Tuesday January 26, 2021
After working remotely for nearly a year in the wake of the COVID-19 pandemic, many employees are starting to think about their options for lifestyle changes now that they aren’t bound to living within a commutable distance from their office. For some, relocating could mean serious savings, especially for those currently living in densely populated or otherwise expensive cities and/or states. However, moving to a new state while working remotely isn’t as simple as quickly making the choice. Review considerations you may not have previously thought of before you decide to make the move.
Ask Your Employer
First, have a conversation with your employer before you contact a moving company. While remote work may be convenient for both parties, the admin at your job may not be keen on letting their employees scatter while the rest of the country waits out the pandemic from home, and for good reason. There are additional financial obligations for your job to consider, namely tax implications. Your employer will have to ensure that they withhold the proper amount from your paycheck, in addition to finding out whether they’ll have to pay taxes in your new home state (especially if the company currently doesn’t have any offices in that state).
If you know that your job is planning to return to an in-office work setting at some point, but you need to arrange a temporary move to help take care of at-risk friends or family members, have a conversation about the change with the appropriate authorities at your job and consider loading belongings that you can’t bring with you in a storage unit to help minimize the burden.
Consider Your Paycheck
If you haven’t thought about this yet, this should definitely be considered after chatting with your boss. Relocating could very well affect how much you’re paid, as the cost of labor is typically specific to certain regions. If you move to a less expensive place, you should expect to be paid less—but this could also depend on the competitiveness of your role and how it measures up on a national scale.
Changes to Your Benefits
Just as your paycheck may experience a few changes after moving to a new state, so can your benefits. For example, your health insurance is probably the biggest change in this regard. State and local laws regulate this benefit, and you may have to switch plans in the event that your current insurer doesn’t offer coverage in your new state. Additionally, after those changes to your paycheck mentioned earlier, there could be a shift in matching contributions to your 401(k), depending on how your earnings are affected.
If your job approves permanent remote work for employees, they’ll likely be more than okay with you moving to another state! If you’re ready to take advantage of this new opportunity and are interested in a long-distance move away from New Orleans, get a free quote from Lee Moving & Storage, Inc. today.