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Questions tagged [relocation]

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8 votes
2 answers
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 ...
Grasper's user avatar
  • 1,209
8 votes
2 answers
1k 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 ...
JonathanReez's user avatar
  • 5,862
8 votes
1 answer
183 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 ...
Nikhil Sharma's user avatar
5 votes
1 answer
695 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 ...
bshor's user avatar
  • 317
5 votes
1 answer
285 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?...
Triplell89's user avatar
4 votes
1 answer
256 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 ...
avgvstvs's user avatar
  • 153
3 votes
2 answers
1k 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 ...
Sidney's user avatar
  • 468
3 votes
2 answers
190 views

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 ...
anonymous's user avatar
  • 1,189
2 votes
4 answers
442 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 ...
algiogia's user avatar
  • 822
2 votes
2 answers
2k 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, ...
Byte Lab's user avatar
  • 251
2 votes
1 answer
425 views

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 ...
enderland's user avatar
  • 4,186
2 votes
2 answers
83 views

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 ...
user12562215's user avatar
2 votes
1 answer
80 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 ...
Chris Morgan's user avatar
2 votes
1 answer
652 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 ...
LasEspuelas's user avatar
2 votes
0 answers
80 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 ...
Samir's user avatar
  • 121
2 votes
0 answers
94 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: ...
jia103's user avatar
  • 141
1 vote
1 answer
674 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 ...
rodey's user avatar
  • 275
1 vote
2 answers
255 views

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 ...
TaxPayingGuest's user avatar
1 vote
1 answer
80 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 ...
MrDuk's user avatar
  • 1,371
1 vote
2 answers
155 views

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 ...
kreltoni paltantino's user avatar
1 vote
1 answer
281 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 ...
Akshat Sinha's user avatar
1 vote
1 answer
57 views

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-...
Turbo's user avatar
  • 213
1 vote
1 answer
40 views

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 ...
enderland's user avatar
  • 4,186
1 vote
1 answer
181 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 ...
JamesD's user avatar
  • 258
1 vote
1 answer
114 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 ...
Interrobang's user avatar
1 vote
0 answers
127 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 ...
Marc's user avatar
  • 11
0 votes
2 answers
123 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?
Geo's user avatar
  • 5,825
0 votes
1 answer
123 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 ...
Santhiratan Mandyam's user avatar
0 votes
2 answers
743 views

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 ...
Matt W's user avatar
  • 549
0 votes
3 answers
253 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 ...
MaviPranav's user avatar
0 votes
1 answer
98 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 ...
zack's user avatar
  • 111
-1 votes
3 answers
282 views

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 ...
user avatar
-1 votes
1 answer
117 views

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 ...
Franck Dernoncourt's user avatar