Squeezing the Last of the Assignment Benefits

Not really getting any bottom line benefit, but trying to negate the impact of taxable benefits from our overseas work assignment that ended in 2008.

Since our China assignment ended in 2008 it would make sense I wouldn't get any tax assistance from my employer in 2009, but after preparing my 2009 income taxes and examining my 2009 year-end statement I felt like there were some lingering assignment expenses that I might be able to get some employer tax benefit for.

There were a couple things that caught my eye:

  • Tax preparation fees and moving expenses recorded in 2009 as taxable benefits and added to my w2
  • My 2008 state tax refund was assigned to my employer as part of the assignment, but listed as a taxable refund on a 1099-G in my name
  • My state tax refund that was assigned to my employer earned interest that was also paid to my employer, but listed as taxable interest on a 1099-INT in my name.

As a result I started make some inquiries about the potential to get some employer tax assistance for 2009 despite it not being offered to me as part of the assignment. It turns out the effort paid off as I was eventually given a hypothetical tax analysis and am now expecting an additional ~$700 from my employer. Turns out it was well worth the effort on my part and these days ~$700 is a significant chunk of free cash for us.

Related in Temporary Assignment:

Wrapped China Assignment, Round 2 (Jan 01, 2014) Hanoi, Vietnam We just wrapped up our temporary assignment in China and arrived back in the US before the end of the year. Its amazing how time flies, it seems like just a few days ago that we began...

Packing Tips for Extended Family Travel (Oct 14, 2013) My young family is on the move - we are currently living in China on a 6 month work assignment. With the exorbitant cost to ship additional stuff to China we were incented to only bring what we could fit...

Survival Guide to Traveling with Young Kids (Jul 28, 2013) We didn't have much experience traveling with our young kids prior to our current assignment in China. We did lots of reading in preparation, but we were unprepared for both how exhausting and rewarding it has been for us. Here...

Comments (2)


Way to go 2million! You THE MAN! Never hurts to ask and that's great cash. Where will you put it? In your baby's education account or other savings?

Your pal,
Steve

Seems like it'll work out nicely. I sometimes think doing business overseas isn't worth the paperwork hassle, no matter what the pay.

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A personal finance weblog of my journey to reach my goal of $2 million + the value of my primary residence.
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