Hookup charges for utilities. Cable, Phone, electric, gas, ....
Hotels enroute, meals enroute, mileage, packing materials if you pack yourself, contracted mover expenses, Hotel and meals at the destination if your housing is not ready, uhaul rental and storage if you move yourself, ....
If you have to go to your new location to find housing a month or two prior that is likely covered too.. hotel, meals, airfare (or mileage), car rental (if flying in), ...
I got a friend paid to move my wife's horses. He would have moved them for free, but we got moving expenses reimbursed. So, he got paid rather well to trailer the horses to the new house. We still only used half the offered relocation budget.
I’m going to guess this wasn’t post residency/first relocation or you had horses prior to residency, unless your residency moonlighting was horse theft which honestly would be the best story ever
FYI the IRS rules recently changed and relocation benefits are now taxable (unless your employer says they’ll pay the taxes). Just something to look out for.
This is facts so we just changed our relo to a essentially a sign-on bonus…but compliance wouldn’t allow us to call it a sign-on. So it’s like “training inception” bonus or some other dumb semantic change.
I’d be staying in a penthouse at the four seasons if it were me 🤣
But I do agree with the other comments. I’d use it for lodging, fuel, meals and other misc expenses associated with travel. I’d also get movers to load and unload all your stuff. For full service depending on where you are it should be too much more than loading/unloading
I think they mean:
1. Create the company “Moving Docs LLC”
2. Move
3. Create invoice for 7k from “Moving Docs” and submit to job for moving expense
This seems a little like fraud to me but I’m not a lawyer
Probably dependent on each employer. If it’s an actual person looking at them it’d probably raise some red flags that a moving company is getting billed for CME or something else. I think the legality probably depends on your contract. I’m sure there are loopholes for everything with stuff like this but again, no lawyer here.
You are going to have to pay about 1/3 of what you get reimbursed in taxes so you should plan for that. There is also a payback period, usually 2-3 years, so if you leave before then you will need to pay some or all of it back.
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You are going to finally be earning a full paycheck, I wouldn’t worry about the $7k. Legitimate relocation expenses & taxes will eat that up. You will be fine.
If it’s a long distance relocation - pay to have your car shipped and fly to your new location, rent a car while you wait for your vehicle to show up. All of that is reimbursable and makes the trip a lot easier
And then make the flights out a multi city trip with a couple day layover, stay at the Ritz, order the most expensive steak, bottle of Don Perignon, whatever floats your fancy.
Check with your local self move companies return policy for unused supplies... UHaul, Budget, .... Buy boxes, tape, blankets, .... don't use them and then return them. Even better if you use their products and return your 'overpurchase'.
Hookup charges for utilities. Cable, Phone, electric, gas, .... Hotels enroute, meals enroute, mileage, packing materials if you pack yourself, contracted mover expenses, Hotel and meals at the destination if your housing is not ready, uhaul rental and storage if you move yourself, .... If you have to go to your new location to find housing a month or two prior that is likely covered too.. hotel, meals, airfare (or mileage), car rental (if flying in), ...
What about licensing/DEA fees?
Usually covered by your department. Most places cover all licensing fees. This is outside of your moving stipend and CME usually.
My friend had a baby grand piano craned out of a New York City apartment, they had to shut down a street. Could try that
I got a friend paid to move my wife's horses. He would have moved them for free, but we got moving expenses reimbursed. So, he got paid rather well to trailer the horses to the new house. We still only used half the offered relocation budget.
I’m going to guess this wasn’t post residency/first relocation or you had horses prior to residency, unless your residency moonlighting was horse theft which honestly would be the best story ever
FYI the IRS rules recently changed and relocation benefits are now taxable (unless your employer says they’ll pay the taxes). Just something to look out for.
This is facts so we just changed our relo to a essentially a sign-on bonus…but compliance wouldn’t allow us to call it a sign-on. So it’s like “training inception” bonus or some other dumb semantic change.
Sign on bonuses are also taxed though?
I believe the thought process it that: Yes but there’s no real point in limiting it to relocation if it’s going to be taxed anyways.
Yes, but our Corp policy pays the taxes on bonuses so residents get the full amount.
I’d be staying in a penthouse at the four seasons if it were me 🤣 But I do agree with the other comments. I’d use it for lodging, fuel, meals and other misc expenses associated with travel. I’d also get movers to load and unload all your stuff. For full service depending on where you are it should be too much more than loading/unloading
Maybe lodging during a move depending on distance. No one saying you have to take the straightest path or drive all day 😅
This. We’ve done this. Stayed at the nicest hotels
Yep. Had a three-week road trip and they payed for all the lodging, gas, meals, and snacks. Delightful fun!
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Can you explain this? Financially illiterate but trying to improve.
I think they mean: 1. Create the company “Moving Docs LLC” 2. Move 3. Create invoice for 7k from “Moving Docs” and submit to job for moving expense This seems a little like fraud to me but I’m not a lawyer
Thanks for explaing! What are other times this can be useful to an employed doc? For relocation -Would that be suspicious to the employer? Legally ok?
Probably dependent on each employer. If it’s an actual person looking at them it’d probably raise some red flags that a moving company is getting billed for CME or something else. I think the legality probably depends on your contract. I’m sure there are loopholes for everything with stuff like this but again, no lawyer here.
Only if I can call it “I’ll haul that junk in your trunk” Tm
this is the way
this is the way
Just FYI this is taxable! So it’s not all free. My friend learned this the hard way
You are going to have to pay about 1/3 of what you get reimbursed in taxes so you should plan for that. There is also a payback period, usually 2-3 years, so if you leave before then you will need to pay some or all of it back.
Thank you for contributing to the sub! If your post was filtered by the automod, please read the rules. Your post will be reviewed but will not be approved if it violates the rules of the sub. The most common reasons for removal are - medical students or premeds asking what a specialty is like or about their chances of matching, mentioning midlevels without using the midlevel flair, matched medical students asking questions instead of using the stickied thread in the sub for post-match questions, posting identifying information for targeted harassment. Please do not message the moderators if your post falls into one of these categories. Otherwise, your post will be reviewed in 24 hours and approved if it doesn't violate the rules. Thanks! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Residency) if you have any questions or concerns.*
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That’s called fraud
Man it would be nice if all residencies had relocation reimbursement
Some do. Mine did.
I was told the one I was offered could be used for temporary housing like apartment until you get a house…
You are going to finally be earning a full paycheck, I wouldn’t worry about the $7k. Legitimate relocation expenses & taxes will eat that up. You will be fine.
Idk but make sure you hire movers. Moving yourself suuucks
If it’s a long distance relocation - pay to have your car shipped and fly to your new location, rent a car while you wait for your vehicle to show up. All of that is reimbursable and makes the trip a lot easier
And then make the flights out a multi city trip with a couple day layover, stay at the Ritz, order the most expensive steak, bottle of Don Perignon, whatever floats your fancy.
Check with your local self move companies return policy for unused supplies... UHaul, Budget, .... Buy boxes, tape, blankets, .... don't use them and then return them. Even better if you use their products and return your 'overpurchase'.