Questions tagged [relocation]
The relocation tag has no usage guidance.
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Taxation on Annual Incentive Plan bonus after relocation to a different US state
Each year, Bob, a US tax resident, receives some money in February from his employer in the US as his Annual Incentive Plan bonus. During the year 2022, Bob relocated from California to Washington ...
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Relocation gross receipt taxed or pretaxed
Company $A$ is providing me relocation package of certain amount for every mile travelled for a certain total amount of miles. Say they pay me $X.
https://www.irs.gov/newsroom/irs-issues-standard-...
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Taxation details when changing states in the middle of the same job
I looked up the answer to this question with the specific details that it has but couldn't find one.
Let's say you have a work-from-home job with a NYC-based company. You are a NY resident and you ...
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Are postmark dates applicable for repayments as per IRS publication 525?
If I owe my employer repayment of benefits such as relocation/sign on bonus that occur in a single calendar year (say $10k signing bonus paid in March 2020) - if I mail a check in to repay the ...
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Retain wage level in another country
TL;DR: I want to move to the EU from the U.K. and keep the same pay (though not a Euro-using destination.) Is this possible?
I’m living and working in the U.K. but want to move to an EU country. I ...
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What are the tax implications of paying back taxable relocation?
In a situation where you start a job:
$30k taxable relocation benefits
$18k tax grossup (FICA/federal/state income tax)
Relocation owed back decreases 1/24 monthly until 2 years pass
Relocation all ...
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Taxes regarding relocation - Final Move/Travel
If my spouse and I both get relocation package from different employers, and both employers cover the final move/travel (from current address to out-of-state new address) for 2 of us, can each one of ...
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How should a receipt of a tax nomad be formatted?
I understand that the concept of a "tax nomad"; i.e, a freelance who works with a laptop and relocating to different countries gradually (say, once a year or once in two years) is becoming more ...
user95374
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Is money paid by a moving company for delay of shipment taxable income, or need to be reported when itemizing?
I recently had an interstate move for a job that passed the distance test. In the process of the move my household goods were delayed transit. Since the delay exceeded the allowable window, the moving ...
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Should relocation to more expensive area affect home-ownership decision?
I am about to relocate (from outside the US to Massachusetts) for a limited time period (~4 years). Compared to my current job and expenses, both prices and wages should be approximately X1.5 times ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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: ...
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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, ...
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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 ...
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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 ...
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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 ...
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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 ...
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"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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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?...
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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 ...
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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 ...
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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?
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