calculating taxes for gross-up or assignment benefits can be a mystery
– and not the good, settle-in-with-a-box-of-popcorn-at-the-movie-theater kind of mystery. No, it’s more of the I’m-not-really-sure-what-I’m-doing-and-I’m-afraid-this-is-going-to-come-back-to-haunt-me type of mystery. With Plus’s corporate relocation tax burden calculation services, you won’t ever again worry about being visited by ghosts of relocations past. We’ll de-mystify your tax situation, simplify reporting and ensure everything is accurate the first time.
During implementation, we’ll gain an understanding of your corporate culture and philosophy, and then we’ll determine the correct methodology to apply to taxable expenses to align with your payroll schedule.
Since your employee’s tax gross-ups are based on your policy, we’ll collect OASDI wage information for each employee at the time of reporting. We’ll then create an interface that transmits gross-up data directly to your payroll system – and also post gross-up reports to your Document Library, accessible via your Elo portal. At the end of each tax year, your employees will receive reporting detailing their relocation for their personal income tax filing. And, if you prefer, we can apply a different methodology for a variety of pay grades within your company.
we’ll also work with your tax provider
to prepare a complete assignment cost projection reflecting all assignment benefit costs, used to calculate the anticipated tax from home and host locations, the employee contribution and the hypothetical tax.
Working with Plus, you can turn the tax calculation mystery into history.