Can someone please explain the relocation $ process...just got 5k relo and am confused...
In a F500 developmental program for a year before starting my career at the company. I have a nice program salary etc....but when accepting the offer (a while back) and through all talks thereafter a bonus or relo funds weren't mentioned.
Last week the relo company called and they told me they are given me 5k relo.
I was so excited I didn't really ask any questions lol sooooooo im turing to you wso
I know it is taxed but is it coming out of my first year salary or do I have to pay it back in the future or is it like a "bonus" on top of my salary I accepted with the offer?
Thanks for the help
You need to ask for more details. Is this $5k coming in a check? There is a chance the company will reimburse up to $5,000 of your moving expenses, in which case you'll need to arrange for all the moving and then submit receipts. If you're moving more than 50 miles for the job, most of your UNREIMBURSED moving expenses will be tax deductible, so keep receipts.
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