Does Facebook allow you to just take a lump sum instead of their relocation benefits for out-of-state hires?
They should if not then you can say you would be moving partly over the spread of few months , me moving first and then my family later so I need lum sum so I can distribute it . That’s what I did while joining msft
I was hired last November. Part of the relocation package was a lump sum that could either be used for moving expenses (pretax) that weren't already covered by the core moving benefit (like flights and packing) or taken as a lump sum (taxed)
Thanks for the insights guys
You get both
Try to maximize things on your plus benefits (core benefits are just paid by FB so no need to worry about that) because the lump sum will be taxed as much as 40%. If you use it up max, you don’t need to worry about the tax
You mean if you take the benefits..(packing /moving /preview trips/temp housing) instead of cashing it out , there is no tax implications? Isn't their a gross up that is reflected in W2 for taxes??
Packing / moving for both household items and vehicles are completely free for FB employees. When you cash out the remaining lump sum for example, $10,000, you will only receive about $6,000 after tax. But if you actually need sth and decide to pay, I suggest you to use up your benefits rather than cashing out and then use it
M
I know they used to. That's what I did 5 years ago. Not sure if it changed