Re:De-Location Package: Keep Your Career and Live Beyond the...
by closeparen on Saturday March 18, 2017 @01:32AM
(#13900051)
Qualifying relocation expenses can be reimbursed tax free. A bonus is subject to income taxes.
As a perk, you'd only get $4-5k back (30% marginal federal income tax, 9% marginal CA income tax, 6.5% Medicare and social security tax).
Re:De-Location Package: Keep Your Career and Live Beyond the...
by amorphid on Saturday March 18, 2017 @02:36AM
(#13900207)
My company gave me a relocation bonus and used a third party service to handle it. I got all of the money upfront, and had to sign a document saying I'd pay back a prorated amount if I left the company within a year. I was asked to submit reimbursements directly to the third party, so I didn't have to give the receipts for my fictional BDSM dungeon to the company directly. The taxable portion was the total bonus minus any moving expenses. I liked this model.
- offering a perk to some employees that you don't offer to other employees could get you in trouble
- say all delocated employees are from SF are young white males, and an older black woman want a delocation bonus to move from a non-SF city to somewhere else (hint: I bet your lawyer is gonna say you need to cancel the perk, or offer it to everyone, and I would agree with that lawyer)
- as an new employee eligible for your delocation reimbursement, I'd rather it just be a bonus, as I don't wanna have to explain to the company exactly what I spent the money on (why is it any of your business that I spent $8,000 at Kink Movers to relocate my 50 Shades Of Grey Inspired BDSM Dungeon?)