Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (6) | Ignore Thread Prev | Next
Author: inparadise Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121572  
Subject: Re: Tax impact of Changing State of Residence Date: 12/11/2012 3:48 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
I'm sure you've done this, but be certain to closely check the residency requirements in VA as they relate to in-state tuition. Many states go to great lengths to prevent people from doing what you've described.

Yes, thank you. We briefly looked at doing this for Eldest whose first choice was an out of state state school for which we are paying $20,000 more per year than state residents. Heck, that difference would have paid for the house we never quite got around to buying.

Fortunately, we already own the place in VA, so it is not a question of do we buy or not. I intend to be very nosy with the schools Youngest tours to see what the scoop is. This was just an exercise to determine if it made sense or not, as filing separately would probably kill the tuition savings.

On a side note, Eldest probably would not have gotten into his school if he had been a resident. It has been frequently discussed and articles have been written that many state schools will give higher paying students a bit more understanding when it comes to slip ups. His GPA was definitely not as good as it could have been, although he did turn it around the last couple of years and had some great extra-curriculars. This semester's grades are not in yet, in fact last final is today, but it sounds as though he is more than holding his own.

IP
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (6) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Economic Implications of Cuba
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement