July 19, 20205 yr I have recently moved for work, and my company doesn't pay for movers or real estate agents or such. They give you a lump sum and say, "Figure it out." (I very much like that.) So the payment came and they withheld income taxes. Is that taxable? Will I get it back when I file income taxes. I moved myself, and my expenses were mostly gas, trailer rent and road food. I assume that and any other relocation expenses are deductible?
July 19, 20205 yr Moving expense deduction is no more (Trump tax law change) unless you are active military with a base change. The payment to you is taxable and should be in your W-2. If they would have paid the expenses directly, they may have not been income to you and may have been deductible by them in certain circumstance.
July 20, 20205 yr If your company was worth a shit they would have increased the reimbursement by 1/3 so your after-tax money would be about the agreed upon amount.
July 20, 20205 yr 9 hours ago, Parliament said: I have recently moved for work, and my company doesn't pay for movers or real estate agents or such. They give you a lump sum and say, "Figure it out." (I very much like that.) So the payment came and they withheld income taxes. Is that taxable? Will I get it back when I file income taxes. I moved myself, and my expenses were mostly gas, trailer rent and road food. I assume that and any other relocation expenses are deductible? So how is the North Pole this time of year? Have you heard about the winters?
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