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Chief
Completely dependent on the agreement you signed. Read it and find out. Might want to consider asking your new company to cover it.
Thank you! If it doesn’t explicitly say what payback method is (other than that I owe the full amount) is there a typical model companies follow in your experience?
Most likely they’ll take it out of your final check and anything else remaining will be paid be you out of pocket, adj for taxes.
I was told my HR that it is not legal to withhold this type of thing from a paycheck.
Ask new opportunity to cover the cost, they will if they want you!
Any guidance on how to ask the new company to cover? Trying to find example of language to use / process to set up but not finding much.
Rising Star
Tax question on this, if payment was $20k last year then that was included on your w-2 and you paid tax on it. Do you have to repay the full $20k or $20k net of taxes? If it’s the full $20k, is there a deduction you can take on your current year 1040 so you’re not out the taxes you paid the prior year?
So if I ask new employer to cover the expense should I ask for 20k + what I paid in taxes last year to make up for taxes I’ve already paid?