Thanks. I'm going to look into this when I complete my 2013 taxes. I still think that there would be a big difference if I claimed residence in West Virginia compared to a state like New Jersey.
The tax thing is not unique to NJ. It is all of USA. You can just file a non resident form for the duration and the tax rate should be different.
I use to live in Mountain View...lived there for 4 years from 2006-2010. Really, what you're paying for is location. Easy access to 85/101/280/237, can work in either SF or SJ, easy access to both airports, etc. My rent was always pretty cheap for the area, but with south Bay Area housing prices through the roof, I'm not surprised that apartment rents have increased.
A friend of mine lives in downtown San Jose and he and his girlfriend pay ~$2,400 for a 1BR/1BA. He said that if they wanted 2BR it'd be only an extra $500 or so a month. It seems like apartments really feed off the singles and young couples who make good money but haven't saved up enough to put in a decent downpayment on a $1M house.
There are a shit-ton more 1%ers who don't ship anything offshore, but that doesn't stop others from seeking blood.
Relevant post to a large decision in my life. My wife and I are actually considering moving states and "downsizing" our lives and going more modest. Right now she makes close to double what I do and makes a *very* decent income. But we have a $1500 a month mortgage payment + $10,000 a year in property taxes, pay close to $15,000 a year in daycare and just constantly feel like we are racing around and neglecting our kids.
If she makes it through the interviews in the other state we'll strongly consider dropping down to one income. My son has been sick with pneumonia this whole week and we've not been able to take him to daycare, but still have to pay for it, still have to arrange babysitting so we can go to work. And it's just a rat race of getting up, getting kids shuffled out the door, coming home stressed, pulling some food out a box throwing it on the table and then basically going right into the bedtime routine.
We're just not happy with our lives and there's got to be a better way. The area we are looking into has a decent cost of living, we can get a decent family home for $250,000 and only have a $2500 a year property tax. Me dropping off the payroll is like an instant return of $20,000 in taxes. Plus we'd maybe even quality for a credit or two for the kids. Add in the day care savings. The lack of need to find summer daycare for my school age kid, no after care need. The fact that I can actually take time to prepare real meals before my wife gets home. Ect. Real net change to our household income would be around $1000-$1500 a month less. Plus I'd lose out on retirement savings. We wouldn't have two shiney new cars in the driveway like we do now, our house wouldn't be as fancy as it is now, and we probably wouldn't be taking as expensive as vacations. But the drop in stress, freedom with the kids and overall scaled down life sounds fairly liberating.
We're fortunate she has a job that it's even a consideration.
On a side note, where are you thinking of moving?
He should come to S.C. since we lost you.Not to prod, but with your wife making well over 6 figures and having a what amounts to $2350 a month mortgage/tax payment, what would keep you from going to one income where you currently live?
On a side note, where are you thinking of moving?
Looks at location....KY, really? A state named after sex lube?<--- Waves hands in the air...I know...I know....
But I'm not spilling the beans! :ninja:
He should come to S.C. since we lost you.
That's the going rate for one with a gym, close to public transportation, in unit washer and dryer and being relatively new. I'd venture to guess half the people in my apartment complex work for Google or Stanford med.
Not even close. MY TOWN, DAMN IT.I was actually going to say that Greenville, SC is one of the best places to move if you are looking for a great quality of life for cheap.
Looks at location....KY, really? A state named after sex lube?
:biggrin:
Not even close. MY TOWN, DAMN IT.
I was having to stagger my rent payments in order to pay my loans, she says. One paycheck went to loans and the other went to rent [for my apartment in Manhattan]. What little surplus she had was spent on food, leaving next to nothing available for savings.
fixed.Haha. Greenville is probably one of the highest costs in the state (with the exception of Charleston), but it does have a lot to do and anything will feel like a huge breath of fresh air compared to IL.
fixed.
:biggrin:
Around $125-150k is probably where things start going much more smoothly.
Not to prod, but with your wife making well over 6 figures and having a what amounts to $2350 a month mortgage/tax payment, what would keep you from going to one income where you currently live?
But the drop in stress, freedom with the kids and overall scaled down life sounds fairly liberating.
I make enough that it's hard to quit. Selling our current home and unlocking equity to apply to another place puts us into a *much* lower payment, the property tax burden is a fraction of what we have now, and it just gives us a chance to sort of "reset" our priorities. My wife is interviewing in Lexington, KY and my job options are limited and won't pay anywhere close to what I'm making right now.
We'd lose the grandma *please bail us out!* card moving there which is a massive luxury we have right now. So between the lower income on my part, the decreased flexibility in shuffling kids around and the ability really reduce our monthly overhead it gives us an opportunity to better consider changing things up.
I make enough that it's hard to quit. Selling our current home and unlocking equity to apply to another place puts us into a *much* lower payment, the property tax burden is a fraction of what we have now, and it just gives us a chance to sort of "reset" our priorities. My wife is interviewing in Lexington, KY and my job options are limited and won't pay anywhere close to what I'm making right now.
We'd lose the grandma *please bail us out!* card moving there which is a massive luxury we have right now. So between the lower income on my part, the decreased flexibility in shuffling kids around and the ability really reduce our monthly overhead it gives us an opportunity to better consider changing things up.
This is actually a very good point that liberals, like Dave, seem to ignore, particularly when they are blathering about the "poor" "looking out for their best interests". We have a couple resident P&Ner's who use that line frequently.
Apparently, while this logic works for minimum wage earners and union members, it's not allowed for the 1%er's or "rich", Instead, they are required, in the liberal mind, to look out for others' best interest. It amazes me the double standards that are used in liberal logic.
I live in New Jersey and we have the largest exodus of people leaving the state EVER! It's expensive to live here. I know a family that pays $12,000 in property tax. You also have to deal with the cops who want to only pull people over so they can generate revenue.
I just found out yesterday that although I have taught in Asia last year I still have to pay New Jersey taxes because I'm still considered a resident. I was in South Korea for the full year and I still have to pay NJ taxes!
Anyway, $100K seems like a lot of money, but it's not really that much today.