“Tax Cuts and Jobs Act” Implications for Relocation

November 6, 2017Share:

The Servicengine Tax and Compliance Team has been monitoring the proposed changes to the tax code in the “Tax Cuts and Jobs Act“ released by the House Ways and Means committee on November 2nd.  As presently constructed, the Act will cause increased taxable income that may have a financial impact on employee transfers.  These changes include:

  1. Final Move expenditures to be taxable
  2. Household Goods expenditure to be Taxable.
  3. Interest on mortgage values over $500,000 no longer be deductible.

The Act is still being deliberated by Congress and there is high likelihood that provisions will change.    For the time being, Servicengine is assuming these changes will be implemented and we are reviewing how they will be accommodated in our products.

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    Servicengine is a revolutionary process management system that fully met or exceeded the complex DNRP service management requirements, achieving significant time, labor and expense savings, program documentation, multiple online authorization points and robust service documentation and reporting. I don’t think there is anything remotely similar being utilized by any other federal agency.

    Defense National Relocation Program

    2018-06-05T18:39:50+00:00

    Defense National Relocation Program

    Servicengine is a revolutionary process management system that fully met or exceeded the complex DNRP service management requirements, achieving significant time, labor and expense savings, program documentation, multiple online authorization points and robust service documentation and reporting. I don’t think there is anything remotely similar being utilized by any other federal agency.

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    Servicengine Client

    2018-06-05T18:44:44+00:00

    Servicengine Client

    Servicengine enabled us to transform an archaic, manual and redundant process into a beautiful end-to-end solution with transparency, documentation and electronic process management.

    The initiative was very successful

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    A large global relocation management company

    2016-06-01T18:04:32+00:00

    A large global relocation management company

    The initiative was very successful and we recognized about a 15% efficiency gain across the organization.

    I learned so much

    I learned so much and had fun working with you and your team as we moved through the development and implementation process.

    Relocation Executive

    2018-06-05T18:43:06+00:00

    Relocation Executive

    I learned so much and had fun working with you and your team as we moved through the development and implementation process.

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    Servicengine creates efficiency! Processes that used to take weeks to complete, now only take a few days.

    Leading global mobility provider

    2016-06-01T18:03:41+00:00

    Leading global mobility provider

    Servicengine creates efficiency! Processes that used to take weeks to complete, now only take a few days.
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