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Legalease, Lawyer
Category: Employment Law
Satisfied Customers: 16379
Experience:  13 years experience in employment law, unions, contracts, workers comp law
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I am receiving a relocation assistance from my employer . I

Customer Question

I am receiving a relocation assistance from my employer .
I understand that some stuff is tax deductible and some is not
They wrote an agreement to which I signed
I need someone to help me understand it so that I can decide what is included and what should I purchase
Is 9k and I was told that I can use it up to the last penny or I lose it
Submitted: 1 year ago.
Category: Employment Law
Expert:  Legalease replied 1 year ago.
Hello there ---If you receive relocation assistance from your employer then that is a job expense and if everything that the move costs you is covered by the employer's assistance, you do not qualify for any additional tax deductions for moving expenses. HOwever, if the charges for moving end up being MORE than the assistance offered, then that is when you are entitled to take the remaining amount as a tax deduction. My suggestion here is that you get some estimates from moving/relocation companies so you will have a starting point of what all this will cost whether or not you choose to do it all yourself (depending upon the amount they want to charge, you may want to let a moving company do it all or most of it). -MARY