Enhancing that position, the State of Florida has eliminated the Florida estate tax and repealed the intangible tax on stocks and bonds.

Retirees who have substantial securities portfolios have benefited from the 15% income tax on capital gains, as well as stock dividends. To contrast that, if you were living in the State of New York, both dividends and capital gains are subject to as high as a 7% income tax. The failure of a state like New York to give relief to its wealthier investors has forced…