Questions tagged [relocation]

The tag has no usage guidance.

8
votes
2answers
3k views

Is house swapping possible?

I'm thinking of relocating but I'm stuck with the house and the mortgage. I researched the possibility of house swapping but all I found was about when you go to a vacation you can swap your house for ...
7
votes
2answers
378 views

Is it legal to move to a different US state before moving out of the country to avoid paying state income tax abroad?

Today I've learned that Americans have to pay state income tax based on their last residency address, even if they relocate overseas. So let's say you know you will be moving from the US to another ...
7
votes
1answer
148 views

Relocation to US

I am relocating to Texas from India along with my family in the month of July 2019 to pursue a Phd. In order to effect a smooth transition, would like some advice on how to setup things to manage my ...
5
votes
1answer
267 views

Home sale: No right to terminate?

I'm making an offer on a house. I was informed that the seller, a relocation company, is asking for the following: a right of the buyer to inspect but "no right to terminate." That is, I would have ...
5
votes
1answer
232 views

Company relocation allowance was taxed as income, but then forfeited & paid back. How can I get the tax back?

I recently quit a job where I was forced to pay back a portion of relocation expenses the company gave. This money was taxed as income. What will I have to do to reclaim the taxes I paid on that money?...
4
votes
1answer
202 views

Employer-Paid relocation as taxable income?

My employer will be reporting nearly $40k in relocation expenses, all directly paid by the employer to the respective companies. (Moving company, etc.) What kind of tax liability am I going to ...
2
votes
4answers
351 views

Relocating - Shall I sell my house now or wait for its value to increase?

For work reasons I have to relocate. I currently own (it's been just over a year) a house for which I am paying a mortgage. I'd like to make something good of this purchase so I was wondering if ...
2
votes
2answers
497 views

What distinguishes a moving allowance from a “relocation bonus”?

When moving a certain distance for employment (say moving across the country for a new job), one can deduct some of the moving expenses to lower their AGI. This is done by filling out IRS Form 3903, ...
2
votes
2answers
813 views

Relocating for first real job out of college?

So a little bit of back story - I am about 6 months out of college, worked through most of it in fast food and retail, and have only been working in a job related to my field (computer science) for ...
2
votes
1answer
56 views

Temporary relocation to Massachusetts

My company is looking to temporarily (6months) re-locate me to Boston from California. I think I will be keeping my permanent residence as my home address in CA. My question is, will I need to file ...
2
votes
1answer
543 views

Relocating and buying a house simultaneously - How to handle pre-approval on fluctuating yearly income?

The background is as follows. We are currently renting and want to buy our first home as we are relocating for a new job. My new job starts 1st June 2013. My current job ends May 31st 2013. My yearly ...
2
votes
0answers
73 views

Would it be possible to exclude relocation reimbursement from income if I incurred it in 2017 but received in Feb-2018?

I have recently filed 2017 taxes and received my refund. There, I'd some qualified excludable moving expenses under W-2 column 12d (code P). However, I had not submitted all of relocation expenses ...
2
votes
0answers
85 views

What should I consider when claiming relocation expenses in a particular year?

I recently changed jobs with my employer offering relocation assistance as part of the compensation package. I have up to a year to claim the relocation expenses, which consist of the usual items: ...
1
vote
1answer
588 views

Relocation payment from company and tax deductions

Good day everyone, I accepted a position with a company and the company has provided a fixed amount of funds for a relocation that is going to be paid as a lump sum amount. The relocation agent told ...
1
vote
1answer
63 views

Are relocation expenses that are expensed by employers taxed at the same rate as normal income?

Since the beginning of 2018, employer paid relocation expenses are now taxed as income for the employee (me). How is this taxed, though? Is it at my normal income rate, or is it considered a bonus ...
1
vote
1answer
49 views

Tax on Irish ETF as US tax resident

I am moving to the U.S on a H1B visa. I have a portfolio of accumulating ETFs domiciled in Ireland. What will be the tax implications of this in the U.S if I plan to rebalance this portfolio every ...
1
vote
1answer
173 views

Relocation confusion

In the UK the government has rules on relocation. https://www.gov.uk/expenses-and-benefits-relocation/what-to-report-and-pay It states that I do not have to report qualifying costs up to 8k. I have ...
1
vote
1answer
97 views

Is corporate housing provided as part of a relocation package tax-deductible?

I have a question about Publication 521 (Moving Expenses). The publication indicates that lodging during the move is a deductible expense. When we moved, my employer paid for us to stay in a hotel ...
1
vote
0answers
115 views

Are there tax implication on buying US stock while on a job transfer?

I work for a startup company in San Francisco and will be transferring to our London Office in April. Right now, I have vested a little over half of my allotted shares with the company, but have yet ...
0
votes
2answers
66 views

What tax advantage should I keep an eye for if I am going to relocate?

I am about to start a relocation process across the US. I will be moving about 1,000 miles away from my current city. What should I be looking for to benefit from my relocation?
0
votes
3answers
71 views

Closing bank account in Europe and transferring to USA

I'll be relocating from Europe (Italy) to USA soon, similar to this question but vice-versa. Is the cheque in euros to be cashed by a new US bank, also the best option here? As a second part of the ...
0
votes
1answer
78 views

“After-Tax Deductions” - Where do they go?

Last year I made $23,000, and I paid $8149 in taxes to Federal/State/Medicare/SS/Disability. However, I also got a Relocation bonus of $9,000, $4,770 of it was deducted. However, this deduction did ...
0
votes
0answers
66 views

Relocation: how much will I get?

In my offer letter, this statement is written: "With reference to the discussion and the terms of the offer, the Company is pleased to offer you a relocation bonus at XXX in Bangalore. You will be ...
-1
votes
1answer
41 views

Relocating to India and reg remittances

I am relocating back home. I am trying to transfer my tax paid salary saving to a joint ICICI account in which My mother is primary account holder and I am secondary. I will be using money transfering ...