TAX season is here…well, the deadline is near. Is your company operating off of a lump sum program for your employees relocation’s? Do those employees understand the tax implications when they take that lump sum?
Employees need to understand that taking the lump sum for moving is fully taxable as earnings. Some employers “gross up” that lump sum to take care of those taxes…or most of them, but not all employers do this, and employees need to understand what their responsibility is when it comes to taxes.
Having a direct bill with your relocation provider is usually the best situation for many reasons.
1. Household goods provider is loyal to you as their client
2. Replacement valuation is provided at no charge normally.
3. You are not just another number.
4. Employees are not spending all their time getting estimates and evaluating moving companies.
5. Your provider will be there when all others book up while in the summer season.
There are many reasons to work with a provider directly for all your relocation needs, and making sure you understand the tax laws is most important!
This is usually the time of year when people start to havea deep consideration of placing their home/condo on the market, either it is coming back on the market or the first time on.
So how do you get ready to place your home on the market? Well, let me give you an example from a close to home scenario that is occurring in my own family. My parents are selling their beautiful home in Litchfield, NH this year and being in the relocation industry, I have taken a deep interest…plus they are my parents.
Before my parents were even sure they were going to place the house on the market, my mother had been packing already and organizing their things as to who gets what, what is going to be donated, what is moving and what is negotiable with the sale of the house.
They feel as though they are ready now, and contacted three Real Estate agents in NH that are familiar with the area they live in. After interviewing the three agents, I think they found one who is agressive and thinks he can sell the home rather quickly. On the market it goes!
I will blog more on this as things progress, but the point I want to make here is that, months before they were even placing the house on the market…organization was taking place as well as interviewing of the agents to see who would get the listing. Sometimes a job situation will not allow for the time, such as my parents had, but interviewing several agents is important if you have never been involved in a real estate transaction, or do not have someone being referred to you.
Planning ahead is always best, but sometimes life gets in the way of our best laid plans…patience and having a positive outlook will ease this stressful event.
Blogging…what is it exactly? Why do we blog…well, why do some of us blog? When I found blogging…it had already been out for years. The last few years it seems to have died out a bit though…from what I have read (on blogs).
Blogging is a great way to show some creativity without lecturing or being a “know it all.” It is a way for real people (not sure if there are any other kind) to write about things they know about. You cannot use these blogs as an academic resource…such as like Wikipedia…but it is a way that people can read real life opinions and thoughts of others.
I started blogging because I wanted to get what I know out to the masses…well, whoever is interested anyways. I find it interesting to read other blogs and see things from all different perspectives. I am hoping that people will begin to read my blogs to see how I look at things and if it helps them in any way, then my blog will have succeeded.
Relocation and blogging is very important to me. The blogs I will write will encompass many different ideas as well as my opinion on certain subjects. I hope you will follow my blogs and most of all, I hope you can get something out of them.
Well, here it is. I have a new blog site, and you have found it. I found that this will be more conducive to what I am looking to accomplish here. These blogs will be written in a professional, casual tone.
I will be sure to blog on the importance of moving, real estate (anything I can dig up) and just about anything that may have something to do about moving. Now that can mean anything from decorating to the HR perspective on a move to the tax implications to the emotional toll a move takes on.
Thank you for reading…stay tuned!