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Transferee Tax Filing Tips

Tax season has arrived. It is both a headache and a relief for some people as they stumble around the rules and regulations of tax laws, exceptions, deductions, and write offs, hoping for a big return. Obviously, it’s important for everybody to take care when filing their taxes but it’s especially important for recently relocated transferees to Transferee Tax Filing Tipsunderstand exactly what their work related move entails in terms of filing. The best advice I can offer is to have your transferee speak to a professional tax consultant to ensure everything is filed correctly, but there are several tips, tricks and reminders that I can offer right now.

United Van Lines 2015 Migration Study

 

For nearly four decades (39 years now), United Van Lines has conducted an annual survey to discover migration patterns from state to state across the nation. Each year, new patterns form, old patterns repeat, and we learn more United Van Lines Migration Studyabout why and where people are moving throughout the country. In the 2014 survey, Oregon held the title for “Top Moving Destination” for the second year in a row while the northeast experienced quite an exodus for reasons such as retirement and relocation (though in my opinion, it’s the cold that pushed people away). Now that 2015 has come to a complete close, it’s time to see what, if anything, has changed.

Is the Housing Market Bubble Back?

I realize this is a loaded question to ask, considering people from certain parts of the country are still trying to bounce back from the early 2000’s. Things just started looking up, but could there really be another housing bubble coming? According to an article on Zillow, it doesn’t appear that the US as a whole is in any major trouble, at least not in the next five years or so. However, experts say that some markets, including New York and San Francisco, are already in a bubble. Additionally, some experts predict that Boston, LA, and/or Miami may enter a bubble within the next three years. So, how are these predictions made and what exactly does it all mean?

Happy Thanksgiving!

 

Happy Thanksgiving from us here at XONEX to you and yours! Thanksgiving is a time to be grateful for what we Happy Thanksgivinghave and to help those that may not have quite as much. It is also a time to feast and over indulge on traditional meals and desserts.

 
But being in the relocation industry, we know that not everybody will be home for the holidays this year. Some of your expats may be trying to celebrate and honor their American traditions abroad while others will be embracing their new culture and making compromises. Either way, we hope that your transferees, whether at home or abroad, will enjoy their holiday season in their new surroundings as well!

Last Minute Moves are Relocation Budget Killers

In our most recent relocation whitepaper, discussed the nature of last minute relocations and the impact it has had on relocation budgets, as well as the transferee’s overall relocation experience. For one reason or another, there seems to be a growing trend towards last minute hires. As such, there were many cases where transferees were initiated in the same week as their start date, leaving very little time to adequately counsel the transferee and effectively set up relocation benefits.

Don’t Trust Temporary Living Lease Terms

Yep, we said it. At times, temporary living is a necessary evil, as opposed to a relocation benefit. Semantics, to be sure, but nothing turns us off more than landlords or property management companies who pack their lease agreements with fine print clauses designed to “trap” distracted transferees into a longer lease term and/or additional fees. It’s a shame and it’s bad business but, unfortunately, it happens.

Free Whitepaper: 10 Temporary Living Rules to Live By

We’ve been talking a lot about temporary living lately – and with good reason. As we know, temporary living is one of the bigger line items in the relocation budget.  Employers, capped-budget transferees, and even those who really do care how much their move costs their company (yes, some really do!) can find themselves sticker shocked from temporary living totals.

Fannie Mae’s New HomeReady Mortgage Program

The one thing everybody knows about the housing market is that it is constantly changing and evolving. Buyer’s markets turn into seller’s markets, and vice versa, over time. Home values increase and decrease based on several different factors. A mortgage rate update from a week ago is totally irrelevant today. Recognizing this, Fannie Mae is revamping a mortgage program in an effort to better serve today’s realities.

Three Moving Lessons from the Busy Summer Season

When a company works with a quality relocation management company, HR can rest assured that their transferees are well taken care of. However, that doesn’t mean that your company’s gatekeepers are totally off the hook. When it comes to relocation benefits, there is no one size fits all package, which means exception requests are bound to happen. Aside from selling and buying a home, the physical household goods move is the most stressful aspect of a relocation for your transferee. We are almost out of the woods with 2015’s busy moving season, so I figured I’d share some of this year’s biggest takeaways.

Happy Labor Day!

In the relocation and moving industries, Labor Day is the first sign of winding down after the busy summer season, but it is of course much, much more than that.

Labor Day is a day meant to recognize and celebrate the contributions that employees have made to the organizations they work for and the communities they live in.

Thank you to all of the XONEX Relocation employees for all of your hard work and dedication to helping our clients and transferees all year round. And thank you to our amazing clients and transferees for making this summer yet another amazing season. We hope everybody has a wonderful, relaxing, and well-earned holiday.

Happy Labor Day!

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