March 24, 2019, 12:48:14 PM


Author Topic: Free housing or the housing allowance?  (Read 781 times)

Offline michs

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Free housing or the housing allowance?
« on: February 07, 2014, 01:55:28 PM »
Anyone know about the tax consequences as the 400k housing allowance is taxed as income.

Specifics: I'm moving apartments and have to pay key money regardless. The apt is only 380,000, so if I take the allowance, 20k extra in my pocket a month.

Offline Menlyn

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Re: Free housing or the housing allowance?
« Reply #1 on: February 07, 2014, 01:57:34 PM »
The housing allowance is supposed to be taxed, and it's supposed to be added to your severance.

In practice, this doesn't always happen and anything goes.

Offline taeyang

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Re: Free housing or the housing allowance?
« Reply #2 on: February 07, 2014, 01:59:42 PM »
it's taxed either way. it's still counted as income.
use google to search the site

site:waygook.org XXXX

replace 'XXXX' with your search term

Offline forevertraveling

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Re: Free housing or the housing allowance?
« Reply #3 on: February 07, 2014, 02:00:34 PM »
The housing allowance is supposed to be taxed, and it's supposed to be added to your severance.

In practice, this doesn't always happen and anything goes.

I work for a public school, which does everything legally. My housing is definitely not added into my severance. Where did you get that information?