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Where to live near NYC
Any views on Roosevelt Island? I was looking at craigslist and there were some 2 bedrooms for 2000-2500$. Seems like a good deal. But would anyone know if its a close enough commute to Grand Central. What public transport takes you to Manhattan from there. This sounds like a good alternative to pricey midtown manhattan and far away Long Island City. No?
Where to live near NYC
QuoteOriginally posted by: virusAny views on Roosevelt Island? I was looking at craigslist and there were some 2 bedrooms for 2000-2500$. Seems like a good deal. But would anyone know if its a close enough commute to Grand Central. What public transport takes you to Manhattan from there. Roosevelt Island Tramway?
Where to live near NYC
What if one lives in NYC and works in CT? NY has significantly larger taxes than CT esp. when city tax is included. So does one end up paying that?QuoteOriginally posted by: cougar91If you live in NJ but work in NYC, you pay NY State income tax first, then offset that on your NJ state income tax (no double taxation). So basically you pay NYS income tax.You do NOT have to pay any NYC tax, not NYC resident income tax and no NYC commuter tax (was rejected by the NYS legislature), despite what mayor Bloomberg wanted.
Where to live near NYC
Yes you do have to pay the higher of the 2 taxes. Here is the general rule of thumb: if you live in state/locality A and work in state/locality B, and A has higher tax than B, then you pay B first and pay the difference to A. If A has lower tax than B then you pay B first and take a credit on A, which generally means little or no tax to A in the end. So it is the more of the two.
Where to live near NYC
What would the difference be in the end between NYC and CT tax, i.e., living in NYC and working in CT as opposed to living and working in CT.
Where to live near NYC
I am not that familiar w/ CT rates as I live in NJ and work in NY, but here is a good link:http://swz.salary.com/salarywizard/layo ... l#taxrateI think for NY it would end up 1% or 2% higher than CT. I know for NY-NJ comparison it is 2-3% higher in NY as NJ has more tiers with lower rates.