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Old 09-04-2013, 10:17 AM
 
13 posts, read 19,723 times
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I'm moving from central NJ to Philadelphia next year, but I will continue to work in NJ, telecommuting part-time. I'm just wondering if my paycheck will take a big hit as a result of the Philadelphia wage tax (about 3.9% for residents). Or perhaps overall income taxes will be lower when I become a resident of PA? I'm not counting real estate taxes, I know those are significantly lower on the PA side. That's why my boyfriend wants to buy a place there.

Specifics: Right now I'm living (renting a place) and working in NJ, I make $50K per year or approx. $34K after taxes.

I'm not looking for exact numbers but just trying to get an idea--has anyone else done this? Thanks in advance!
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Old 09-04-2013, 10:59 AM
 
Location: South Jersey
7,780 posts, read 18,921,816 times
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Wage tax is the same whether you are a resident or not. FYI- generally the pa burbs are the same taxes as the south jersey burbs.. Unless you like the city life I would not recommend Philly. Be aware its crowded, not as safe or clean as as the burbs. But if you are okay with that, we need more info on what you are looking for as far as living details.

The wage tax will take about $2000 a tear off the top. + you prop taxes and state etc..
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Old 09-04-2013, 11:28 AM
 
Location: Montco PA
2,065 posts, read 4,290,092 times
Reputation: 1478
Quote:
Originally Posted by anicoled View Post
I'm moving from central NJ to Philadelphia next year, but I will continue to work in NJ, telecommuting part-time. I'm just wondering if my paycheck will take a big hit as a result of the Philadelphia wage tax (about 3.9% for residents). Or perhaps overall income taxes will be lower when I become a resident of PA? I'm not counting real estate taxes, I know those are significantly lower on the PA side. That's why my boyfriend wants to buy a place there.

Specifics: Right now I'm living (renting a place) and working in NJ, I make $50K per year or approx. $34K after taxes.

I'm not looking for exact numbers but just trying to get an idea--has anyone else done this? Thanks in advance!
The Philadelphia wage tax is 3.925% for residents. The PA rate is 3.07%. Both rates are flat, so your total rate is 6.995%. Your NJ rate @ $50k would be 5.525%. Neither PA nor Philadelphia offer any deductions against income (for the most part), but NJ does. However, if you buy in the city, it's possible that your real estate taxes could be VERY low, so do your research. Good luck!!
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