FedEx New Hire... Buy Apt or Hotel/Pad ?
 

Hey! New hire here trying to figure out a living situation in Memphis. I live in Denver and gonna have to commute but I have heard that is a tough one. I don't know Memphis at all so I was hoping I could get some help on the advantages/disadvantages of buying an Apt vs just doing Hotel/Crash-pad? Does anyone use the Tax benefit of no income tax in TN by buying a second residence but still commuting when able ? Thanks ahead of time to anyone that can shed some light!

Sent you a message

Thank you!

I get it.
We're not supposed to know.
Gotcha....

There are legal and company pitfalls related to this particular line of discussion. In the past few years, Fedex has occasionally required us to "report" (i.e. certify via official company methods) our tax home.

That issue aside, unless you plan to legally move your residence to TN (or roll the dice using some other plan), buying property in lieu of a crash pad or hotel isn't going to be financially advantageous. If you plan to operate a crash pad, that can have some benefits.

Crashpad or buying something, the DEN commute is tough and what you do on the MEM side for a roof over your head isn't going to change that. The good news is, as fast as thing are moving here, it's unlikely you would need a crash pad for the long term. So unless you have other reasons to buy property, that level of commitment probably won't be necessary.

Very interesting...My line of thinking was basically having duel residence and using the tax benefits. Obviously I don't want to run afoul of any legal or company rules. Most of my time I imagine would be in MEM since I don't have any rug-rats to worry about but not ready to sell my place in DEN either. Also am I correct that they do not provide hotel during indoc or training ? Thanks Adlerdrive

Correct. No hotel for indoc or training. Once you're on the property, they put you up for recurrent or if you're transitioning to another aircraft and you're not based in MEM (ANC recurrent excepted since they have their own sim there).
Not having kids (i.e. enrolled in DEN area schools, etc) and no ties to CO other than owning property can work in your favor. I don't claim to be an expert. I'm sure there are guys on here who are. The simplest legal solution would be to move to TN, buy an apartment, register to vote, etc. and call that home. Your CO residence would now be your 2nd home (vacation home). Fedex perked up a few years back (Lawyers run the show, pretty much) and decided to cover their asses. They didn't want to be party to shady claims of residence by guys looking to take advantage of no income tax in TN while they and their family really lived elsewhere.

Having residences fighting each other can only lead to bad things.


;)






.

No, I just don't feel like disclosing personal experiences as a Crashpad owner on the open forum.

I'm married, and I would never ever tell the company that my legal address was anything other than where my spouse lives.

Got some data points on this in the Hong Kong domicile a few years back.