Q&A with David S. Oltman, SCRP, Chief Compliance Officer at Ineo
David Oltman, Ineo’s Chief Compliance Officer, discusses how the shift towards remote work raises new compliance challenges, the ramifications of new tax laws, and a license plate any financier will love.
There’s no shortage of tax considerations when it comes to mobility programs. You’d be hard-pressed to find an individual who’s more familiar with the sheer breadth of global mobility tax policy – until you meet David Oltman. As an industry vet, David brings his knowledge to the Ineo Tax Services team, and he enjoys sharing his insight with our clients and their transferees.
David Oltman, SCRP, is a co-founder of ReloTax – now Ineo Tax Services, part of the Ineo LLC family – and The Hessel Group, located in Wilton, CT. David received his BBA in Human Resources and his MBA in Finance and Taxation and has more than 30 years of experience in the relocation and payroll industry. He was the former Director of Relocation at Ciba-Geigy / Novartis Corporation, a division president of a publicly held company, and the system architect for the former DRTS systems.
Today, David leads Ineo’s Tax Services division, providing a broad range of tax services and educational programs that keep companies and their mobile employees compliant with tax regulations.
Well-known for his mobility tax expertise, David is a highly sought-after national speaker in the payroll and human resources industries. He has spoken at ADP’s Meeting of the Minds and Ceridian’s INSIGHTS national conferences, where he was delighted to be rated as the “top” speaker. David is an ERC Meritorious Service Award winner and was one of the first to earn the WERC Certified Relocation Professional (CRP) designation.
David has been married for 42 years and has three children.
Fun fact: David’s license plate tag on his car for the past 35+ years has been ‘GROSS-UP’.
How long have you worked in the mobility industry, and when did you join Ineo?
I started in the mobility industry in 1985, when I was appointed Director of Relocation at Ciba-Geigy/Novartis Corporation in Ardsley, NY. Then in 1987, I co-founded The Hessel Group. I then co-founded ReloTax in 1998, which is now Ineo Tax Services.
How many times have you moved for work?
I’ve moved for work two times throughout my career.
What common misconception do clients have about the mobility industry?
From a tax point of view, the average mobility professional thinks a US domestic move is somewhat less complicated than an international move, but the opposite is true. Most global tax professionals would say a US domestic move between two states with taxes is more complicated than moving from one European Country to another.
What are the most significant challenges Ineo customers will be facing in 2022, and how will the company help address them?
Based on the new tax laws, the income thresholds at which many credits get phased out have been significantly reduced. Currently, many phase outs kick in anywhere between $75,000 to $200,000. The new tax laws mean that, for years and years, you’d need to make over $400,000 to be affected by a lot of these phase outs.
When a person relocates, and the company pays for their move, most of the reimbursed expenses end up on their W2 as income. Because that income is added to the W2, it pushes them into a higher tax bracket, and they may lose the ability to take advantage of a lot of those new tax credits.
With these new laws, companies need to decide whether or not they’re going to reimburse their employees for that loss or not. That’s a huge issue that Ineo’s tax services address daily, from our gross-up audit and tax reconciliation services to pre-move tax consultations.
How do you recommend clients navigate the uncertainties of a post-pandemic workforce?
It’s maybe self-serving, but I’d say to contact Ineo. Contact a client representative to get some of the products and services we offer to address all these new issues arising from the pandemic.
With companies having employees working remotely, there’s a whole new slew of tax compliance issues. When an employee works from home, they may have very different tax compliance requirements than when they used to work in-office. The solution is to call Ineo, get some consulting, and decide what products and services we offer can address those issues.
What do you think is the key to developing long-term customer relationships?
What do you consider the most important value you provide in how Ineo serves its customers?
The most important role I have is to bring to the client’s attention all the new tax ramifications in a timely manner that affect their employees when they move.
What does a typical day look like for you?
I spend a big part of my day answering clients’ tax questions. I address the tax concerns and questions of the client, who is the company, and the client’s relocated employee. I can’t think of a day that I didn’t answer an email or hop on a call to talk to a transferee, the company’s payroll or tax department, or somebody in HR. That’s a typical day for me.
What are you passionate about outside of work?
Golf and going out to dinner with friends.
A personalized approach to mobility tax
No mobility program is the same. David and the Ineo tax services team understand the importance of hands-on client relationships in meeting each mobility program’s unique tax service needs. Learn how Ineo’s comprehensive tax services can support your global mobility program today.
Learn more about the work Ineo Tax Services does in our 2022 Tax Book