I’m an incoming FT starting training virtually in July. I was told by HR to be ready to come to the office after training in September but that we still may be WFH.
I was planning to do virtual training from my parents house and then move to city in September, even if it will still be WFH for a while. It seems to be a bit of a waste of rent money but not sure I can take being home for much longer.
What is everyone else thinking about moving plans given the current virtual training / WFH situation?
Same spot as you but I'll be staying at my parents house during training and likely the first few months on the desk. They live in a low tax rate state and city which is obviously good and I'll be saving $2k a month in rent. Each firm will likely give you ample time to find a place and move in once things are good to go.
I would be cautious about your expected tax savings as you are still employed in NYC just temporarily not in the office. If WFH was permanent then where you live would matter for taxes but you are most likely still going to be taxed at NYC rates.
Further, I would be weary about "Each firm will likely give you ample time to find a place and move in once things are good to go." If HR told OP to be ready to be in the office by a specific date (my firm did the same) then they most likely will not give time to move once it's time to go back. If you live at your parents' and your firm goes back to the office soon, you should be prepared to move on a weekend during training to be there for the date HR gave.
You're probably still on the hook for NYS taxes, but not NYC. (Consult an accountant) that 3.5% or so isn't insignificant.
I’ve stayed in NYC throughout the entire pandemic. It was very boring at the beginning since the weather wasn’t good, but it’s been a great time over the past month. Everyone basically decided the quarantine was over. Go search any video for East Village, Williamsburg, UES, etc on Twitter and you can see for yourself. The parks and outside of bars been filled with everyone drinking. We should be hitting Phase II on Monday, meaning bars/restaurants can put tables out for people to eat and drink. You wouldn’t be missing out by any means if you didn’t come back early, but if you want to get out of the house, its worth coming.
Thanks for the insight. Good to know that things will likely be going on when I decide to move in
sublet for cheap.
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