UK - Bozeman Montana - Have I missed anything????
#1
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UK - Bozeman Montana - Have I missed anything????
So here goes - I have been offered a job in Bozeman Montana with the company I currently work for in the UK. I have had all the details through and studied them until my head hurts.
I just want to know really from those that have done this kind of move if I have missed anything or there is anything else I need to consider.
Brief outline - comments or help much appreciated.
Income - in the UK £45,000 - US $70,000
Housing - We will rent our property in the UK which withe the rent will more than cover the mortgag leaving £100 per month to build up for any repairs or maintenance. If not used will help with anything should we eventually return.
US side we intend to rent a property - similar situation to our UK house will cost approximately $1500 per month in rent.
Visa - We intend to travel on an L1B visa with my wife and daughter on a L2 dependant visa - this will allow my wife to work.
Income tax on my earnings I am using 20% as a figure to average my income tax.
Medical insurance - the company offer a good medical insurance and the very top package is $500 dollars a month to cover the 3 of us.
Cars - we intend to sell our cars and then purchase new ones in the US.
Relocation of possessions etc is covered by my re location package.
I'm sure I have probably missed something but that is the overview of our situation. The company are currently awaiting my decision.
I just want to know really from those that have done this kind of move if I have missed anything or there is anything else I need to consider.
Brief outline - comments or help much appreciated.
Income - in the UK £45,000 - US $70,000
Housing - We will rent our property in the UK which withe the rent will more than cover the mortgag leaving £100 per month to build up for any repairs or maintenance. If not used will help with anything should we eventually return.
US side we intend to rent a property - similar situation to our UK house will cost approximately $1500 per month in rent.
Visa - We intend to travel on an L1B visa with my wife and daughter on a L2 dependant visa - this will allow my wife to work.
Income tax on my earnings I am using 20% as a figure to average my income tax.
Medical insurance - the company offer a good medical insurance and the very top package is $500 dollars a month to cover the 3 of us.
Cars - we intend to sell our cars and then purchase new ones in the US.
Relocation of possessions etc is covered by my re location package.
I'm sure I have probably missed something but that is the overview of our situation. The company are currently awaiting my decision.
#2
Re: UK - Bozeman Montana - Have I missed anything????
Do you have any ISAs or UK based pension funds?
Will you continue to pay into your UK company pension fund and keep paying National Insurance or will you be paying FICA and if so have you applied to pay voluntary National Insurance?
Will you continue to pay into your UK company pension fund and keep paying National Insurance or will you be paying FICA and if so have you applied to pay voluntary National Insurance?
Last edited by nun; Feb 26th 2017 at 2:18 pm.
#3
Re: UK - Bozeman Montana - Have I missed anything????
Just a few comments on this:
Utilities is probably more expensive to have. Couple that with running a HVAC system and it can run up bills.
As for take home pay, aim for 65% after all the taxes and other deductions.
Make sure you get PTO from England transferred to the USA.
Utilities is probably more expensive to have. Couple that with running a HVAC system and it can run up bills.
As for take home pay, aim for 65% after all the taxes and other deductions.
Make sure you get PTO from England transferred to the USA.
#4
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Re: UK - Bozeman Montana - Have I missed anything????
I wouldn't pay anymore into the pension fund as I will have a new one in the US, i will also be paying FICA but haven't got to the point of apply to pay VNI
#5
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Re: UK - Bozeman Montana - Have I missed anything????
Just a few comments on this:
Utilities is probably more expensive to have. Couple that with running a HVAC system and it can run up bills.
As for take home pay, aim for 65% after all the taxes and other deductions.
Make sure you get PTO from England transferred to the USA.
Utilities is probably more expensive to have. Couple that with running a HVAC system and it can run up bills.
As for take home pay, aim for 65% after all the taxes and other deductions.
Make sure you get PTO from England transferred to the USA.
What is PTO?? are you refering to holidays?
#6
Re: UK - Bozeman Montana - Have I missed anything????
The last free are optional of course. There may be other things that you could contribute to too.
Yeah PTO is paid time off. This may also cover sick days, compassionate leave etc. and not just happy holidays.
#7
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Re: UK - Bozeman Montana - Have I missed anything????
Federal income tax, state income tax, medicare, social security, perhaps a local tax, 401k, HSA, medical insurance.
The last free are optional of course. There may be other things that you could contribute to too.
Yeah PTO is paid time off. This may also cover sick days, compassionate leave etc. and not just happy holidays.
The last free are optional of course. There may be other things that you could contribute to too.
Yeah PTO is paid time off. This may also cover sick days, compassionate leave etc. and not just happy holidays.
Are you based in the US?
#8
Re: UK - Bozeman Montana - Have I missed anything????
I'm over here in NC.
#9
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Re: UK - Bozeman Montana - Have I missed anything????
Ah right OK, did you move from the Uk to the US then? We are so undecided as what to do at this point we have been given all of the information so they are now waiting on our decisions as to whether we go or not. There is so much to take in though especially with the medical insurance and 401K
#10
Re: UK - Bozeman Montana - Have I missed anything????
Ah right OK, did you move from the Uk to the US then? We are so undecided as what to do at this point we have been given all of the information so they are now waiting on our decisions as to whether we go or not. There is so much to take in though especially with the medical insurance and 401K
You touched on having 3 members of the family? Assuming that's a kid have you thought about the impact of them changing school?
The medical insurance, retirement and taxes pose a learning curve, but it's definitely something that you'll figure out. Most of the questions are already asked on Google so it doesn't take long to figure things out as you go along. I wouldn't let that be a blocker to moving.
#11
Re: UK - Bozeman Montana - Have I missed anything????
Tom's advice is good.
I suspect that on $70k your deductions will be closer to 30% than 35%. If your wife works then the percentage will go up to around 35%. ..... What does she do? Is her experience easily transferable to the US job market, or will she require training and licensing?
(ETA: I see this isn't applicable to your daughter) How old is your child? Have you considered the cost of after-school care, sports programs, and the cost of "summer camp" for times when school is not in session? Remember US school holidays are three months long in the summer.
Despite what you might think, $70k isn't generous for the US. It's doable, but you might find won't go as far as you think. Budget around $250/person/mth for food and household consumables, and about the same as you're paying in the UK for petrol - yes gas is cheap, but you will drive a LOT further than you're used to, 10 miles (one way) for groceries, 20 miles for lunch, and 40 miles for dinner could easily become normal for you.
Don't underestimate car costs, and don't under-buy. Outside of the largest cities (NY, SF, LA) many people drive SUVs that are bigger than almost anything you'll see on the roads in the UK, and pickups that are even bigger! (I drive a 2wd Ford F250, which is 21'6" long and from the driving seat I can see forwards over the top of a Range Rover - if my truck was a 4x4, it would be 2-3" higher, and the suspension isn't modified, it is exactly as it came from the factory) just because you're comfortable driving a Honda Jazz or a Fiat 500 in the UK, don't expect it to be the same in the US.
When you arrive you will have no credit history, which causes a number of problems, such as large deposits for utilities, and complications in getting finance for vehicles. ..... So take a look at International Autosource, they will finance based on your UK credit history and a job offer in the US, but you must sign up and pay a deposit before you leave the UK. I used them myself, and they are totally legit - their bread and butter business is selling cars to US military personnel.
I suspect that on $70k your deductions will be closer to 30% than 35%. If your wife works then the percentage will go up to around 35%. ..... What does she do? Is her experience easily transferable to the US job market, or will she require training and licensing?
(ETA: I see this isn't applicable to your daughter) How old is your child? Have you considered the cost of after-school care, sports programs, and the cost of "summer camp" for times when school is not in session? Remember US school holidays are three months long in the summer.
Despite what you might think, $70k isn't generous for the US. It's doable, but you might find won't go as far as you think. Budget around $250/person/mth for food and household consumables, and about the same as you're paying in the UK for petrol - yes gas is cheap, but you will drive a LOT further than you're used to, 10 miles (one way) for groceries, 20 miles for lunch, and 40 miles for dinner could easily become normal for you.
Don't underestimate car costs, and don't under-buy. Outside of the largest cities (NY, SF, LA) many people drive SUVs that are bigger than almost anything you'll see on the roads in the UK, and pickups that are even bigger! (I drive a 2wd Ford F250, which is 21'6" long and from the driving seat I can see forwards over the top of a Range Rover - if my truck was a 4x4, it would be 2-3" higher, and the suspension isn't modified, it is exactly as it came from the factory) just because you're comfortable driving a Honda Jazz or a Fiat 500 in the UK, don't expect it to be the same in the US.
When you arrive you will have no credit history, which causes a number of problems, such as large deposits for utilities, and complications in getting finance for vehicles. ..... So take a look at International Autosource, they will finance based on your UK credit history and a job offer in the US, but you must sign up and pay a deposit before you leave the UK. I used them myself, and they are totally legit - their bread and butter business is selling cars to US military personnel.
Last edited by Pulaski; Feb 26th 2017 at 3:15 pm.
#12
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Re: UK - Bozeman Montana - Have I missed anything????
I did move from the UK (Yorkshire) here. My wife is a US citizen so it wasn't via employment.
You touched on having 3 members of the family? Assuming that's a kid have you thought about the impact of them changing school?
The medical insurance, retirement and taxes pose a learning curve, but it's definitely something that you'll figure out. Most of the questions are already asked on Google so it doesn't take long to figure things out as you go along. I wouldn't let that be a blocker to moving.
You touched on having 3 members of the family? Assuming that's a kid have you thought about the impact of them changing school?
The medical insurance, retirement and taxes pose a learning curve, but it's definitely something that you'll figure out. Most of the questions are already asked on Google so it doesn't take long to figure things out as you go along. I wouldn't let that be a blocker to moving.
The other stuff i'm sure I will pick up as you say there is always google at hand lol.
#13
Re: UK - Bozeman Montana - Have I missed anything????
Unless you all have green cards (or at the very least have applied for them) before her 21st birthday she will have no right to continue to live in the US. If the company has applied for them prior to her 21st birthday, she will not age out as her age at the time of filing will remain frozen. Have you thought about this?
#14
Re: UK - Bozeman Montana - Have I missed anything????
Don't underestimate car costs, and don't under-buy. Outside of the largest cities many people drive SUVs that are bigger than almost anything you'll see on the roads in the UK, and pickups that are even bigger (I drive a 2wd Ford F250, which is 21'6" long and from the driving seat I can see forwards over the top of a Range Rover - if it was a 4x4, it would be 2-3" higher, and the suspension isn't modified, it is exactly as it came from the factory) just because you're comfortable driving a Honda Jazz or a Fiat 500 in the UK, don't expect it to be the same in the US.
Insurance can be expensive here. We have 2 normal cars... A full size sedan and a mid size and insurance is about $2100 per year for me and my wife.
Last edited by tom169; Feb 26th 2017 at 3:14 pm. Reason: Dupe info
#15
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Re: UK - Bozeman Montana - Have I missed anything????
Tom's advice is good.
I suspect that on $70k your deductions will be closer to 30% than 35%.
Despite what yoi might think, $70k isn't generous for the US. It's doable, but you might find won't go as far as you think.
Don't underestimate car costs, and don't under-buy. Outside of the largest cities many people drive SUVs that are bigger than almost anything you'll see on the roads in the UK, and pickups that are even bigger (I drive a 2wd Ford F250, which is 21'6" long and from the driving seat I can see forwards over the top of a Range Rover - if it was a 4x4, it would be 2-3" higher, and the suspension isn't modified, it is exactly as it came from the factory) just because you're comfortable driving a Honda Jazz or a Fiat 500 in the UK, don't expect it to be the same in the US.
When you arrive you will have no credit history, which causes a number of problems, such as large deposits for utilities, and complications in getting finance for vehicles. ..... So take a look at International Autosource, they will finance based on your UK credit history and a job offer in the US, but you must sign up and pay a deposit before you leave the UK. I used them myself, and they are totally legit - their bread and butter business is selling cars to US military personnel.
I suspect that on $70k your deductions will be closer to 30% than 35%.
Despite what yoi might think, $70k isn't generous for the US. It's doable, but you might find won't go as far as you think.
Don't underestimate car costs, and don't under-buy. Outside of the largest cities many people drive SUVs that are bigger than almost anything you'll see on the roads in the UK, and pickups that are even bigger (I drive a 2wd Ford F250, which is 21'6" long and from the driving seat I can see forwards over the top of a Range Rover - if it was a 4x4, it would be 2-3" higher, and the suspension isn't modified, it is exactly as it came from the factory) just because you're comfortable driving a Honda Jazz or a Fiat 500 in the UK, don't expect it to be the same in the US.
When you arrive you will have no credit history, which causes a number of problems, such as large deposits for utilities, and complications in getting finance for vehicles. ..... So take a look at International Autosource, they will finance based on your UK credit history and a job offer in the US, but you must sign up and pay a deposit before you leave the UK. I used them myself, and they are totally legit - their bread and butter business is selling cars to US military personnel.