Hollander United has solutions for both corporations and relocating employees to manage lump sum relocation allowances.
Corporate Lump Sum Program Management
Hollander United can manage your lump sum relocation program.
We can provide move estimates in competitive bid situations, counsel employees on best practice to stretch their lump sum allowances, and administer lump sum billing.
Managed Lump Sum
Let us assist by managing your lump sum program in a way that maximizes the benefit received by your employees. The managed lump sum ensures that otherwise excludable Qualified Moving Expenses are reimbursed to employees or third party vendors through the submission of invoices and payment requests. Such a method allows the sum of these payments to be excluded from the employee’s income, thereby minimizing the amount of tax withholding or the amount of tax assistance that otherwise would be incurred by the employer.
In addition, the employee gains valuable insight and counsel from their personal move manager on how to maximize their benefit dollars. This trained relocation professional can walk the employee through the confusing and stressful move process and offer valuable access to low or no cost concierge services and preferred contract pricing for moving services, settling services, new mortgage channels otherwise unavailable to the everyday person that must move.
Lump Sum
We are happy to assist your employees who receive a direct lump sum payment and get them where they’re going. We can provide counsel and guidance and on how to get the most for their allowance as well as what moving expenses are tax deductible and those that aren’t.
Lump Sum Support for Relocating Employees
You finally decided to take a big step in your career and pursue the out of state career opportunity. Your company is offering a great salary, benefits, and a lump sum allowance to relocate. It is now up to you to start making accommodations for your family, vehicle, pets, and additional expenses.
Hollander can help you to create move plan to maximize the benefits of your relocation allowance or lump sum. Our trained move consultants are ready to lend a hand in your decision-making process.
During this exciting and eager time in your life, make sure you understand how to effectively manage your lump sum and enjoy a stress-free move.
What is a lump sum relocation package?
A pre-specified amount of money to cover relocation expenses incurred during your move. Lump sum packages help with moving, traveling, and temporary living expenses that may incur during your move. Lump sum payments are common for individuals relocating for corporate jobs. There are two common types of relocation allowances:
Lump Sum
Moving expenses are tax deductible. For tax purposes, keep all your receipts during the relocation process as it will help you during tax time. Your employer may not tell you but your lump sum is considered taxable as earnings. For a better understanding, speak with your accountant about taxes.
Managed Lump Sum
Moving Expenses are reimbursed to employees or third party vendors through the submission of invoices and payment requests. Such a method allows the sum of these payments to be excluded from the employee’s income, thereby minimizing the amount of tax withholding or the amount of tax assistance that otherwise would be incurred by the employer.
In addition, the employee gains valuable insight and counsel from their personal move manger on how to maximize their benefit dollars. This trained relocation professional can walk the employee through the confusing and stressful move process and offer valuable access to low or no cost concierge services and preferred contract pricing for moving services, settling services, new mortgage channels otherwise unavailable to the everyday person that must move.
Get started
When it is time to determine how to best utilize your lump sum relocation allowance, give us a call and we will be happy to help you seamlessly move and settle-in to your destination.
Lump Sum Solutions
Whether you are an employee receiving a lump sum relocation benefit or a company providing a managed lump sum, we can assist in providing the best possible relocation experience.
