got a job offer

[MeanMeosh]

i just got a job offer this morning from computer sciences corporation ( www.csc.com ) i'll be working as a wintel engineer in newark, delaware.

i've lived in texas for about 9 years now (india before that - got a green card and became a citizen) and love it here. i'm rather crushed cause i thought the offer would be in texas. however, a job's a job and if moving is required, i'll move (am going to talk to the company to see if i could be located in or near texas).

i would like to know more about the cost of living in delaware. i know there's a state income but no sales tax. i would still have to spend about 30 grand a year in texas to get taxed as much in sales tax as i would be getting taxed in income tax in delaware. what kinda apartment prices would i be looking at (something nice - 1bed/1bath with a big bath)? any other major expenditures i would need up there?

are there any at members in or around newark, delaware? please PM me and you can tell me if my annual salary will be enough for me up in delaware.

 

[Gnurb]

I used to live 5 minutes from Newark, it's a pretty nice town. But I don't have much info on cost of living..

 

[miri]

Try this link

 

[T2T III]

I recall Money magazine used to have a calculator on their site where you could put in your current location and the location you are moving to. You would then get a result telling you how it compared. Also, Money magazine has a yearly issue where they rank states based on taxes - and also provides a breakdown on the taxes for each state. These tools might be useful for you - just search around the money.com site for some more information.

 

[Night201]

Salary Calculator

Note sure of the city you lived/worked in TX, so I chose Dallas, but you can enter the data yourself. Looks like DE is just a "tad" higher...pretty much the same to me though.

 

[randal]

CSC is a great company to work for. I work with those folks quite a bit here in Colorado Springs, a DoD hubzone. Congatulations.

(sorry, no info about delaware, I've only driven through it once.)

 

[MeanMeosh]

bump for the nighters.

state income taxes are deductible from the federal income tax, correct?

 

[T2T III]

Originally posted by: MeanMeosh
bump for the nighters.

state income taxes are deductible from the federal income tax, correct?

Correct, on your Schedule A form. However, the amount of the deductions needs to exceed the standard deduction - otherwise, you're better off claiming the standard deduction. If you decide to rent for a while and don't buy, it will FUBAR your chances for getting more write-offs on the Schedule A for your taxes.

 

[MeanMeosh]

Originally posted by: Tiles2Tech

Originally posted by: MeanMeosh
bump for the nighters.

state income taxes are deductible from the federal income tax, correct?

Correct, on your Schedule A form. However, the amount of the deductions needs to exceed the standard deduction - otherwise, you're better off claiming the standard deduction. If you decide to rent for a while and don't buy, it will FUBAR your chances for getting more write-offs on the Schedule A for your taxes.

what's the correlation between buying a home and write-offs on schedule A? you get to write off interest payments on mortgages or something?

 

[MeanMeosh]

Originally posted by: Tiles2Tech

Originally posted by: MeanMeosh
bump for the nighters.

state income taxes are deductible from the federal income tax, correct?

Correct, on your Schedule A form. However, the amount of the deductions needs to exceed the standard deduction - otherwise, you're better off claiming the standard deduction. If you decide to rent for a while and don't buy, it will FUBAR your chances for getting more write-offs on the Schedule A for your taxes.

what's the correlation between buying a home and write-offs on schedule A? you get to write off interest payments on mortgages or something?

 

[T2T III]

Originally posted by: MeanMeosh

Originally posted by: Tiles2Tech

Originally posted by: MeanMeosh
bump for the nighters.

state income taxes are deductible from the federal income tax, correct?

Correct, on your Schedule A form. However, the amount of the deductions needs to exceed the standard deduction - otherwise, you're better off claiming the standard deduction. If you decide to rent for a while and don't buy, it will FUBAR your chances for getting more write-offs on the Schedule A for your taxes.

what's the correlation between buying a home and write-offs on schedule A? you get to write off interest payments on mortgages or something?

Yeah, lots of write-offs on the Schedule A, such as:

- Home mortgage interest
- Real Estate taxes
- State income taxes
- Charitable contributions
- Etc.

However, as I indicated above, the deductions you plan to take on your Schedule A have to be greater than the standard deduction that the government gives you - or, it's not worth it to take the write-offs.

 

[MeanMeosh]

more bumpage for afternooners

 

[huesmann]

Doesn't Delaware have no corporate tax or something? Incorporate yourself!