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    r_punnoose's Avatar
    r_punnoose Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 27, 2007, 12:22 PM
    Working in NYC and Living in NJ
    Hello,

    I am in the process of going on several job interviews - all of which are in New York city. I realize that at least $5K of my salary would be going towards travel. However, my concern is double taxes. Currently, I make $55K and while the jobs offer more money (one offers $63K and the other low to mid 70s), I wonder if it is pointless to consider them because of the double taxes I may have to pay. How does this work?

    Debating in NJ
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Mar 30, 2007, 12:20 PM
    There is no double taxation.

    When you file the NY return, you will pay the taxes for income earned in NY.

    When you file the NJ return, NJ gives you a credit for the taxes paid to NY. Since NY tax rates are higehr than NJ, the credit normaly COMPLETELY OFFSETS any NJ taxes owed.

    Have ONLY NY taxes withheld when you begin working in NY.
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