Taxes- working in NYC
You file a non-resident return in NY, and a NJ resident return. We usually receive a refund from NY and have to pay NJ. Usually it works out that our net is about $1,000 in our favor, but we put $10,000 in a NY 529, which is deductible from NY income, so your figures might be different, but it most likely won’t be a big difference.
thank you!
The NY job pays $10k more but we have to factor in commuting and any “loss” in taxes. Thanks!
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it’s been a long time since I worked in NYC and for most of that time I lived in NY. Husband is about to take a job in NYC. I understand I’ll have to file NJ state taxes to recover what’s paid to NY (or maybe it’s vice versa?).
My question is- is it generally about equal from a taxation perspective or will working in NY cause a large extra tax burden? I’m looking for a generality kind of answer. I know exact amount based on income, etc.
Right now (he’s still deciding between 2 jobs), just want to know if we have to factor in that the NYC job will “cost us” in taxes or am I to assume roughly equal?