amanvohra[at]gmail.com wrote:

- quote -

In spite of the fact that there was no tax question posed,
there could have been. Anything that you have to repay,
which is included on your W-2 as wages, is deductible as an
an employee business expense, if repaid in a later year. If
over $3000, you have the option of recalculating your taxes
for the first year as if you never received the benefits,
and taking the difference as a credit for the year you repay
your employer. See "Claim of Right" in the instructions.

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Harlan Lunsford <hlunsford[at]bellsouth.net> wrote:
- quote -

IANAL, but I don't think that's quite right. You can't
agree to sell yourself into slavery, for instance. More
realistically, I don't think you can agree to loan terms
that are considered usury. And in the case of employment
contracts, I think there are some excessive anti-compete
clauses that might be prohibited.

But the terms that the OP mentioned don't sound like they're
likely to run afoul of any such laws. But the right thing
to do is consult a lawyer familiar with your state's laws to
be sure.

--
Barry Margolin, barmar[at]alum.mit.edu
Arlington, MA

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Harlan Lunsford wrote:

- quote -

That's ok, Harlan. Some of my best friends are you people,
too.

Stu
;-)

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amanvohra[at]gmail.com wrote:

- quote -

Your's is a legal question; not a tax question.

However any two people may agree on anything, and I see
nothing in your terms that remotely suggest illegality. The
company should, in writing up the contract, have put a
dollar value on the contigent liability. Of course I am NOT
a lawyer; thank Gawd!

(Sorry, Stu.)

ChEAr$,
Harlan Lunsford, EA n LA
Tue 25 Jan 2005

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amanvohra[at]gmail.com wrote:

- quote -

Not intending to sound insensitive but by "My employer has
made me ..." do you mean that they held a gun to your head?

I'm not an attorney and you probably should talk to one who
specializes in labor/employment law. However, my educated
guess is, yes, it is a legal, enforceable contract.

Good luck.

Regards,
Bill

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<amanvohra[at]gmail.com> wrote:

- quote -

This is a legal question, not a tax question.

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"Dick Adams" <rdadams[at]smart.net> wrote:
- quote -

:bows at the feet of the moderator:

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

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Dick Adams  wrote:
- quote -

Probably high on all that pain medication.

- quote -

There may be a loophole, such as if you leave involuntarily.
Aside from that you're on the hook unless you stay the two
years.

- quote -

And perhaps in addition need some medication.

Stu

================================================== =========
Moderator:
Six and a half months on 30-80mg of Percaset a day is a
real bummer. Some of the side-effects are real nasty.
You even post things you mean to delete or reject <g================================================ ===========

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amanvohra[at]gmail.com writes:

- quote -

Yes.

- quote -

What kind of help do you want? If you don't want to sign
the contract, don't take the job.

Don't you think asking about this *after* you've signed the
contract is a bit late?

What does this have to do with taxes? Perhaps you meant to
post this in one of the legal newsgroup, rather than in the
taxes newsgroup?

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amanvohra[at]gmail.com writes:
- quote -

This is a legal question and not a tax question. It appears
the moderator was asleep at the switch when this came thru.

It's most definitely legal. If you want to leave their
employment, you need to find an attorney who specializes in
employment law. If you leave and you pay, you will have a
tax question.

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I work for a company in Atlanta, GA. My employer has
made me sign a contract, which says, if I leave the
company before the end of my term i.e. two years, I am
liable for the expenses that the company has invested
on me. The expenses include, my training on training
courses, my relocation expense and my visa transfer
fee. Is this even legal? Can some one help me?

Thnxs

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