Hi, all!
I work for a company based in New York State that pays me to live in California. In addition to my salary, the company pays for my apartment. This value is $3,000 per month. This has never shown up on my W-2 for 2016 or 2017, and there has not been a tax implication for me. Obviously, this was part of my negotiation in determining salary.
I have been informed today that in 2018, this must be reported as income and is not deductible in 2018. So I have a couple of questions:
- Can anyone confirm whether this is accurate? Or if there is a way for the company to classify this expense as something other than direct income?
- Does anyone have any advice for discussion / negotiation with my employer? I work for a (relatively) small company, and have relationships with each executive. It feels irresponsible that I would be notified of this in August, but I also accept that perhaps I should have been aware of this change regardless.
Thanks!
EDIT: Thank you all for the great responses. I appreciate that many of you have taken the time to point out that I am responsible for my own taxes. I certainly understand this. Just looking for some perspective as I look to have conversations with my employer.
Submitted August 08, 2018 at 09:52AM by greggerrrrrrs https://ift.tt/2OV9yey
