personal-finance

Millie Giles & David Crowther4/15/24

Which states have the highest tax rates?

Millions of people will be spending today frantically preparing to meet tonight’s 11:59 pm deadline. Indeed, those in the throes of filing can delight in the IRS’s promotion of “improved customer service”, as the ~100m who’ve already sent returns can enjoy less procedural promos from the likes of Krispy Kreme.

But if lower taxes are a priority for you: where should you move?

Anchorage, Alaska wouldn't be a bad choice — Alaskans enjoy the lowest tax burden, at just a 4.9% income share, while citizens of Florida (6%) and Texas (7.6%) savor the spoils of no state income tax. New York, on the other hand, has the highest tax burden of any state, with a more than 12% share of average personal income being paid in property, individual income, and sales and excise taxes.

And it seems these low taxes are working to attract new residents. Sun Belt hotspots have seen swathes of high-earning households (>$200k per annum) up sticks from traditional financial centers to break lower-tariff ground: according to SmartAsset, a net influx of more than 27k high-earners migrated to Florida between 2020-21, while New York and California saw net outflows of 20k and 27k higher-tax residents, respectively.

Today is Tax Day. The IRS expects ‘tens of millions’ of returns to be filed at the last minute | CNN Business

Today is Tax Day. The IRS expects ‘tens of millions’ of returns to be filed at the last minute | CNN Business

Anchorage, Alaska wouldn't be a bad choice — Alaskans enjoy the lowest tax burden, at just a 4.9% income share, while citizens of Florida (6%) and Texas (7.6%) savor the spoils of no state income tax. New York, on the other hand, has the highest tax burden of any state, with a more than 12% share of average personal income being paid in property, individual income, and sales and excise taxes.

And it seems these low taxes are working to attract new residents. Sun Belt hotspots have seen swathes of high-earning households (>$200k per annum) up sticks from traditional financial centers to break lower-tariff ground: according to SmartAsset, a net influx of more than 27k high-earners migrated to Florida between 2020-21, while New York and California saw net outflows of 20k and 27k higher-tax residents, respectively.

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Claire Yubin Oh

Almost three-quarters of US workers think now’s a bad time to find a quality job

The latest Gallup workplace survey points to a workforce that is struggling but largely stuck.

Frustrated man working from home at laptop

personal-finance

Claire Yubin Oh3/27/26

Wall Street bonuses hit a new record last year, edging toward $250,000 average

2025 was a pretty good year for US stocks... and new data suggests it was an even better one for workers on Wall Street itself.

In a year that saw pretax profits on the Street rise more than 30% to a record $65 billion, dealmakers, traders, and wealth managers raked in ~$246,900 in bonuses on average — an all-time high — per a new report from New York State Comptroller Tom DiNapoli published on Thursday.

Wall street bonuses chart — Sherwood News

According to DiNapoli, last year’s record $49.2 billion bonus pool (estimated using income tax data without including stock options or other deferred compensation) reflects Wall Street’s “strong performance for much of last year, despite all of the ongoing domestic and international upheavals.”

With New York’s acceptance law coming into effect, could cold hard cash stage a comeback?

Though digital payments are now the norm, most US adults remain opposed to the idea of a cashless society.

Crumpled One Dollar Notes Isolated on Blue Background

Inherited homes made up almost 1 in 5 property transfers in California last year

The 18% home inheritance figure was double the rate across the rest of the country.

A Craftsman style home surrounded by palm trees

Standing desk advantage

Americans are spending more of the workday sitting — the jobs driving the trend often come with more money

Software developers sit nearly all day and make six figures. Fast-food workers are on their feet almost nonstop, and earn about $30,000 a year.

Hyunsoo Rim2/11/26

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