Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
is it unwise to live in NH and work in MA? i know a lot of people do it. property taxes are higher in NH correct? so is it a terrible financial decision to buy in NH? how does the income tax work? any info appreciated.
is it unwise to live in NH and work in MA? i know a lot of people do it. property taxes are higher in NH correct? so is it a terrible financial decision to buy in NH? how does the income tax work? any info appreciated.
For many it's the other way around. We live in NH, and my husband worked in MA for 10 years. We couldn't afford a house in MA unless it was a not so desirable place to live. Taxes are higher in NH, but the cost of homes is much less. If you live in NH and work in MA, you just file a MA state income tax, along with your Federal.
Hi Freckles
That's a really individual thing, and certainly not a terrible thing at all to consider. I know many people who chose to do that, because while NH property taxes are higher than MA, property values as a whole are higher in Mass. You might want to look at the financial effects of both scenarios...
If you and/or your husband works in MA, MA income tax will be deducted from your check, and you'll file a Mass Non-Resident (Form 1 NR/PY). My son's taxes get very complicated, since he works for a NH contractor, and does quite a bit of work in Mass. He has to pay MA income taxes for the jobs he does in MA. The company my husband works for just moved to their headquarters in MA, so now we're paying NH property tax, MA income tax, plus a commute. Mass income tax is a flat rate of 5.3%
The prices of homes in Mass. get lower as you move away from Boston and closer to the NH border, and on the NH side, the closer you are to the MA border, the higher the prices (in general). It's sort of 6 of one, half-dozen of the other, and you decide what kind of commute, neighborhood, etc you want to have. I think we have the "quality of life" thing going on up here, of course you need to check out both and see what you prefer.
what Val said - you just file a mass tax form and pay at the llower 5.3% rate. unfortunately, your spouses income will also be taxed even if she/he did not work in MA.
MA looks at the total income per couple and then does a calculation to figure what percentage of the income will be taxed. It is not strictly MA income.
Hi Freckles
That's a really individual thing, and certainly not a terrible thing at all to consider. I know many people who chose to do that, because while NH property taxes are higher than MA, property values as a whole are higher in Mass. You might want to look at the financial effects of both scenarios...
If you and/or your husband works in MA, MA income tax will be deducted from your check, and you'll file a Mass Non-Resident (Form 1 NR/PY). My son's taxes get very complicated, since he works for a NH contractor, and does quite a bit of work in Mass. He has to pay MA income taxes for the jobs he does in MA. The company my husband works for just moved to their headquarters in MA, so now we're paying NH property tax, MA income tax, plus a commute. Mass income tax is a flat rate of 5.3%
The prices of homes in Mass. get lower as you move away from Boston and closer to the NH border, and on the NH side, the closer you are to the MA border, the higher the prices (in general). It's sort of 6 of one, half-dozen of the other, and you decide what kind of commute, neighborhood, etc you want to have. I think we have the "quality of life" thing going on up here, of course you need to check out both and see what you prefer.
Valerie -
What exactly do you mean by "quality of life". Just curious as to what makes NH, in your opinion, have a higher quality of life than MA. It's a decision my family has to make as well, whether to be in Northern MA or Southern NH.
I love EVERYTHING about NH, except the property taxes. And believe me when I say, that all the towns I love (all the towns with a pretty and lively downtowns) seem to have enormous property taxes.
I know what you mean about getting stuck with the "state" income tax, since your husband works in MA. Many people do not realize that they will have to pay that MA income tax for working there, and will not benefit from NH's "no state income tax".
So I'm hoping to get your perspective on "quality of life". I have heard that MA provides more services to residents than NH. That would make me think MA would offer a higher quality of life. However I'm uncertain what services they are referring to. But if it's NH that has it higher (quality), what makes it so?
I wanted to mention this somewhere in these forums so I'll post it here. This may be true of other states and towns as well, but I only found out a couple of years ago that Londonderry has a tax discount for veterans. It's now $500. a year.
what Val said - you just file a mass tax form and pay at the llower 5.3% rate. unfortunately, your spouses income will also be taxed even if she/he did not work in MA.
MA looks at the total income per couple and then does a calculation to figure what percentage of the income will be taxed. It is not strictly MA income.
Wow, I wonder who gave them this sort of federal authority?
Or did they just take it, like most peoples democratic republics?
Quality of life... mostly it's sort of intangible, and some of the things that I love about NH, others might say "not for me!" Also, the services that are offered will vary greatly from town to town, and it's very important not to go to a town (in either state!) that has lower property values and lower taxes thinking "What a bargain!" just to find out that they have lousy selections at the high school level, no sports, band, activities, fire department, etc. Many cities and towns in Mass. have stopped music education (school bands) or the parents have to pay for it, as an after school activity. Of course much of this is on a town-by-town basis, so plenty of research in the coming months...
I can honestly say that here where I live (Londonderry) the services offered in schools are 2nd to none. My 2 older children had attended school in Massachusetts (and Missouri) and with the all of the cutbacks in Mass. with Prop 2.5, many programs were cut. However, my youngest started 1st grade confined to a wheelchair, and the Londonderry district provided his every need, and I didn't have to fight for his rights--it was just done, and done right.
I do think that as a whole, Massachusetts might have more services for handicapped, elderly, people with issues of whatever sort. For example, New Hampshire had an insurance program up here called Healthy Kids, which a parent could purchase if their employer didn't provide health benefits. It wasn't a "gimme", it was help. In Massachusetts, the welfare system is out of control and people make it a way of life because they can....
I think quality of life is also NOT having the problems of gangs, drug dealers, etc. in my kids faces at school on a daily basis. Kids don't grow up as fast, well maybe that's not for the best in this world where street smarts seem to be rewarded, but I enjoy that my kids are age appropriate, and their friends seem to be as well.
The little things count as well. Lights, for example. I like to be outside at night, stargazing. The Geminids (meteor showers) peaked Thursday and Friday night, and I sure was glad that after it was done snowing, I got to grab a lawn chair and a sleeping bag and park myself in the driveway to watch the show, and not have to drive miles to get away from the city lights
I didn't like it either, and my spouse most certainly did not. But MA is not the only state to do this. ME also taxes your spouse even if they did not work in the state.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
