Hello, I am planning to leave my employer (issues not related to financials, but scope of work, how I feel I am treated at work, long term career progress etc.)
When I joined I took a sign on cash bonus of, say $100
If I leave I have to payback the amount as per employment contract.
I obviously got only about say $60 of that $100 (california tax and federal tax = $40)
If I come up with the cash (can be through another sign on bonus from next employer), I will pay my current employer $100
How can I claim the $40 that I paid in tax ?
What is the process ? Is it considered a loss ? or something else ?
Are there any limits ?
Thanks
