With the passage of the Tax Cuts and Jobs Act of 2017, there are key changes to the tax treatment of several common relocation benefits. Whether you are an employee moving domestically or globally or an employer who relocates employees, it is important to be aware of these changes as we head into tax season.
A new white paper from Bain & Company explores some dramatic changes that will affect talent management and the employee mobility function. A brief excerpt follows.
Demographics, automation and inequality have the potential to dramatically reshape our world in the 2020s and beyond. Our analysis shows that the collision of these forces could trigger economic disruption far greater than we have experienced over the past 60 years. The aim of this report by Bain’s Macro Trends Group is to detail how the impact of aging populations, the adoption of new automation technologies and rising inequality will likely combine to give rise to new business risks and opportunities. These gathering forces already pose challenges for businesses and investors. In the next decade, they will combine to create an economic climate of increasing extremes but may also trigger a decade-plus investment boom. Read More
Steve Townsend, CRP, GMS-T Awarded the Saul Gresky Award by the North Texas Relocation Professionals
– Recognizing relocation industry contributions –
MILWAUKEE, Wis. – February 8, 2018 – TRC Global Mobility, Inc. (TRC) is pleased to announce that Steve Townsend, CRP, GMS-T, Vice President, Business Development at TRC, was awarded the Saul Gresky Award by the North Texas Relocation Professionals (NTRP).
So where are Americans moving these days, and why are they moving there? United Van Lines’ recently released 41st Annual National Movers Study holds a few surprises. The study tracks United customers’ state-to-state migration patterns during the previous year.
According to the study, Americans are moving westward, flocking to the Mountain and Pacific West, while the Northeast and Midwest continue to lose residents. In 2017, more residents moved out of Illinois than any other state with 63 percent of moves being outbound. Surprisingly, Vermont had the highest percentage of inbound migration in 2017 with nearly 68 percent of moves to and from the state being inbound Read More
Worldwide ERC sent the following request to its members on November 15, 2017 asking for support in preserving the moving expense deduction.
Dear Worldwide ERC® Members,
Your industry needs your help. Please write your members of Congress today in support of preserving the moving expense deduction. As previously reported by Worldwide ERC®, the current Senate and House versions of the “Tax Cuts and Jobs Act” would eliminate numerous tax deductions and exclusions including the moving expense deduction. It is critical that your members of Congress hear from you, requesting that they help restore this tool vital to workforce mobility.
By Melissa Seitz Medford, Consulting Service Manager, TRC Global Mobility
Recently I had the privilege to attend the 14th annual Pennsylvania Conference for Women in Philadelphia. The Conference is self-defined as, “A non-profit, non-partisan, one-day professional and personal development event for women that features dozens of renowned speakers sharing inspirational stories and leading seminars on the issues that matter most to women.” The approximately 12,000 attendees were mostly women, but I was encouraged to see quite a few men as well. As it turned out, the messages at the conference resonated with everyone, regardless of gender. I think they are particularly germane for our employee mobility industry and its female majority.
Too often, a company identifies an ideal candidate for a role that will require employee relocation and then communicates only with the candidate about the potential relocation. Ironically, the accompanying spouse/partner and family often endure the brunt of the move. Read More
In developing specifications for a new, outsourced provider, it is best to begin with an evaluation of your current employee mobility process and policies, and a frank assessment of how well they meet the needs of your internal customers (recruiters, managers and relocating employees). You will probably identify aspects that are working well, and that you want the outsourced provider to continue, and others that could be better. Documenting and clearly articulating your needs, expectations and goals will make it easier to evaluate relocation companies and to determine the parameters of the outsourced program. Read More
Worldwide ERC just issued the following statement regarding the Supreme Court’s decision to allow a partial travel ban to take effect.
Arlington, VA— On June 26, the U.S. Supreme Court issued an unsigned order to allow the implementation of parts of an executive order signed by President Trump to temporarily suspend foreign nationals from six countries from entering the U.S. Based on the facts of the case, the Court formed a distinction between nationals who have “a bona fide relationship with a person or entity in the United States” and all other foreign nationals. The Court upheld the suspension of the ban for foreign nationals who have such a relationship, including individuals employed by a company in the U.S. Read More