Fdx Hkg/cdg Cola
06-22-2007 | 03:43 PM
#71
Gets Weekends Off
Joined: Aug 2006
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From: FedEx Capt
What motive would the company have to not call this payment a COLA?
Wouldn't it be tax free if it was a COLA? You would think that the company would want the money to go as far as it can towards making someone's QOL at an FDA less of a burden. If they don't call it a COLA, do they get to write it off differently? Does it come out of a different pot of money?
I realize that the union doesn't want it to be a COLA, because they won't get their piece of the pie. I also realize that if it is a COLA then it is not pensionable, but I would think that tax free would be the way to go for everyone (except ALPA).
Someone please enlighten me.
Wouldn't it be tax free if it was a COLA? You would think that the company would want the money to go as far as it can towards making someone's QOL at an FDA less of a burden. If they don't call it a COLA, do they get to write it off differently? Does it come out of a different pot of money?
I realize that the union doesn't want it to be a COLA, because they won't get their piece of the pie. I also realize that if it is a COLA then it is not pensionable, but I would think that tax free would be the way to go for everyone (except ALPA).
Someone please enlighten me.
I think you conspiracy theorists need to wait until the LOA actually comes out before you completely bash the union.
06-22-2007 | 06:06 PM
#72
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Joined: Nov 2006
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From: 767 FO
When living in a foreign country, only a portion of your income is taxable to the US Government (on the order of $100,000). I don't think any foreign country is going to care if it's a COLA or whatever--it's all income to them!!!
I think you conspiracy theorists need to wait until the LOA actually comes out before you completely bash the union.
I think you conspiracy theorists need to wait until the LOA actually comes out before you completely bash the union.
Once the LOA is signed it wont be changed. Get your gripes in now and maybe the union will provide or receive a little education before it is to late.
06-22-2007 | 07:50 PM
#73
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Joined: Aug 2005
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From: Retired
When living in a foreign country, only a portion of your income is taxable to the US Government (on the order of $100,000). I don't think any foreign country is going to care if it's a COLA or whatever--it's all income to them!!!
I think you conspiracy theorists need to wait until the LOA actually comes out before you completely bash the union.
I think you conspiracy theorists need to wait until the LOA actually comes out before you completely bash the union.
06-22-2007 | 08:45 PM
#74
Gets Weekends Off
Joined: Aug 2006
Posts: 4,184
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From: leaning to the left
AMERICAN SCHOOL OF PARIS
Tuition(2007-2008):
K thru 5th grade - - - 19,600 Euros/YR (Approx $26,400 USD)
6th to 13th grade - - - 22,070 Euros/YR (Approx $29,700 USD)
http://www.asparis.net/admissions/TUITION0708.pdf
More good info here:
http://france.usembassy.gov/consul/a...de/default.htm
Tuition(2007-2008):
K thru 5th grade - - - 19,600 Euros/YR (Approx $26,400 USD)
6th to 13th grade - - - 22,070 Euros/YR (Approx $29,700 USD)
http://www.asparis.net/admissions/TUITION0708.pdf
More good info here:
http://france.usembassy.gov/consul/a...de/default.htm
06-22-2007 | 08:55 PM
#75
...Whatever It Is!
Joined: Jul 2006
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You have to be in that foreign country for 330 days of the year to claim that exemption
06-23-2007 | 12:28 AM
#76
Ok, No more sleeping Dog
Joined: Feb 2007
Posts: 889
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From: MD-11, F/O
Lets see........that "small" exempted amount of 80K puts approx. $21,600 back in your pocket instead of paying it in tax to Uncle Sam. Couple that with the $4500/mo COLA we are hearing about...4500 x 12 = $54,000, $54,000 + $21,600 = $75,600. Hmmmm......might defray "some" of the costs of living in HKG/CDG.
06-23-2007 | 01:14 AM
#77
Line Holder
Joined: May 2007
Posts: 852
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From: let it snow, let it snow, let it snow
Lets see........that "small" exempted amount of 80K puts approx. $21,600 back in your pocket instead of paying it in tax to Uncle Sam. Couple that with the $4500/mo COLA we are hearing about...4500 x 12 = $54,000, $54,000 + $21,600 = $75,600. Hmmmm......might defray "some" of the costs of living in HKG/CDG.
06-23-2007 | 06:02 AM
#78
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Joined: Jun 2006
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Lets see........that "small" exempted amount of 80K puts approx. $21,600 back in your pocket instead of paying it in tax to Uncle Sam. Couple that with the $4500/mo COLA we are hearing about...4500 x 12 = $54,000, $54,000 + $21,600 = $75,600. Hmmmm......might defray "some" of the costs of living in HKG/CDG.
And where'd ya hear that $4500/month figure?
06-23-2007 | 06:03 AM
#79
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Joined: Nov 2006
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From: 767 FO
Lets see........that "small" exempted amount of 80K puts approx. $21,600 back in your pocket instead of paying it in tax to Uncle Sam. Couple that with the $4500/mo COLA we are hearing about...4500 x 12 = $54,000, $54,000 + $21,600 = $75,600. Hmmmm......might defray "some" of the costs of living in HKG/CDG.
06-23-2007 | 06:47 AM
#80
...Whatever It Is!
Joined: Jul 2006
Posts: 4,680
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Lets see........that "small" exempted amount of 80K puts approx. $21,600 back in your pocket instead of paying it in tax to Uncle Sam. Couple that with the $4500/mo COLA we are hearing about...4500 x 12 = $54,000, $54,000 + $21,600 = $75,600. Hmmmm......might defray "some" of the costs of living in HKG/CDG.
Actually, I believe the way it works is that from 0-80K you pay taxes just to the foreign gubmint, from 80K+ you pay to both. The US gubmint allows the expemption to offset what you pay to that foreign gubmint. The point of FedEx using Price Waterhouse would be to compute a "gross up" paid directly to the foreign gubmint to offset the amount after 80K (or offset all if you're not eligible for the exemption). The reason that SFS is such a sweet deal is that the Philipine gubmint does not tax those living in the free port zone, hence the windfall for some of the SFS guys. This is the way I understand it, someone correct me if i'm wrong.
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