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Hello. I planning to purchase a home in New Hampshire and live there when I am not teaching in New Jersey. I plan on living in a school owned apt during the school year. Can I just pay non resident taxes on my teacher salary? Please give me some advice. Thanks.
I would be living in New Hampshire during the summer, weekends, and vacations. Sorry, I wasn't clear on that point. I would need to live in New Jersey during the school week. Thanks for responding.
Since you'd be in NJ for more total time than you'd be in NH, you'll likely end u being considered as an NJ resident- especially since you'll be drawing a paycheck from an NJ-based organization.
Since you'd be in NJ for more total time than you'd be in NH, you'll likely end u being considered as an NJ resident- especially since you'll be drawing a paycheck from an NJ-based organization.
Sorry to be my usual pain, but schools are 180 days a year, so that leaves 185 days to flee the high taxes of NJ. LOL
Sorry to be my usual pain, but schools are 180 days a year, so that leaves 185 days to flee the high taxes of NJ. LOL
Can't though...
Unless there is a reciprocal agreement on taxes between the two states, you technically have to pay state income taxes in both states. Some states will allow you to apply a percentage of your income tax.
Its better, in this case it would seem, to be an NJ resident for the majority of the year, and consider the other home a "vacation house".
You will need to pay income tax to New Jersey for all moneys earned here regardless of whether or not you are a New Hampshire resident or a New Jersey resident. (CuCullin is correct in saying that the only exemption to this if for Pennsylvania residents working in New Jersey.)
Obviously, since you mention New Hampshire, (which has no state income tax other than upon interest and dividends) you are trying to avoid being deemed a NJ resident because you don't want to pay any state income tax on your unearned income. That's a good tax planning strategy.
However, since you'll be working and regularly sleeping in NJ, in an apartment (regardless of the fact that it's school-owned), I think you'll find it difficult to avoid being considered a Jersey resident. But ... maybe?
Read the link. Page six of this link to the NJ personal income tax instructions defines the criteria for who is considered a Jersey resident. Hope this is helpful: http://www.state.nj.us/treasury/taxa...07/071040i.pdf
seems like a crazy idea. But if it works out for you, hackensack is good
and since your going to be spending your time alot in JERSEY more then NH, then your going to be considered a Jersey resident. And pay them Jersey Taxes. And i know NH has high taxes to but... i dont know what to tell you. Just leave NH or find somewhere in NH to do so
seems like a crazy idea. But if it works out for you, hackensack is good
and since your going to be spending your time alot in JERSEY more then NH, then your going to be considered a Jersey resident. And pay them Jersey Taxes. And i know NH has high taxes to but... i dont know what to tell you. Just leave NH or find somewhere in NH to do so
NH has NO state income tax, except, as stated above, on interest and dividends.
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Clarification
