View Full Version : I work in NJ but live in NY, how much taxes will I pay?
igomez
May 10, 2007, 07:56 AM
I currently work in NJ, but I live in NY... Will I have to pay both state taxez and if so how much? I am married with no children and I make 27,000. I'm also having trouble filling out my W4 form (or is it W2? ). Should I choose "married, but withhold higher rate..." or should I just choose married, which one will provide me more money?
Thank You.
AW805
May 10, 2007, 09:44 AM
You'll have to file in both states, however, file Non Resident Income Tax form in NJ. You'll probably owe $ to NY but should get a refund from NJ.
ebaines
May 10, 2007, 10:09 AM
I would suggest filling out the W4 for NJ as "married," and not withhold at a higher rate. As for how much you will owe: NJ will tax you on the money you earn in NJ. If your taxable income is $27K/year from your NJ job that will be about $400/year. Then NY will tax you on your full income, but give you a credit for the amount of state tax paid to NJ. NY's tax rate is higher than NJ's, so you will probably end up owing NY some additional amount - NY's tax on $27K taxable income is about $1180; subtracting the $400 credit for taxes paid to NJ means you'll owe NY about $780. Of course your actual amount will vary, depending on things like exemptions and credits or other sources of income, but this should give you the general idea.
AtlantaTaxExpert
May 10, 2007, 01:18 PM
Ebaines covers it all; nothing to add.
igomez
May 11, 2007, 06:34 AM
I currently work in NJ, but I live in NY... Will I have to pay both state taxez and if so how much? I am married with no children and I make 27,000. I'm also having trouble filling out my W4 form (or is it W2??). Should i choose "married, but withhold higher rate..." or should i just choose married, which one will provide me more money?
Thank You.
I think it would it be better if I just moved to NJ! Thanks for the advice everyone! I'll surely take it into consideration.
AtlantaTaxExpert
May 11, 2007, 08:03 AM
Glad to help, but moving MAY be a bit extreme. The tax filing is not really that complex.