Salaries Are High But So Is The Cost Of Living
For many fields, particularly those that require highly skilled workers, salaries in New York are higher than those in other cities. But before you get too excited about the fact that salaries in New York tend to be higher, keep in mind that the cost of living in New York is higher, too.
Luckily, there are plenty of financial experts around to help you figure out how to keep your finances in check. These are the top 10 New York financial advisor firms.
The Visa Waiver Program
Weve already mentioned the VWP. Its a UK-US agreement that gives British visitors the right to stay in the States visa-free for up to 90 days. You cant use the time for actual employment, but you can use it for job-hunting. Whats more, a 90-day stay in New York City will give you a proper taste of life there, and itll help you decide if thats what you really want.
Ways To Get A Job In New York City
While the Big Apple is known for museums, restaurants, shows and nightlife, its also a great place to take advantage of the vast opportunities and move forward in your career. Almost every industry is represented here, and you can work at any size company, from a small start up to an established multinational.
Applying online with a smart cover letter and resume can help you get your foot in the door, but in New York City, you also have to put in face time and meet people. In other words, network network network! Dont believe the stereotype about New Yorkers theyre actually quite friendly. Just be comfortable answering the question: What do you do?
In NYC, you really never know when youll meet that person who just might lead you to your next job opportunity. New York is a big city, but because its so big, there are a lot more ways to network that are unique to the people who live here. Here are 7 approaches you can take:
1. Your Personal and Professional Networks
Its not uncommon for someone to reach out to their old coworkers when theyre hiring or know of a job opening at their company. Referrals from your personal connections are also an excellent way to get an introduction that can help you land an interview for your dream job. New Yorkers work to build their networks and make an effort to stay connected to people by attending reunions and gatherings with former coworkers, or sometimes by just sending an email or text to say hello.
2. Alumni Groups
3. Dog Parks
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The Best Places To Live If You Work In New York City
Getting a job in New York City can be very exciting, but with the city’s ever-increasing real estate market, finding an affordable place can put quite the damper on your excitement.As of February 2016, the average rent for an apartment within 10 miles of New York, NY is $3519. More specifically, a one-bedroom apartment can run upwards of $3,152 a month, while a two-bedroom averages about $3,932 a month, according to Rent Jungle.
With the rise in rent and the high demand for apartments in Manhattan and Brooklyn, residents have begun relocating to surrounding areas in an effort to avoid the city’s nearly unbearable cost of living.
Check out some of the best up-and-coming locations where many people who work NYC but live on a budget have started settling down in.
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New York: Taxation And Social Security
Taxation: Surprisingly Low, but Bear in Mind the State Tax
Resident New Yorkers pay federal income tax to the US Internal Revenue Service and state income tax to the New York State Department of Taxation and Finance. In general, the United States pursues a low taxation policy. The amount of federal income tax you have to pay as a foreign worker depends on your residency status and income.
Resident aliens are usually taxed like US citizens, while non-resident aliens only need to declare their income from US sources. On the IRS website, you can find more information on taxpayer regulations, including the method to determine your residency status. People who continue to pay tax in their country of origin can be exempted from paying federal income tax if their country has a double taxation agreement with the US.
However, such agreements only prevent double taxation on a federal level and dont affect state income tax. New York State tax tables and rates, including the New York City Resident Tax, are available on the website of the Department of Taxation and Finance.
Plan Ahead: Social Security and Pensions
Social security in the US covers old age, survivors, and disability insurance. Employer and employee each contribute 6.2% of the personal income to social security , as well as 1.45% each to Medicare . At the age of 67, anyone who has earned 40 social security credits over the years is eligible for retirement benefits. A maximum of four credits can be earned per year of work.
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I Live In New Jersey But I Work In New York Can I Still Take A Credit For Taxes Paid To New York
I’m not sure what credit you are asking about, or why you think you might not “still” get it. On your New Jersey resident income tax return you get a credit for part of the income tax that you pay to New York. In TurboTax, prepare your New York nonresident tax return first, then your New Jersey resident tax return, to make sure that the credit is calculated correctly. The credit is called “credit for income taxes paid to other jurisdictions.” There is no change in this credit for 2021. If you got it in past years you will get it for 2021.
Work Permits For The Usa
Once youve got your heart set on NYC and youve found a company that want you, your last obstacle is the visa. There are several options open to you, which we explain a little bit here. Please note that the vast majority of work-based US visas rely on you having a job offer from a licensed American companybefore you move there.
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Exchange Hacks And Crypto Scams In New York
Despite the aggressive approach that the New York Attorney General has taken to crypto regulation and prosecution, some shady people have still attempted to make a quick buck off naive investors.
Perhaps the biggest crypto scam related to New York is the most popular stablecoin: Tether . The New York Attorney General, Letitia James, has brought a suit against Hong Kong-based iFinex Inc. – the operator of Bitfinex and the owner of Tether – alleging that the company to cover unreported losses.
This could have been a hack of Bitfinex, who would have then decided to coverup the intrusion and payout customer withdrawals by creating new Tether.
Tether, which claims though has never definitively proven to be backed 1:1 by U.S. dollars, denies the allegations and is disputing them in court.
On a smaller scale, there have been a number of people charged in New York for Bitcoin scams.
One man was arrested at JFK airport on his way back from Ukraine, where police found him in possession of thousands of ill-gotten credit card numbers. The DoJ alleges that Vitalii Antonenko earned more than $140,000 in BTC from selling these card numbers over a period of six years.
Antonenko used SQL injection attacks to scour the internet for websites with vulnerabilities that were likely to expose sensistive information, from where he obtained the credit card numbers. Police were alerted after seeing a large volume of BTC exchanging hands on a third-party website for well below the market rate.
Does Binance Work In New York
As of March 2021, Binance is not available to any customers living in New York.
If this ever changes, we will update this page to reflect that change.
Keep in mind that no one in the United States can ever use Binance.com.
Binance has a special website for US based customers at Binance.us
Due to US regulations, Binance US is more strict about handling KYC and AML of new customers.
This just means that verification may take a little longer than it would on regular Binance.
The biggest difference between Binance US and regular Binance is the coin support as well as some of the features available to users.
Because of this, you shouldnt just look at the supported coins listed on binance.com and assume Binance US will sell it to you.
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Tips For Maximizing Your Money
- Come up with a budget and stick to it. Instead of spending $5 a day on a latte, put that money in one of the best savings accounts where you can earn interest.
- Work with a financial advisor. In addition to helping you craft a financial plan and identify your financial goals, a financial advisor can help you determine the right investments for your financial situation, time horizon and level of risk tolerance. A matching tool like SmartAssets SmartAdvisor can help you find a person to work with to meet your needs. First youll answer a series of questions about your situation and goals. Then the program will narrow down your options from thousands of advisors to three fiduciaries who suit your needs. You can then read their profiles to learn more about them, interview them on the phone or in person and choose who to work with in the future. This allows you to find a good fit while the program does much of the hard work for you.
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Bitcoin & Cryptocurrency Trading In New York
New York can lay a convincing claim to be the center of world finance. Certainly, the city is the undisputed capital of American banking and business.
With the face of finance changing so rapidly over the last two decades, you may think that the New York establishment would be open to new ideas, new technologies, and new forms of money.
New York was an early haven for Bitcoin enthusiasts and innovators, such as Charlie Shrem’s startup BitInstant which was founded in Brooklyn in 2012.
Yet the aggressive approach that New York’s financial regulators have taken makes things difficult for many New Yorkers looking to get into crypto.
The BitLicense – a license only issued to government-approved firms – means that all exchanges and cryptocurrency service providers operating in the state are highly regulated. It could be argued that this protects New Yorkers from shady operators, or that it drives them to seek out other, less regulated providers.
The introduction of the BitLicense was met with applause by some sections of the crypto community – such as Gemini’s Winklevoss twins – and resignation by others such as ShapeShift, Bitfinex, and Kraken, the latter of which called it “a creature so foul, so cruel that not even Kraken possesses the courage or strength to face its nasty, big, pointy teeth.” No other U.S. state has taken such a proactive approach to the creation and tightening of laws regarding cryptocurrencies and digital assets.
I Live In Ca And Working Remotely In New York City So My Work State Is New York And Resident State Is California Will I Be Taxed By Both The States
Your home state of CA can tax ALL your income, regardless of where you earn it. Your non-resident state of NY can tax your earnings from work you perform in an NY location, including remote work.
So you will file a non-resident NY tax return in addition to your resident home state CA return.
You’ll be able to take a credit on your CA return for the taxes paid to NY on the portion of your income that is taxed by both states. So you won’t be double-taxed.
When you do your returns in TurboTax, be sure to complete the non-resident NY return first, before you do your CA return, so that the program can apply the credit correctly.
Note: If you maintain a permanent place of abode for “substantially all” of the tax year, and you spend 184 days or more in NY during the taxable year, you’ll have to file your NY return as a resident. This is more fully explained in this reference:
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Things To Know About Working In New York
Thinking about working in New York? There are some features of work life in the Big Apple that set it apart from the work culture in other cities. Is it true that if you can make it there you can make it anywhere? Were not making any promises, but we can give you some tips about what working in New York is really like.
Check out our 401 calculator.
The Permanent Residence Card
Also known as The Green Card, the Permanent Residence Card allows you to live in the United States indefinitely. Most people dont manage to get one until theyve spent at least a few years working in America on a temporary visa, so you probably dont need to think about getting one just yet. However, if you want to know more then check out the USCIS page on green cards here.
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Being A Working Parent Is Expensive In New York
New York has some of the highest childcare costs of any city in the nation. Being a working parent in New York is expensive and its not easy, given the long hours New Yorkers put in. New York has a lower rate of working mothers than many other major U.S. cities, in part because the high price of childcare makes it hard for many New Yorkers to earn more than they would have to pay for childcare.
Does Cryptocom Work In New York
Crypto.com is available in 49 U.S. states. You can surely guess which state is the final holdout. Yep, you got it: New York.
We are now available in 49 states in the U.S. It was not easy to do, but we’ve done it. So everything besides New York basically is done and dusted.
We don’t have a date for New York. As you know, New York State is the most complicated state in the US to launch with the BitLicense and whatnot, so no immediate plans for New York.
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Federal Work Study Program
Positions are fully funded by the U.S. government and are awarded to eligible students as part of their financial aid package. Funds are earned by working on- or off-campus for an hourly wage.
To receive funds, you must file a FAFSA and indicate you would like to be considered for this program. After the FAFSA has been filed, New York Institute of Technology’s Office of Financial Aid will determine your eligibility and level of funding.
Federal Work Study Community Service: Students who have FWS can use these funds to work off-campus at non-profit employers. These positions offer excellent resume-building experiences and opportunities to network. Positions are open to students of all majors.
How to Accept/Decline FWS Award
- Sign into your New York Institute of Technology portal > my.nyit.edu
- Select NYIT Connect: Students and sign in with your NYIT User ID and Password
- Search for the Finances Section on the left side under the Academics tab .
- Go to Financial Aid and select Accept/Decline Awards.
- Select the Aid Year you wish to review
- Accept the Disclosure to view aid.
- Review each award and corresponding message. You may Accept/Decline or Reduce any or all of the awards that are currently available.
- Submit your changes
About Times Talent Reach
New York Times Jobs and Times Talent Reach maximize employers access to qualified job candidates. Job postings are optimized for higher exposure on job search engines, and postings are distributed to targeted, relevant paid job sites.
Based on job matching algorithms, candidates are automatically screened and ranked. Times Talent Reach continuously monitors the performance of each job posting, and adjusts the recruitment campaigns to maximize responses from qualified candidates.
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New York Work Culture Takes Some Of Its Cues From Silicon Valley
Some New York workplaces are taking their cues from the start-ups of Silicon Valley, implementing casual attire, flexible workdays and other features. In an effort to compete with companies in other cities, some New York companies are expanding the perks they offer their workers, so if youre lucky enough to get a job in one of those companies, youll find that working in New York has its compensations.
New York: Job Search And Accommodation
Job Hunting: Dont Forget the Hidden Job Market
If you are looking for a job in New York, the New York Times job market, whether in print or online, should be your first source of information. Alternatively, a regular internet search should result in various other search tools and databases for vacancies and employers in New York City. Websites such as Jobsin New York, for example, advertise local jobs for those who speak English.
In the US, its generally said that less than half of all job opportunities are openly advertised, so giving unsolicited applications a go can definitely be worth the effort. Check the New York Yellow Pages for contact details of suitable businesses, or ask your nearest US Chamber of Commerce for a list of companies with branches or business associates in New York.
The Bureau of Labor Statistics Occupational Outlook Handbook is recommended reading if youd like to get an overview of the US labor market and find out more about occupations currently in demand.
The Job Market in NYC Even Harder as an Expat
A general word of warning: unless you are sent to New York on an expat assignment, or you are a renowned specialist in your field, getting a job in NYC can be incredibly difficult for overseas applicants.
Get Your Wallet Ready: Housing in the Big Apple
Plan Enough Time: Finding Accommodation
Sometimes, young professionals on average incomes unwilling to compromise on size and location consider flat-sharing as a more affordable alternative.
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