Saturday's attack is the biggest on Saudi oil infrastructure since Saddam Hussein's invasion of Kuwait in 1990.Energyread more
"Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may," Zarif said on Twitter.Energyread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
Now that the GOP tax bill sharply limits the deduction for state and local taxes, pre-retirees in high-tax states may ponder: Should I stay or should I go?
The final version of the "Tax Cuts and Jobs Act," which was released Friday, places a cap of $10,000 on the deduction filers can take for a combination of state and local income, sales and property taxes. This may be enough to get soon-to-be retirees living in New York, New Jersey and California thinking about relocating to Florida, Alaska and other tax-friendly locales.
"Many people in these high-tax states who are on the cusp of considering retirement will reconsider where they're living – and that changes everything, including your estate planning and retirement planning," said Martin M. Shenkman, a tax and estate planning attorney in Fort Lee, New Jersey.
Before you pack your bags, here are the four key taxes you should know about, and the states with the lowest rates.
Seven states have no individual income taxes: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming.
Tennessee doesn't tax personal income. However, it does tax capital gains and interest for now. State policymakers last year decided to phase out the "Hall tax" on interest and dividends by 2022. For the 2017 tax year, it's 4 percent.
New Hampshire also doesn't tax wages, but individuals pay a 5 percent levy on interest and dividend income.
Regardless of where you land, take a close look at your state's approach toward retirement income.
"Even when you look at a state with income taxes, retirees need to consider which ones don't tax retirement benefits, including pensions, Social Security and IRA distributions," said Jonathan Mariner, founder and president of TaxDay, a tax-focused app that tracks travel across jurisdictions.
Five states have no sales tax at the state level: Alaska, Delaware, Montana, New Hampshire and Oregon.
In all, 45 states and the District of Columbia have a sales tax, and 38 states — including Alaska and Montana — have a local sales tax as well, according to the Tax Foundation.
The states with the lowest combined state and local sales taxes are Alaska (1.76 percent), Hawaii (4.35 percent), Wyoming (5.4 percent), Wisconsin (5.42 percent) and Maine (5.5 percent), the Tax Foundation found.
The GOP tax overhaul doubles the estate tax exemption from $5.49 million per individual to about $11 million. Bear in mind how your state will treat any money you leave behind.
Fourteen states and the District of Columbia have an estate tax: Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Minnesota, New Jersey, New York, Oregon, Rhode Island, Vermont and Washington.
Six have an inheritance tax, which applies to heirs: Iowa, Kentucky, Nebraska, New Jersey, Maryland and Pennsylvania.
"We do see retirees saying that if they have an estate or a family business, that they might move from a state to avoid that tax, as it can be fairly large," said Morgan Scarboro, policy analyst at the Tax Foundation.
Levies you pay on property you own can add to your bill in retirement, especially in places like New Jersey.
In the Garden State, homeowners face a mean effective property tax rate of 2.11 percent, the highest in the country, according to the Tax Foundation.
The five states with the lowest taxes on property are Hawaii (0.28 percent), Alabama (0.40 percent), Louisiana, (0.50 percent), Wyoming (0.51 percent) and West Virginia (0.53 percent), according to data from the Tax Foundation.
Though state and local taxes matter when you're choosing your retirement destination, you should consider a multitude of other things, including the cost of living. Local laws are always in flux, depending on a state's given funding needs, so great deals on taxes now may not last.
"Be prepared for things to change," said Tim Steffen, director of advanced planning at Robert W. Baird & Co. in Milwaukee. "Some attractive states are looking at ways to manage their revenue issues, and wherever you move now, it may not be the same environment in a few years."
WATCH: Three key senators have yet to make decisions on GOP tax bill