[AZRNJ]

Hi,

I am currently split on 2 opportunities that I have in hand and need to make a decision.

One is a job in NYC and the other a job in NJ.
I am considering all aspects of the jobs, but need to make APPLES to APPLES comparison in Dollar terms.

I need to calculate the tax I would pay for the NYC job and the tax I would pay for a NJ job.

Can someone help me out (ASAP) with how to calculate the taxes.

Thanks.

AZRNJ :confused: :confused: :confused:

[CaptainForest]

Where do you live now? In NJ or NYC? Or are you planning to move to the city once you take your job?

Are we talking minmum wage or higher?

NYC is very expensive to live in, might be cheaper to live in NJ.

[AZRNJ]

Where do you live now? in NJ or NYC? Or are you planning to move to the city once you take your job?

Are we talking minmum wage or higher?

NYC is very expensive to live in, might be cheaper to live in NJ.

I live in NJ.. will stay in NJ after as well.
I own a home in NJ.. so no chances of moving.
The job is a higher level pay... 6 figures. And NJ is 6 figures.. only a bit of a difference (15k).

I wanted to know how to calculate the income taxes for some one living in NJ and working in NJ... and Someone living in NJ and working in NYC.

Thanks.
Ali

[AtlantaTaxExpert]

Ali:

If you opt for the NYC job, you will pay more income taxes in NY than in NJ. However, since NJ gives a credit for NY state taxes paid, you will owe no NJ taxes at all.

Since you do not live in NYC, you will owe zero NYC tax.

You should also consider commuting costs as well. Every extra dollar per day in commuting costs adds about $250 annually to your costs, and commuting costs are NOT tax deductible.

Give me the actual salary amounts, your monthly mortgage payment (I will assume you pay real estate taxes and insurance from escrow), your marital status and number of children, and I can give you an estimate as to how much your taxes will be.

[AZRNJ]

Ali:

If you opt for the NYC job, you will pay more income taxes in NY than in NJ. However, since NJ gives a credit for NY state taxes paid, you will owe no NJ taxes at all.

Since you do not live in NYC, you will owe zero NYC tax.

You should also consider commuting costs as well. Every extra dollar per day in commuting costs adds about $250 annually to your costs, and commuting costs are NOT tax deductible.

Give me the actual salary amounts, your monthly mortgage payment (I will assume you pay real estate taxes and insurance from escrow), your marital status and number of children, and I can give you an estimate as to how much your taxes will be.

I get the following error when sending a private message to you:
AtlantaTaxExpert has exceeded their stored private messages quota and can not accept further messages until they clear some space.

Let me know how you want to correspond.. I do not want to share this information publicly.

[AtlantaTaxExpert]

Ali:

You can send me the information to [email protected] or try the private message system again (I have deleted some of the messages to free up the needed space).