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Old 07-14-2007, 04:30 PM
gnu gnu started this thread
 
Location: Northern Virginia
55 posts, read 250,737 times
Reputation: 31

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I've not been able to get a consensus on how tax works in this situation, so I was hoping some New Jersians who actually do this might shed some light.

If I have a job in NYC, but live in say, Jersey City or Hoboken, what taxes will I pay aside from the Federal income taxes? Which state income taxes will I pay (or both?) and would I still have to pay NYC city taxes (commuter tax?).

I would prefer to live close to work in downtown Manhattan, but if the tax implications are favorable, I might choose to live in Jersey instead - I'm moving up from the DC area next month. Also, is the commute very long from the Jersey shore to downtown Manhattan? How much a month is the ferry/PATH train?

Thanks for any information you folks can provide.
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Old 07-14-2007, 06:26 PM
 
7 posts, read 34,239 times
Reputation: 11
Yes you have to pay both NY and NJ state taxes in addition to the Federal. You get a tax credit back for the NY taxes on the NJ tax return. You do nto pay NY city tax or commuter tax.

Path costs $24 for 20 ride card.

I hope this helps you.
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Old 07-14-2007, 06:36 PM
gnu gnu started this thread
 
Location: Northern Virginia
55 posts, read 250,737 times
Reputation: 31
Yes, that's very helpful. Is 100% of the NYS taxes you pay refunded?
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Old 07-15-2007, 08:38 AM
 
7 posts, read 34,239 times
Reputation: 11
Not exactly. You get a tax credit back. It all depends on your other income.
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Old 07-15-2007, 10:38 AM
 
Location: 32082/07716/10028
1,346 posts, read 2,203,660 times
Reputation: 167
Quote:
Originally Posted by mridul View Post
Yes you have to pay both NY and NJ state taxes in addition to the Federal. You get a tax credit back for the NY taxes on the NJ tax return. You do nto pay NY city tax or commuter tax.

Path costs $24 for 20 ride card.

I hope this helps you.
whatever you pay to NYS is credited against your NJ taxes
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Old 07-16-2007, 05:27 PM
 
1 posts, read 7,556 times
Reputation: 10
Hey everyone - our family needs your help!

My wife and I are relocating to the NYC/NJ area and need your advice. We are looking to rent and know that NYC is waaaay too expensive. We have two young children (6 yr old girl), and need to make the right decision for all 3 of us.

1. I will be working in NYC - my office is most likely on bayside.
2. We would like to limit the commute by bus or train to an hour or so
3. We need an area with decent schools
4. The rent for at least a 2 bed needs to be $2k or less.

We truly appreciate any help all of you can be on this!! [/i][/i]
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Old 07-16-2007, 05:32 PM
 
Location: Central New Jersey
1,289 posts, read 6,097,752 times
Reputation: 300
Quote:
Originally Posted by mazandar View Post
Hey everyone - our family needs your help!

My wife and I are relocating to the NYC/NJ area and need your advice. We are looking to rent and know that NYC is waaaay too expensive. We have two young children (6 yr old girl), and need to make the right decision for all 3 of us.

1. I will be working in NYC - my office is most likely on bayside.
2. We would like to limit the commute by bus or train to an hour or so
3. We need an area with decent schools
4. The rent for at least a 2 bed needs to be $2k or less.

We truly appreciate any help all of you can be on this!! [/i][/i]
I know of quite a few properties available. Shoot me an e mail or PM and I would be glad to help you. I also just sent you a PM.
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Old 07-16-2007, 05:42 PM
 
Location: 32082/07716/10028
1,346 posts, read 2,203,660 times
Reputation: 167
Quote:
Originally Posted by mazandar View Post
Hey everyone - our family needs your help!

My wife and I are relocating to the NYC/NJ area and need your advice. We are looking to rent and know that NYC is waaaay too expensive. We have two young children (6 yr old girl), and need to make the right decision for all 3 of us.

1. I will be working in NYC - my office is most likely on bayside.
2. We would like to limit the commute by bus or train to an hour or so
3. We need an area with decent schools
4. The rent for at least a 2 bed needs to be $2k or less.

We truly appreciate any help all of you can be on this!! [/i][/i]
if on bayside means bayside queens ny, NJ is the last place you want to move to, consider places in nearby queens or on LI
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