Getting a CPA to do our taxes this year
Personal finance
One of the unusual perks offered by my husband’s employer is that they will pay for a CPA to do our taxes the first year. Their reasoning? His employer paid for our relocation to the Bay Area, but rather than give us a lump sum to cover the expenses or cash reimbursement, the company’s policy is to pay for all relocation expenses and then “gross up” the total to cover any taxes, which is then included in the W-2 form. In case the relocation amount is determined to be insufficient to cover the taxes on it, the company will actually make an adjustment and gross up the relocation amount even further to cover any remaining taxes.
This is the first time I’ve ever heard of a company offering a benefit like this to its employees. Granted, it’s only offered the first year, but they’ve scheduled CPAs from two local firms (one from Ernst & Young) to come to to campus every day for two weeks so that we can set up an appointment conveniently. Alternatively, the company will reimburse us up to $500 if we decide to use our own CPA. The only potential risk is that they can’t guarantee our taxes will be filed in time, so there’s always a possibility that we’ll have to file for an extension.