Tax benefits for the people who stay in NewHampshire and work in Boston.?
HI All, I need an expert advice ( from the Tax filing people or any other who has more understanding and knowledge on the properties, tax benefits, etc.) regarding the below question. As of now I m renting an apartment in Boston and working in Boston. In Boston there is state tax. So I want to move to NewHampshire which is tax free state. Do I get refund of all the taxes paid from my paycheck if I stay in NewHampshire even though I work in Boston? Thanks
United States - 3 Answers
People's Answers, Critics, Comments, Opinions :
Answer 1 :
You will still pay MA tax because you earn the money there. If you worked and lived in NH you would pay no tax.
Answer 2 :
No, you will not save a dime in taxes by moving to NH. MA will continue to have the right to tax your income that you earn in MA. And because of how the MA tax laws work, you may pay HIGHER taxes if you have unearned income either in MA or NH as a non-resident of MA. Unless you can rent in NH for less than the difference between the added cost of commuting to Boston and your Boston rent (and don't forget the major hassle of rush hour commutes into Boston!) moving to NH is probably not a worthwhile idea. Keep in mind that property taxes in NH are sky-high and those will be reflected in the rent that you'll pay in NH. The old days of "bargain-rate rents" just over the NH state line are LONG gone!
Answer 3 :
doesn't work that way, your tax home is where you work and since that is Boston even if you move away from there, that is where you work and that is where you file
Read more other entries :
