New Job Offer

[Bimmerbill]

I just received a job offer in a neighboring state. My current state has no income tax, but the neighboring state does. So, I would pay income tax at the new job.

Does anyone know of a good online paycheck calculator to determine the impact of the income tax? I guess I am looking to see if taking the position would make sense financially (more $, or break even) or end up at a loss.

Thanks,
Bill

 

[Da Nag]

My employer sends us to Paycheck City for various calculators - don't know of any others, but the paycheck calculator is "state aware".

 

[brewer12345]

If you are close enough money-wise that you have to figure out state taxes, there had better be other reasons to take the job other than money.

 

[Brat]

It is my observation that each state nips you one way or the other to pay for services. You probably pay sales tax now and if you are young and buying 'stuff' it adds up. Except for places like NYC, MA, and CA your total tax burden is probably a push.

 

[Scrooge]

It is my observation that each state nips you one way or the other to pay for services.  You probably pay sales tax now and if you are young and buying 'stuff' it adds up.  Except for places like NYC, MA, and CA your total tax burden is probably a push.

According to his posting history, Bimmerbill is 39 with a brand new baby, so he probably has to buy quite a bit of "stuff". Having said that, there are many differences between states/localities: income taxes, property taxes on houses on cars (sometimes), sales taxes, etc. On top of that, housing and insurance may be considerably less/more expensive than what you are used to. You really want to take a close look at the whole picture.

 

[Bimmerbill]

I've been lucky with buying "stuff." We received a massive amount of hand me downs from everyone- the benefit of having a kid later in life after most of my family/friends already have older children.

The new job is a GS12, up from a GS11, so the raise would be pretty good. I just hate the thought of paying income tax. I never have.