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US Tax Reform Update

US Tax Reform Update

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US Tax Reform Update

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  1. US Tax Reform Update Our regulatory landscape and its impact on mobility programs

  2. US Tax Reform:Our regulatory landscape Ashley Fewins-Kalb Over six years of experience in US expatriate and inpatriate taxation and planning. Passionate about helping clients address and manage the tax implications of cross-border employee activity at the corporate and individual levels.

  3. US Tax Reform:Where are we? US tax policy outlook • Midterm election results • Divided government Ongoing considerations • State conformity • Political climate • Global response and trade • Global tax policy and considerations for multinational corporations

  4. US Tax Reform:Converging Issues Commercial and regulatory issues around the global mobility space: U.S. Tax Reform – A Disruptive Force • Key provisions impacting overall cost of international assignments • Tracking and capturing the value of a global workforce • Cost allocation and charging between subsidiaries

  5. US Tax Reform:What’s the bigger picture? Key provisions impacting the overall cost of international assignments • Taxability of moving expenses • Limitation on itemized deductions (state and local tax) • Change in tax rates and brackets • Suspension of personal exemption deduction Articulating the impact of tax reform • Data analysis and modeling to assess costs

  6. US Tax Reform:A catalyst for change Responding to tax reform • Adjust budgets and cost projections • Evaluate operations • Communicate with business leaders Evaluating mobility policies – key considerations • Benchmarking against best practices • Competitiveness within industry • Impact of tax reform • Administrative costs and value

  7. US Tax Reform:Policy and workforce considerations

  8. US Tax Reform:A comprehensive strategy

  9. US Tax Reform:Workforce planning Workforce (who) Location (where) Operations (how)

  10. Global Mobility in a Changing Landscape • More people are moving in new and different ways. New mobility patterns are emerging with travel and virtual work outpacing traditional assignment structures. • Mobility structures need to view enterprise compliance risk through multiple lenses and close emphasis needs to be put on substance over form.

  11. Global Mobility in a Changing Landscape: Competing Forces

  12. Key takeaways:Next steps in the journey • Understand and quantify how provisions of the Tax Cuts and Jobs Act impact the cost of an international assignment. • Tax reform is a further disruptive force in an already complex and regulatory-rich environment for multinational businesses. Empower program leaders with information and tools to adapt to change proactively address areas of risk: • Review talent and business strategies • Revise budgets and accruals • Review and optimize policies • Evaluate processes

  13. RSM US LLP 801 Nicollet Mall, Suite 1100Minneapolis, MN 55402 +1 612 573 8750 rsmus.com