Wife got an offer in WA and is relocating here soon. But her company is refusing to pay cash for relocation since they have a tie-up with a packing / moving company and is forcing us to use them. Otherwise we will have to relocate at our own cost. The packing company is quoting 15k+ for relocating a 1bhk. Which we have to pay out of pocket and later submit a claim on which tax will be withheld. So, we are looking at a loss of around 6k for relocation. What are my options here? Can we try pushing the HR asking for relocation bonus. Please suggest packers and movers and also a car relocation services I can look into. What cost can I expect? (Moving from TX to WA)
Tax returns will get you back the money paid extra. Check PODS - they are quite good
Moving expenses are no longer tax deductible since 2018
The relocation service they are recommending is probably the least expensive option. Otherwise it’ll be lowest cost to hire a local company at both ends to handle packing and carrying boxes and then drive the household goods in a Uhaul truck yourself.
Wow, I relocated a the bedroom house halfway around the world for half the cost of that. What a rip off.
They almost certainly true up the payment for taxes. Double check on it
Can’t you sell everything and buy again for less than 15K?
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Usually companies pay the taxes by adjusting the payment so that the after tax amount is what you paid out of pocket. Might want to check if that is the case, if not, I wouldn’t work for that company. Tells you a lot how they treat employees.