Do you work in NY but live in NJ?

Do you work in NY but live in NJ?

NY will provide the total amount of income earned although this is the incorrect income actually earned in NY. Your tax preparer will determine the correct amount of income to be allocated to both NY and NJ. I work and live in New York, but the company I work for is located in NJ.

Is there a tax credit for working in NY and living in NJ?

This will be largely separate from your state tax returns. There is no specific credit for “work in NY, live in NJ taxes,” but New Jersey generally offers a tax credit for taxes paid to taxing authorities outside the state.

Do you have to pay New York state taxes if you work in NJ?

Yes and no. You won’t have to pay New York City taxes, and you won’t be fully double taxed on your state income. Your employer will have withheld New York state taxes throughout the year, and you will then gain a New Jersey tax credit back for those taxes.

What to do if you work in New York and live in NJ?

File a non-resident tax return for the state of New York and report income and withholding for income earned there. When you file your income taxes for the state of New Jersey, report all of your income no matter where you earned it. Make sure to apply for a credit for any taxes you paid for New York.

Do you have to file taxes if you live in NJ and work in NY?

If you live in New Jersey and work in New York, you have to file tax in both states. According to TurboTax, if you work in New York and live in New Jersey you have to file an income tax return for both states. You must pay New York State income tax on any income you earned while you were working in that state.

Can a New Jersey resident file a W-2 in New York?

W-2 reporting for New Jersey Residents working in New York. The New York portion of the W-2: By law, New York employers are required to report in Box 16 of your W-2 the same amount that is reported in Box 1, regardless of what portion of the wages were actually earned in New York.

Is it free to live in New Jersey?

Many parts of New Jersey have more of a suburban feel. Depending on where you live, you can park your car in your driveway or apartment parking lot for free, and head to the grocery store, or take the kids to baseball practice. Did you know that, in addition to New York state taxes, New York City levies a city tax?