“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.

  • The initiative was very successful

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

    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.

    Servicengine creates efficiency!

    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.

    Improved automation of file authorization

    Improved automation of file authorization, expense submittal and vendor invoice submittal; Improved process tracking; Reduced turnaround time for expense checks.

    A major multinational corporation

    2016-06-01T18:03:04+00:00

    A major multinational corporation

    Improved automation of file authorization, expense submittal and vendor invoice submittal; Improved process tracking; Reduced turnaround time for expense checks.
  • Stay Connected