Archive for October, 2007

WORRIES ON RELOCATION TAX

I have a friend who worked in a really high-end manufacturing plant back in the state of Washington. The company’s main focus was designing products for the government. This guy I know is a very put-together young man and is very intelligent. He had the idea to expand the company and start a manufacturing company in Chicago where he had researched and found a need for this services. His supervisor was impressed and the company decided to put him in charge of the new project. He was proud of the confidence they had in him, but this involved a lot of things he was not familiar with. He wasn’t too worried about the physical move. The biggest problem he had was how to go about all the paperwork and legalities especially relocation tax compliance laws. He really didn’t have the expertise to do it on his own. He called a few places regarding tax compliance and was assured they could handle what he needed. He was able to rest easier knowing help was on its way. They had a lot of ideas he never would have thought about and helped him avoid problems later. He was glad he only had to work on the physical move and not the legal aspect of it.

Blog admin 26 Oct 2007 Comments Off

MILITARY RELOCATION

We have been transferred again! Moving, I just hate it. It seems like we just got settled in here. My husband is in the military and every few years we have to move to a different base in a different state. We thought we were going to stay put for a few more years so we bought our first house. Because we now had a child we wanted a place of our own. Uncle Sam had different ideas and we have to think about military relocation. We now have to worry about labor markets, tax rulings and real estate markets along with packing up our possessions. We want to keep it as simple and as smooth as possible. I have a lot of questions and don’t know where to find answers. How much is our moving allowance? Are there any other entitlements we can take advantage of? If our new house is not ready are we able to get temporary living expenses? For how long? Does the military help us with the selling of our home and what happens if we have to report to his new post before we can sell it? I don’t think I will ever get used to packing and moving.

Blog admin 25 Oct 2007 Comments Off