At the beginning of the Covid pandemic, just five percent of American white collar workers worked remotely full time. By […]
The U.S. economy has lost 15 million jobs since February 2020 and the unemployment rate, while improving, stood at 11.1% […]
The following post was originally published on November 29, 2018 by Worldwide ERC. Dear colleagues: The movement of government offers […]
The passage of the Tax Cuts and Jobs Act in late 2017 and its almost immediate effective date of 1 […]
The passage of the Tax Cuts and Jobs Act of 2017 has had far-reaching effects within the domestic sector of […]
A traditional fixed lump sum policy approach provides the relocating employee with a flat amount of money that he or […]
Worldwide ERC sent the following request to its members on November 15, 2017 asking for support in preserving the moving expense […]
Because the tax aspect of any relocation is so important, clear and continual communication with the transferring employee is essential. […]
To facilitate a relocation, many employers offer home selling assistance to homeowner transferees. Home sale assistance can come in various […]
Tax gross-up is a topic that relocation professionals routinely speak about among themselves but sometimes do not discuss adequately with […]
Arguably, the most complicated discussions surrounding domestic relocations involve the tax piece. For any domestic relocation expenses to be qualified […]
While most of us struggle with taxes in our native country, imagine what it must be like trying to determine […]
One of the things we’ve seen time and time again in our business is that the best relocation policies reflect current realities of the real estate market, with aggressive home marketing assistance programs and incentives to employees to price their homes realistically.
Tax assistance benefits cost an average 55-60 cents for every dollar of taxable relocation expense. In other words, a $10,000 lump sum payment could result in $5,500 to $6,000 of tax assistance costs.
Tax assistance is an expensive and sometimes hidden cost of corporate relocation programs. In fact, it’s the third most expensive benefit in a relocation program, on average, after home sale and household goods.