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Old 07-08-2008, 02:06 PM
 
Location: Central New Jersey
1,289 posts, read 5,438,292 times
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Quote:
Originally Posted by wileynj View Post
Yes! You get to write off your taxes so it's all relative. Make more, pay more, write off more : )
Very valid point.
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Old 07-08-2008, 02:07 PM
 
Location: Central New Jersey
1,289 posts, read 5,438,292 times
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Quote:
Originally Posted by wileynj View Post
Yes! You get to write off your taxes so it's all relative. Make more, pay more, write off more : )
Quote:
Originally Posted by doc1 View Post
Depends on how much high it's inflated. NJ isn't exactly seeing an influx of middle income people clamoring to live here.
Exactly, and that is because soon there will no longer be a middle class. It will be poor and wealthy. The northeast is killing the middle class due to high taxes and high costs of living.
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Old 07-08-2008, 02:09 PM
 
Location: Central New Jersey
1,289 posts, read 5,438,292 times
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Quote:
Originally Posted by pete0428 View Post
Im an accounting major and in NJ I will start off at 55k, other areas of the country start off as low as 40k or even lower depending on where it is. I think it even drops off the further south you go in jersey. Im staying a year or 2 with the parents to save up for a downpayment, but I gues ill just have to see what oppurtunities I have at that point as far as salary vs cost of living in different areas. I'm assuming that as I move away from Industry(NY, NJ area) the demand for accountants will not be as great, decreasing my income. I understant that it is not always the case, but in my case, with my job, I think location plays a big part in salary. That is what I mean by inflated salary.

And Doc1, are you saying that as I will be "middle income", I'd be better off looking elsewhere?
Accounting in NJ is one of the few jobs that are currently in demand. All my friends that graduated college with accounting degrees all started with at least $50,000 and some were up to $70,000 depending on qualifications. That is a lot more than most of the people I graduated high school and college with. Many did not even get jobs after they graduated. And the cycle starts again!
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Old 07-08-2008, 02:27 PM
 
Location: Cherry Hill, New Jersey
1,369 posts, read 4,138,247 times
Reputation: 672
I made a lot more in California. I worked in Silicon Valley. Our property taxes and car insurance were much less than here however... The cost of housing there is absolutely insane.
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Old 07-08-2008, 02:33 PM
 
5,617 posts, read 13,387,287 times
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Quote:
Originally Posted by Viralmd View Post
You can't deduct taxes if you qualify for Alternate Minimum Tax, however!
funny no one but you mentioned this!! What do we do??? We need to abolish this tax!!!!! Get rid of it!
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Old 07-08-2008, 03:31 PM
 
13,460 posts, read 14,445,292 times
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Quote:
Originally Posted by pete0428 View Post
And Doc1, are you saying that as I will be "middle income", I'd be better off looking elsewhere?
No, not at all. You're just starting out in life and to me, a 55k salary sounds pretty good for a young person with no mortgage, kids and other such responsibilities.

If you desire to be a young homeowner, or like your "toys" for example, other parts of the country will allow that to be much more likely. If you live in NJ, you better have a plan to advance careerwise and make quite a bit more money. Of course, it all depends on what you want in life, lifestyle-wise.

I would tell you live in an area that strikes your fancy given where you are in life.

My response was geared more towards someone like me (family man, mortgagee, investing for retirement etc).
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Old 07-08-2008, 03:36 PM
 
Location: Stewartsville, NJ
7,577 posts, read 19,970,589 times
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[quote=DodgeViper01;4379047]Exactly, and that is because soon there will no longer be a middle class. It will be poor and wealthy. The northeast is killing the middle class due to high taxes and high costs of living.[/quote]

Not if you are clever enough to hide out in the Northwestern section of NJ - they always forget about us out here
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Old 07-08-2008, 04:32 PM
 
13,460 posts, read 14,445,292 times
Reputation: 7636
[quote=wileynj;4380215]
Quote:
Originally Posted by DodgeViper01 View Post
Exactly, and that is because soon there will no longer be a middle class. It will be poor and wealthy. The northeast is killing the middle class due to high taxes and high costs of living.[/quote]

Not if you are clever enough to hide out in the Northwestern section of NJ - they always forget about us out here
Trenton's tax Gestapo sure found me.
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Old 07-08-2008, 04:34 PM
 
5,617 posts, read 13,387,287 times
Reputation: 2771
[quote=doc1;4380835]
Quote:
Originally Posted by wileynj View Post

Trenton's tax Gestapo sure found me.
this is funny trenton's tax gestapo ha ha ha!!!! They found me too!!!
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Old 07-08-2008, 05:17 PM
 
Location: Stewartsville, NJ
7,577 posts, read 19,970,589 times
Reputation: 1246
[quote=doc1;4380835]
Quote:
Originally Posted by wileynj View Post

Trenton's tax Gestapo sure found me.
With a screen name like "doc"..i wonder why . Blue collar self employed contractor - poverty level!!! . Need a referral for a new accountant by any chance
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