How Much Do You Know About Relocation?
Exceptions, or expenses that were not originally intended, can impact your company’s annual relocation spend. What's the average amount spent on exceptions in a typical relocation program?
That’s right!Sorry, you’re incorrect! The average amount spent on exceptions is typically 12.5%.*
If your company is spending more than 5% of its total relocation spend on exceptions, it’s time to take a look at your program.
*Results based on a recent NuCompass study conducted to investigate the effect of exception spend on total program costs.
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Tax Reform Changes for Relocation
On November 16, 2017, the U.S. House of Representatives passed their tax reform proposal by a vote of 227 to 205. Later that day, the Senate passed their tax reform proposal. Both bills repeal the moving expense deduction, as well as the exclusion for moving expenses paid or reimbursed by an employer. If these changes remain in the reconciled legislation, they would become effective January 1, 2018.
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