Pre-move Tax Consulting
Competition for highly sought-after candidates has made creative talent management a critical element of corporate success. Companies are spending increasing amounts to retain high-value employees, and to pursue desirable candidates from other states and countries, causing the expense of global mobility benefits to rise.
One of the most useful and effective mobility benefits a company can offer an assignee or transferee is Pre-Move Tax Consulting, yet too often this benefit is overlooked both because payment of taxes is a downstream event, and because historically, companies have considered individual tax liability to be the exclusive concern of the employee. We strongly believe this is a short-sighted view. The reality is that there are complicated tax laws that impact relocating employees. Assessing them, understanding them, and making informed decisions pre-move is the surest way for employees to mitigate financial risk, eliminate surprises, and reduce the possibility of non-compliance when filing.
Ineo Tax Services professionals have extensive experience in relocation tax regulations. Our Pre-Move Consulting service offers a low cost benefit with a very real payback to the corporation:
- Increases employee satisfaction with the move experience
- Removes the burden on internal payroll and HR departments to address tax compliance questions, and reduces after-the fact payroll issues
- Manages employee expectations with regards to future tax obligations and the gross-up/tax assistance your policy provides
- Enables employee to focus on their work instead of being distracted and upset with potentially large financial surprises during tax season
- Relieves the corporation from dealing with employee tax compliance problems
- Minimizes the number of employees returning to talent management requesting additional funds to cover tax burden
Every individual has their own unique set of tax circumstances and tax planning is a significant element of the mobility process. This critical benefit enables employees to make important financial decisions with confidence and peace of mind while the company’s talent management objectives are met.