News that President Trump is packing up his truck and moving permanently south to Florida might be ironic, but it’s not surprising. The 2018 federal tax law instituted a $10,000 cap on state and local tax deductions and a $750,000 limit on the amount of mortgage debt which could be written off. As a result, this last year alone, New Jersey, New York, and Connecticut lost some 110,000 migrations to the Sunshine State. With a lavish estate in Palm Beach, President Trump, not known to sidestep personal profit, will be next, saving some six to seven figures in taxes and calling himself a Floridian just in time for the 2020 election.
Image source: www.stltoday.com & www.searchpng.com