Significant Client Savings
The U.S. Tax Reform bill (the “Tax Cuts and Jobs Act”) that was passed in late 2017 that became law on January 1, 2018 impacted the relocation industry on many levels, but none so great as the changes to tax treatment on Household Goods and Final Moves.
In an effort to help our clients contain 2017 household goods costs that would become taxable expenses if paid in 2018. Our Operations team members worked with clients and household goods service partners to either accrue or pay invoices before the end of 2017.
NEI saved our clients an estimated $5.5 million dollars by completing these actions before the Act became law.