Moving expenses are no longer deductible – Moving Program “Your Fired”

As a result of the Tax Cuts and Jobs Act, moving expenses are no longer deductible and reimbursements from employers are considered taxable. Unless you’re serving our country in the military, this applies all relocations. At the same time, a historic driver shortage is significantly impacting capacity within the household goods industry. As with any industry, shortages result in fewer choices and higher prices. The moving industry just got more complicated and expensive.

A leading strategy by employers has been to FIRE their moving program and replace them with a lump sum payment. In other words, “the employee is on their own” to find a mover, avoid scams and negotiate terms. Consider that this is one consumer/family, negotiating a one way move away from the mover they’ve selected. There is no buying power or leverage. Movers offer corporations discounts, freebies and service commitments based on volume. These can be significant and help the employee and employer stretch their investment and safeguard against mover scams.

At Mobility Empowered, we’ve created a network of “certified” movers with negotiated pricing and service levels. Whether your employee is receiving a lump sum or moving under a managed cap relocation, we can save money and improve the employee experience. We can also help with corporate apartments, shipping automobiles and buying and selling their home.

Protect your investment in talent and HIRE Mobility Empowered.

Please contact us if you have questions about this article or if we can help you with a program review.

Chris Kline, Chief Marketing Officer and Co-founder of Mobility Empowered