You’ve been offered your dream job — except it’s across the country and you know that could mean a several-thousand-dollar moving bill. So before you accept the offer, make sure to ask your potential new employer about the availability of relocation assistance.
Sometimes, larger employers (and occasionally some smaller ones) will foot the bill for some or all of your relocation expenses if moving will be a burden or the cost of living in the new city is higher — but they won’t always offer it up out of the kindness of their hearts. It may be up to you to negotiate for this perk as part of your overall compensation or benefits package.
But don’t go into this negotiation unarmed, as you could underestimate your needs and accept too little. Instead, do your homework to determine the true cost of everything a long-distance move would entail. If, for instance, you’re moving from Tucson to Chicago, you’ll want to call several Tucson moving companies for quotes.
The quotes should include all potential moving expenses, such as:
- Truck Rental
- Transportation Expenses
- Storage
- Packing and Unpacking Services
- Packing Materials
- Transfer of Vehicles
Then, present this detailed estimate in writing to your new employer so they can see real numbers.
They may choose to offer you an upfront lump sum to spend as you wish (so you could choose to pocket some of that money by, say, packing and unpacking yourself and then save those extra funds for a vacation down the road) or reimburse you for some or all of the expenses after the move (be sure to save all your receipts as they will need to be submitted as proof). If the company does pay your moving expenses, that money is generally added to your annual taxable income so don’t be surprised at those numbers come tax season.
If the employer refuses to pay for relocation, try asking for a signing bonus instead to help cover some of the cost.
If all else fails, you may be able to deduct some of the moving expenses on your federal income tax return. There are several stipulations to qualify for this deduction, so it’s best to seek the advice of a professional tax accountant before finalizing your decision.
Once you’ve accepted your new job, it’ll be easy to hire one of the Tucson movers you’ve already obtained a quote from and be on your way to the next chapter of your life.
Still looking for that quote? Contact E-Z Move today.
