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Navigating a Business Relocation Package

Utah was dubbed Silicon Slopes for good reason. Many of the top tech companies in the U.S. are located between Provo in Utah County and Salt Lake City with the majority located in Lehi, Utah. As a result, many of these businesses often offer new employees from out of state relocation packages.

If you find yourself looking to move to Utah for a new job no matter the industry, it’s important to understand how your potential new employer plans to assist with your relocation. 

What is a relocation package?

Many times when a company hires an employee living further away than 50+ miles, they’ll offer a relocation package as part of their job offer. You are more likely to receive a relocation package if you live in another state, so if your new employer is asking you to move from New York to Utah, you can expect a relocation package as part of your job offer.  The goal is to ease the financial burden of moving and to allow the new employee to start work as soon as possible. The extent of the package often changes depending on your industry, but is designed to give you peace of mind during the transition.

What is included in a standard relocation package when moving to Utah?

If you are offered a relocation package, be sure to ask your future employer plenty of questions. You may want to ask about the city where the company is located and best places to live in Utah County or Salt Lake County depending on where the business is located. 

While there are some common services and assistance provided in most packages, it’s wise to understand the details so you aren’t caught off guard with an unexpected expense. Some of the features may include:

Packing and/or unpacking services – Most packages include packing and unpacking services. It’s one of the most stressful parts of moving and it is in everyone’s best interest to make it as easy as possible. A good service will pack your home as well as help you unpack once you arrive at your destination. 

Quality moving service – Not all moving companies provide the same quality of service. It’s best to do some research and make certain that the company assisting you with your move provides reasonable insurance in case any of your possessions are lost or damaged as part of the move. It’s also a good idea to check out their reputation and reviews online. 

A minimum of one house hunting trip – Moving to a new city you are unfamiliar with requires time and energy to explore the area before you make the big decision about where you want to buy a home. If you’ve never been to Lehi or explored the Wasatch Front, you will likely want to do a little exploring before settling on a place to live. 

Many relocation packages allow for a minimum of one paid house hunting trip. The expenses covered typically include transportation costs, lodging, and meals. In some cases it may also cover childcare if you need to take your children with you as part of your house hunting process. 

Home sale assistance or lease-breaking penalty assistance – Another common way a relocation package is often beneficial is to provide assistance with selling your home or, in the case of a lease, help with the expenses associated with breaking the lease. Ask your new employer if the package includes reimbursement if you lose money on a quick home sale or provide professional marketing services to hopefully help you sell quickly. 

Temporary housing – Sometimes the timing is off between moving, starting a new job, and finalizing the purchase of your new home. Many relocation packages include a minimum of 30 days of temporary housing for new transfers allowing you to start work sooner. 

Transportation to your new city – The average package also includes transportation costs to your new city and includes reimbursement for moving your vehicles as well. It depends on the distance you are traveling and whether or not you can make the move by car. 

Miscellaneous expenses: – There’s no question that moving is a time consuming and expensive process. Miscellaneous expenses can add up so be sure to ask if those “extras” are part of your package. They might include utility hook-up fees, driver’s license fees, cleaning services, and any other moving expenses. 

Are there tax implications?

It depends on how your future employer handles your relocation. If your new company pays the moving company directly, you don’t need to worry about taxes. However, if your new employer pays you a lump sum and expects you to take care of the details, it is considered fully taxable earnings and will need to be reported on your tax return. 

Utah is a beautiful state with plenty to offer. There are plenty of amazing neighborhoods and cities for you to consider if you are thinking of accepting a new job in this beautiful state. Residents love living anywhere from Utah County to Salt Lake County and everywhere in between. 

Our best advice is to ask questions about your relocation package. Your new employer will be happy to help you and make sure the transition is a smooth one. 

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