EY Change

In Tax

Our Employee Financial Services professionals can provide financial coaching to help minimize the disruption of uncertainty.

Related topics Tax Private client services

What EY can do for you

Whether your company is facing a major organizational shift, such as a merger, or needs to explain benefit changes to employees, we can help your employees navigate the decision-making process and provide them with resources and guidance to take informed action to help improve their personal well-being.

What we can do for employees:

  • Offer up-to-date information about the Tax Cuts and Jobs Act of 2017 and advise about its potential impacts.
  • Review benefit plan changes and choices, and help put them into the context of an individual’s situation.
  • Help navigate annual enrollment decisions, including selection of a health plan in combination with flexible spending accounts or health savings accounts.
  • Provide guidance about income tax and financial implications associated with work-related domestic travel or relocation.
  • Educate about severance programs and time lines, along with the impact on an individual’s current financial situation and benefits.
  • Review income tax impacts and actions needed because of payroll errors or law changes.

Our services for employers:

  • Benefit redesign. Employees have a critical need to understand how changes in their total rewards packages affect their personal financial goals. We educate employees about employer-redesigned benefit plans, then assist them in choosing one that suits their personal situations.
  • Equity compensation. Employee equity compensation plans can change during a merger, and employees may need to decide whether to take a stock option, restricted stock or a combination of the two. Our planners help employees determine their approach based on their individual goals, while measuring the risk versus reward of the different types of equity compensation.
  • Relocation. Employees relocating for their job face many immediate tax and financial planning questions. Our planners help employees understand specific relocation benefits, federal and state income tax impacts and how their income and expenses may change.
  • Workforce reduction. Our planners help employees impacted by workforce reduction navigate through this transition. Guidance includes how their severance plans work, how benefit plans will be affected and what steps are required to receive company-provided severance benefits. In addition, we help develop a financial plan for employees to address the transition period from separation to a new job.
  • Payroll issues. Payroll reporting errors are challenging for you and your employees. Our planners help employees understand how their tax situation has been affected by errors, such as inaccuracies in W-2 forms or incorrect reporting of benefit taxability; what their new filing requirements are; and the appropriate level of withholdings in consideration of their goals.

How we make a difference

When our advisors help employees navigate the impact of change, your organization can experience a higher degree of employee acceptance and an engaged workforce.

Contact us

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