Moving Expenses Forum

Anonymous User · Post by **Anonymous User** » Mon Aug 13, 2018 1:52 pm

Firm has advised paychecks will be significantly smaller to account for the taxes related to bar/moving expenses that firm pays for directly. Can anyone give an idea of what "significantly smaller" means if usually bi-weekly checks are around $4,300? Just trying to budget accordingly and I have no concept of taxes. TYIA.

kyle010723 · Post by **kyle010723** » Mon Aug 13, 2018 4:07 pm

Anonymous User wrote:Firm has advised paychecks will be significantly smaller to account for the taxes related to bar/moving expenses that firm pays for directly. Can anyone give an idea of what "significantly smaller" means if usually bi-weekly checks are around $4,300? Just trying to budget accordingly and I have no concept of taxes. TYIA.

Why don't you just ask HR? Also why is moving expenses and bar expenses coming out of your paycheck? Usually the firm pays for it.

hoos89 · Post by **hoos89** » Mon Aug 13, 2018 4:35 pm

This is unusual. Those expenses should be tax deductible.

dabigchina · Post by **dabigchina** » Mon Aug 13, 2018 4:43 pm

hoos89 wrote:This is unusual. Those expenses should be tax deductible.

I think tax reform took away that exemption. My firm also warned me about this. Some firms have been grossing up compensation so that associates don't wind up receiving less money on their first paycheck but different firms have been approaching this change differently.

Anonymous User · Post by **Anonymous User** » Mon Aug 13, 2018 4:44 pm

It's my understanding moving expenses are no longer tax deductible under the Tax Cuts and Jobs Act of 2017 unless your military or gov't employee

https://www.hrblock.com/tax-center/irs/ ... -expenses/

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